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r thritis

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Everything posted by r thritis

  1. Of course it is. The offer is subject to survey and if that survey reveals that unforseen expenditure will be required, it is entirely reasonable to change the offer. What is under discussion here is offering on a property which is then taken off the market, proceeding to the point of exchange and then reducing the offer just to make a few quid.
  2. Not sure what your point is here. If someone can't complete due to factors outside their control, the sale falls through. If a buyer changes their mind and pulls out after offering, they shouldn't have put the offer in the first place if they weren't sure, but nothing anyone can do about it. If an offer is made, both buyer and seller should stick to it.
  3. Well - we're agreed. Its legal, but an unscrupulous practice.
  4. Absolutely. Negotiate, make ridiculous offers, but once that deal is struck, behave like a decent adult.
  5. Its not the law. Its a loophole in the law, which can be exploited by weasel low-lifes. A verbal deal is made on trust and the trust is broken just before exchange. This isn't the way to behave in life or in business. You lose credibility by doing this sort of thing.
  6. That is flamin' brilliant. - struggling for the relevence tho ...
  7. I just hate this about human nature though. Someone did a bad thing to me therefore its ok for me to do a bad thing to someone else. Its not ok - it really isn't. It really doesn't fix anything.
  8. I've been a long-standing (if not prolific) bear on here and I've always considered we've held the moral high-ground, and been proved right by correctly predicting the financial doom and subsequent crash. The knowlege and wisdom gained on here helped me to avoid following the masses into financial ruin and buying in a housing bubble. When I finally made an offer on a house, it was a very low offer based on my expectations for a continued weakening in prices. However, when that offer was accepted, I felt that I had made a deal on a handshake, my word was my bond, and I went on to complete at the agreed price. I would not have dreamed of double-crossing the seller at the last minute before exchange, by lowering the offer. Support for gazundering is nothing to do with the bulls vs bear argument - but its everything to do with the sort of person you are. Just because house prices have been forced to ridiculous levels by idiots (buyers, speculators, regulators, lenders and chancellors), does not make acceptable to con people. Championing gazundering substantially weakens the argument.
  9. http://news.bbc.co.uk/2/hi/business/8416610.stm I don't quite understand this. Remembering that time, there was plenty of warning that Kaupthing was going down. In the week before it failed, I took my savings out as no doubt many others did. What is there to investigate?
  10. Chocolate Santa's presented to all staff here today. Recession's over!
  11. Congrats Ozz, hope it works out well for you. I did the same earlier in the year after many years as a contented tenant. Like you I think the market will probaby fall next year, but I decided to jump in when the market is comparatively low as a hedge against inflation / uncertainty or being wrong.
  12. As a cash buyer, you are in a very strong negotiating position, so a seller is highly likely to accept a low offer. Use this to your advantage when making your offer. The estate agent will try to draw you closer to the asking price and will be reading your every move in the negotiation, trying to get a feel for whether you will be prepared to go higher. Decide ahead of time what your max offer will be and when you will make it. Don't be rushed or react too quickly. When/if your offer is accepted, get a solicitor to handle the legal work. Don't use one recommended by the agent, better to get one on recommendation from someone you know. Same advice for the surveyor. There are usually 3 levels of survey, the first being a basic report and valuation, the last being a full structural survey. Base your choice on the age and condition of the property. E.g. if its a modern house on a recent development, you maybe don't need the full works - its up to you. The solicitor will then see it through to completion.
  13. Can I suggest an enhancement? On the forum/index.php page, which shows the list of threads, when you 'mouse over' the thread title, it pops up 'thread started at ' etc. Various other forums show the the first 60 or so characters of the post, when you 'mouse-over'. This is more useful than the date/time. You can often decide whether or not you want to read it on this basis.
  14. For me it wasn't the BTLers that I hated directly, it was just that BTL was a symptom of an economic system that was so obviously broken. It was obvious to anyone who was able to just step back and look at what was happening, that for the banks to take on the risk of handing out unlimited numbers of mortgages to individuals, was evidence of an unsustainable business model. The risk they were taking was apparent to many on here, but for some unfathomablereason was invisible to the bank policy makers, the government (and opposition, with some notable exceptions) and the regulators. Pre-crash, HPC became a mecca for those who saw what was looming on the horizon, together with a minority of BTL bulls who were riding the wave, intent on taunting those who they thought were misguided or had 'missed the boat', as they relentlessly grew their portfolios like there was no tomorrow. Given this backdrop, it is not surprising that the BTLers are not exactly flavour of the month round here.
  15. Did the same earlier in the year. I'm no economist, but surely qe has to be inflationary in the longer term? To hedge against this risk and coupled with the fact that we got the right house at the right price (paid 330 this year when original asking price at start of 2008 was 450), we went for it. Inflation is what is intended as a deliberate policy to screw the savers to rescue the over=borrowers.
  16. Its only a 'huge shadow' over your life if you make it one. It is usually in the interest of both landlord and tenant to extend the lease beyond the shorthold tenancy period. The majority of rentals will be available as long as it suits you to stay, unless the landlord needs to sell or goes under. Why would they turn away a good tenant and risk a void rental. And if it does happen, you just move within the catchment area. There is over supply of rental properties in most areas. Its not a 'huge shadow' for the kids - they love the excitement of moving to a new house. There is nothing wrong with renting.
  17. Then maybe you should employ a school leaver with a CSE in Maths to do it for you.
  18. Yeah - picked it up for a snip. Distressed sellers apparently It just p*sses me off that they're so damn careless (again). If it is just a genuine mistake, they really should deal with this incompetance (maybe they should send themselves on a primary school maths course). Presumably, recommendation and reputation is important for their business - and they sure as hell won't be getting any repeat business from me.
  19. I have just received a final statement from my solicitor for a house purchase and it contains a simple arithmetic error, which is 60k in favour of the solicitor. Now I would pass this off as just administrative sloppiness if it were not for the fact that exactly the same thing happened when I last completed on a house sale back in the 90's. Different solicitor that time, and just a 2K error in their favour. I am begining to wonder if this is some sort of institutionalised rip-off. With large sums of money flying around, if they do this regularly, maybe 1 in 10 times it would go unnoticed. Should I report them?
  20. Surely the surveyer is caught by the chicken and egg cycle. Their valuation reflects the market current at the time. They are not expected to provide analysis on the credit bubble or whether it may fall in the future. The 300k city centre flat was worth 300k at that time, as idiots were buying them at that price.
  21. I lost faith in my IFA when he was caught up in the boom along with all the other sheep. He didn't recognise the bubble and seemed unable to distinguish between his rose-coloured spectacled view of the future and the future that was inevitable. I've got better advice from this site, and the 'global' one, than from any IFA.
  22. Undoubtedly true, but the majority believed prices would only go up.
  23. These people are undoubtedly stupid, but there have always been stupid people and there has to be a mechanism in place to protect stupid people from harming themselves. It is policy makers and regulators who should have been performing this role. Unfortunately stupid people were appointed to these roles by a stupid chancellor. They might have been saved by the financial advisors who advised on their mortgages. However they were stupid too.
  24. The trouble is, that there's nothing really to talk about anymore. This forum was in its hayday when it was HPC against the world. A minority of realists against the deluded masses. Now the world has met the fate predicted long ago on here and HPC and recession are upon us. There's nothing left to argue about.
  25. Definitely hang on for redundancy. How many times in your life do you get given a wad of money for doing nothing?
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