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House Price Crash Forum


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  1. I've done it, put an offer on a property and it got accepted! Immediately the EA's conveyancing firm jumped in before I had the chance to contact a solicitor myself and I took the easiest option and went with them. I just found out that this company also acts for the seller of the property, they just use another office. In the case of a conflict of interests I would need to get another solicitor. Now I'm wondering how exactly a conflict of interest is defined. If I got the result of the survey and would need to reduce the offer, would that be already a conflict of interest? When I spoke with
  2. Thanks for all your answers. To answer Mildura's question, no the EA is not part of this Countrywide group. But still a chain, at least in my area... Regarding the conveyancing, I'm wondering if a conveyor connected with an EA would be able to have a neutral approach. How independent are they really? Regarding the mortgage, I certainly trust my bank much more whose adviser takes their time to talk with me about their mortgage options in detail. And the savings through a broker don't seem to be worth taking the risk. I tried not to get too attached to the property in case things wouldn't w
  3. I've got a question. I put an offer in for a house some days ago. It was not accepted right away, as the vendor was hoping to receive a better offer. Now, just a few days later, the EA called me and said the price was accepted, but there had been another offer for exactly the same price and the buyer would be in the same position as me. They must have realised that I'm not increasing my offer, so they didn't suggest this, but the agent was very pushy about marketing their own conveyancing company and their mortgage broker to me. He made it sound as if taking their services was a condition to g
  4. After I have tried and given up buying in recent years, I am now looking again to buy in the Brighton area. The situation is certainly better than it was at peak. Nice houses at sensible prices still go away quickly, but it looks like people don't jump in and buy the overpriced stuff anymore, so lots of property on the market gets reduced due to a lack of interest. Prices are still (too) high of course, but I'm just too fed up with my situation as a tenant and the low standard of rental flats to wait much longer and buying makes sense for me personally. And here a nice little EA anecdote: I
  5. I was born in Germany and can confirm everything you said, the market couldn't be more different. Renting is the norm and buying a house is not a hobby, it is done once, maybe twice in a lifetime. It is kind of funny that the Brits in Germany rushed to buy houses at "bargain prices" with the intention to make a profit... The lack of EAs in Germany and non-existence of property porn programmes on tv should have made them suspicious though.
  6. I think the fact that the EA are paid by the seller, not the buyer, is part of the problem we have with the house prices in the UK. I can give you an example of Germany, where I have been trying for the last year to sell a 2.5 bedroom house. Over there, the EA is paid by the buyer so the buyers have a very different attitude. In my experience they deduct the EA fee from what they can/want to pay so that the seller ends up indirectly paying for the EA anyway. But the EA doesn't work in the way of talking prices up in favour of the seller. Now, why has my house been on the market for so lon
  7. I should be used to it by now but I still keep getting shocked when I see how the media attempts to manipulate us. Propaganda in the name of property. In the Evening Standard an article of a house price rise of a 30something percent in posh London areas in the next years - how on earth...?!?
  8. After speaking with friends yesterday, it's good to have this opportunity for a little rant on here. They are a couple, own house (his house, she moved in later), mortgage-free and they are not against a hpc but simple refuse to believe that there will ever be one. They recently thought they could get a bigger house and had their property evaluated - he was a bit disappointed that the EA valued it lower than he thought it was worth. The uninformed approach they take towards buying a house for a third of a million shocked me when he said he would let the EA show him some properties because he c
  9. I can tell of the unrealistic expectations of vendors from my own experience. I have been looking to buy a place in the South East for the past months now and made offers on three properties so far - all of which have been declined. In July, my offer for a flat was 10% off the asking price - got declined, flat is still on the market. The vendors are investors who have done the flat up and apparently want to cash in with the sale, as the asking price is ridiculous high and 10% off would have been still a high price. An offer for another flat, only about 8% of the asking price was declined and
  10. It's a bit of a men's club here, isn't it? Ah, good old stereotypes. If you have a girlfriend/wife, she must be so lucky...
  11. Normal Brighton madness - people spend 300K and then have a narrow shoebox with hardly enough space to put all their stuff in. And have to be careful not to bump into passers-by when they step out of their door as their 300K house is built right next to the pavement. I can't be bothered with Brighton anymore, have been renting here for years but buying something nice here is impossible.
  12. Thanks Shell, good to hear that. With friends like mine, I needed some moral support... The EA told me (and I think that's one thing I can believe him) that he had many people from Brighton recently looking to buy in Worthing. More and more people will be driven out of Brighton and in the end Worthing will become the new Brighton! But without the crazy prices and the irritating hills. I'd love that. ;-)
  13. Hi, I was wondering if anyone here is actively looking to buy a property in Brighton at the moment, not just checking out the market? I have been looking for a flat in Brighton for the past months and the results were very disheartening. Trying to get a decent flat in a nice area for 160K? Forget it. Gloomy 1 bed basement flats, not in a good condition, which are offered for 180K even. The more I was looking, the more I realised that many areas in Brighton are quite grim actually. And staying here is just not possible with these insane prices. It seems to me that you can only be a first time
  14. Update: I put an offer in for approx. 7% below asking price and it got rejected. The argument of the seller was apparently that "she needs more money". Yes, that's a good reason, who doesn't? Oh well, somehow it's good that I can't afford to go up with my offer anyway, so that saves me of doing something unreasonable and over-paying for a flat that might be less worth in some months time. Maybe I'm lucky and the seller actually comes back to me when she doesn't get better offers but I think there are still too many people who will happily agree to pay the full asking price when they see th
  15. Thanks for all your recent posts and sorry that I just saw them today, I didn't check this forum a lot in the last weeks. Well, I have seen many low-quality flats at exorbitant prices recently and was close to giving up the idea of buying. Thinking about my different options, I also thought about buying a house in a less expensive town to live there with my partner, but as I'm not able to afford this on my own, we both would have needed to put money in. Huuuge committment as we haven't been together for even a year and although things are good now, I can't look into the future. My thoughts
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