miriama

My email to agent: Hi ..., Thanks for showing us around on Saturday. I certainly didn`t mean to spring the facts on you so quickly! Given that I have learned that the house is prefabricated I will not be putting in an offer. I believe that the house may be difficult to mortgage anyway as it is of non - standard construction. Couple of points I would like to make. 1: The house is overpriced. I have actually checked the records and vendor bought the property in October 2001 for 70k. If you look at Nationwide charts the price they would come to is: "A property located in Greater London which was valued at £70000 in Q3 of 2001, would be worth approximately £109165 in Q4 of 2008. This is equivalent to a change of 55.95%." Of course this is just a generalization but to compare the prices they are asking with Richmond (much nicer area as you agreed) http://www.gpees.co.uk/property-details-rpsGPT-RIC070374 http://www.chancellors.co.uk/Search/Proper...mp;instrno=2535 http://www.housenetwork.co.uk/my_site.asp?...amp;house=1#top 2: I would suggest you might want to put the construction type into brochure, because there are only few mortgage companies willing to finance this kind of construction. Let me know what you think, Miriama

Because EA assumed that I was making an informal offer during our talk, hence the phrase "he will need to have a word with vendor on Monday. Too cruel to let him down

Thank you Alfie! I am by no means a timewaster. I have been really interested in seeing this house and possibly buying it. IF I knew beforehand the house is prefab I wuldn`t have bothered to view it. IF it had measurements not just a picture of floorplan, I would have know it`s way too small. IF the vendor wasn`t stuck in cuckooland... etc. For all of you who think I am about to spend the largest amount of money in my life and wouldn`t want to see several houses first (after weeding out unsuitable ones through internet) are very largely mistaken. Maybe the problem in UK is that people spend more time researching cameras / TV`s than their own house which is how they end up paying half a milion quid for something not even 70 sq m.

Wapping E1W

she...

Well, just found out they have paid £70k ! in October 2001.... Nationwide says: Results:- A property located in Greater London which was valued at £70000 in Q3 of 2001, would be worth approximately £109165 in Q4 of 2008. This is equivalent to a change of 55.95%. How they can justify asking price of over 440k is beyond me.

you can only do that when bought before 2001 (sold prices). You may look before but it will only show how much mortgage they took on property (if any)

agent was nice, it`s the seller who is deluded

A bit of realism check never hurt anyone. If they do accept (which I know they won`t - seller deluded), I can always say I acn`t get a mortgage on prefab...

I was looking at one property in London. It`s a 3bed terrace house on the market for very ambitious £444k. Sold prices on the street: 2007: 325k 2004: 280k 2001: 150k I had already made up my mind before the viewing that all I would pay is £250k if I liked it enough... Came to viewing, agent quite nice (surprisingly), thought I would do him favour. Didn`t like the house, it was little pokey and way too small. Conversation goes like this: He explains all the features, shows us around, then asks me what do I think. I say "is it true prices are back to 2004 levels? He says "yes" I say "Did you know that house next door sold for 280k in that year? He says "no" I say: "no problem, I checked stats. Market is still falling by almost 2% a month, isn`t it? He says "yes", then explains that it`s been on the market last year with another agent for 500k and vendor had an offer at £440k, which he didn`t accept. Bet he is knocking his head against the wall" (agent words not mine) Then he asks to go back to his office as he is not comfortable talking about it in the owner`s house. WE get back and he says he was suggesting to owner the price is a little ambitious and virtually begged me to give him Monday to speak to owner before I put an offer in. He also revealed that the house is prefabricated!!! Then few more questions and he was lost for words, literally. Anyway I have no intention buying this property but will be putting in an offer anyway. The house was bought before 2001, so the price was likely to be less than £150k. How much should the offer be? I am thinking £200k.

Two bedder - bedroom + bedroom for baby

Hi all, thanks for all the answers. Wow, I didn`t expect this many complaints over my choice of living.What I wanted was an advice on money side of things. Firstly I wanted to offer £250k BEFORE I have checked the sold prices. I am not mug to pay more than the price in 2004. Secondly, I have no idea what you have against Wapping. I find it quite quiet and it has docks / park / tennis court while being ten minutes from the office. Thirdly, four bedrooms (or what qualifies as this) is not going to go far. I never said I want one child, I might want three! Lastly, I haven`t even thought about LL not allowing children in property. Our decision was made upon the fact that we are sick and tired of moving every year. You can do that when you are couple, but wih the little one, no thanks. PS: I don`t need a car, I used to be a nanny (in London),didn`t drive (and still don`t) and still managed ok.

To Martin: Thank you Martin, the only sensible answer here so far...

Hi all, I know that prices are falling and economy is in bad shape, but myself and my partner are planning to have a baby in the near future and would like your honest advice. Just to give you background. We have been renting for about 8 years, are both debt free, have 20% deposit (although haven`t applied for a mortgage yet) and our combined income is c 125k. The rent for 2 bed places around London is roughly £1250pm. I have just seen this place: http://www.rightmove.co.uk/property-for-sa...y-20367799.html which I really love, it seems to be just where I would love to live (and area is fantastic). I thought about offering £250k, which would mean mortgage of £200k (costing less than renting) Then I checked sold prices and the only time property was sold was in June 2004 for 197k. Since then in been apparently refurbished and so on. How much should I offer? Thanks, Miriama

Hi all, I know that prices are falling and economy is in bad shape, but myself and my partner are planning to have a baby in the near future (would like to buy a flat too). Just to give you background. We have been renting for about 8 years, are both debt free, have 20% deposit (although haven`t applied for a mortgage yet) and our combined income is c 125k. The rent for 2 bed places around London is roughly £1250pm. I have just seen this place: http://www.rightmove.co.uk/property-for-sa...y-20367799.html which I really love, it seems to be just where I would love to live (and area is fantastic). I thought about offering £250k, which would mean mortgage of £200k (costing less than renting) Then I checked sold prices and the only time property was sold was in June 2004 for 197k. Since then in been apparently refurbished and so on. How much should I offer? Thanks, Miriama

Well, search over! I am staying put for another six months. After giving my notice 2 weeks ago I had approached the owner and put in a cheeky offer of 20% rent reduction which was accepted! Waheeyy, more money to spend on my upper class travels.

That`s the thing. I have made it clear even before viewing that I am unable to move in until 26th Feb. It`s only because he has agreed that he is ok waiting I went to see the place

Property 4 - landlord directly. Nice flat, could do with repainting. Tenants move out on 14th Feb. Before I went to view I specifically asked if LL is OK to wait until 26/02 as that`s the date I would like to move in. He said yes. After viewing I asked the same thing and he said he has some people who are coming in the weekend / next week... Maybe we could do a deal if you can move in 14th. I am getting sick and tired of LL / LA wasting my time. I mean people have to give notices and I just don`t understand why LL is not willing to have a property empty for 12 days, specially as he said he will get maintanance man and a painter to fix the property a little. This might take couple of days surely? So far I have not phoned to make formal offer and I probably won`t. Feeling really frustrated.

Really???? What should I offer? Where is Barry`s post?

I am looking in SW - Richmond, Chiswick, Putney etc. Also Wapping / London Bridge. I am off to see a reallly gorgeous looking property on Thursday - private rental. I really hope this one will work

Update - property n3 - like something out of after war. Complete with peeling paper in "living room" and falling off tiles in the bathroom.. Didn`t make it to the bedroom. Agent seemed surprised especially when I questioned photos on the website. They were obviously not the same. But she has said that she has something nicer in the same building for £1400! I didn`t yell at her because she was pregnant...

I am in process of looking for a property. I would like to move out of my current one by end of Feb. I am looking for studio / 1 bed for £1000 maximum (to save for good deposit) Agent 1: found great place, available immediately, the LL would apparently not wait for 5 weeks. The fees for LA were £250 (non refundable in event of failed credit check). The actual fees for credit check were £25pp and tenancy agreement £125. If you add £25 and £125 = £150. The LLLA would still make £100 profit for nothing. I have rejected on basis of that and property is still on the market Agent 2: Found property, almost went to see it before finding the property with another agent already let. Meaning I would have made wasted journey. Fees: £35pp credit check, deposit £250 but £215 would be refunded if credit check failed Agent 3: Found property, I have canceled viewing on Fri, got a call from LA again today. I asked about fees. The LA says £100pp reference! + £65pp contract! + ? check in fees. To which I said they are stupidly expensive and no way I am paying £100 x 2 for something you can get for maybe £20. She said we can talk about fees later. The rental is £950pm, I can move in on day the current tenant moves out. I am planning to offer £850pm and £150 all fees inclusive. After all they already get paid by LL! I will let you know how I get on. Miriama

Hi all, I have a bit of strange situation. I have moved to my current property in Feb 08. I am on assured shorthold tenancy and I have never been late in my payments. I don`t know name of my landlord only letting agent is named on the contract. The agents changed in July 08 and (old agents) sent me letter advising me my deposit will be repaid (even thought the tenancy was not ending). I went to deposit protection website and filled in the details and old agents confirmed this too. I have been repaid the deposit. I have received the letter from my new agents today (they have been in charge since July 5th) asking to repay this money back to them as per contract. My questions are: 1: Since I am moving in Feb / March (I was planning to submit one month notice sometimes next week) do I have to pay the deposit back? 2: Since the move in inventory was never done with new agent, can I request one now before repaying them money? Thanks, Miriama