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Everything posted by Mustard_Jones

  1. Hi HPC'ers, We've found a place we really like and would welcome some views on what to offer, the summary is:- 1. We are 100% cash buyer, no chain and can proceed immediately 2. The house we like has been on the market 6 months, sold twice and fell through both times 3. The owners moved up North for a new job and are renting, they need to sell in order to buy their new place 4. Price was £230k, then dropped to £215k 4 weeks ago 5 Two weeks ago the agent told me they need £212k 6.. Yesterday the agent told me 'offers over £200k' only 7. Neighbouring propoerties recently sold for £230k 8. The house is in a nice area, SE UK, lots of space, extended 3 bed semi and just what we're looking for 9. They originally paid £90k or so 11 years ago and I'm speculating they have no, or a low mortgage I can sense a hint of desperation from the ventors and I know I am in a good position. Naturally I'd like to use this to my advantage and I'd appreicate your views on realistically what to offer to get this. Thanks ! Mustard Jones
  2. Hi all, Below is part of an email exchange between an EA and myself, (identifying inormation etc deleted). I was enquiring about a house recently posted on rightmove. I can't believe the EA has the audacity to maintain an 'everything is fine' attitude. Comments are welcome ! ------------------------------ Hi This is a serious and sincere mail from my side, not just a rant, honest. Are these guys serious ? They bought it for 153k in April 2010 and today want 215k !!. Prices have dropped year on year over the last 12 months, the market is tanking daily, sales volumes are tiny, houses are on the market for ages now before being sold, mortgage approvals are at an all time low, austerity measures and new taxes are just kicking in, fixed rate deals are evaporating, inflation is rocketing eroding our spare cash, interest rates can only go up, houses prices don’t always go up....blah blah we both know the score here I’m not having a go at you here, this is a serious question from my side. I do want to cash buy somewhere ASAP and I feel that certain sellers either have no idea what is going on in reality or are deliberately overpricing their houses so buyers can get a perceived ‘great deal’ when negotiating a discount. If these owners are serious about selling at a reasonable market price then I’m serious about looking at this place and if I like it getting into discussion with them I’d appreciate any feedback you have and also if you could provide my feedback (in a tactful way) to these guys Thanks --------------------------- The present owner purchased the property in 2010 and have spent a lot of money doing it up, it was a complete mess, Kitchen, bathroom, central heating, windows, they converted the garage, re decoration,etc. I would imagine they will sell it for around £200,000. We are finding the market just normal, I have been in this job since 1972 through boom and bust markets, just a traditional market really, sales levels around the normal amount we would expect, don't believe all you see in the press. Kind Regards
  3. Hi all, I'd welcome your views here. I've found a house I really like and would like to put in an offer, the background is I'm a cash buyer with nothing to sell The house was listed a couple of weeks ago at £225k and I like the area - it was bought for £206k in 2006 It needs a new boiler and some superficial work on the extension, estimate about £5k of work needed The owner is renting it out, apparently he lives far away and wants to buy another place nearer to where he lives....I don't believe this is a distressed sale, yet ;~) I know this is not a detailed overview and that I also haven't (intentionally) put a rightmove link in this post, however given the state of the market and my strong commercial position I'd welcome your views on what to offer. I was thinking of offering £195k, no negotitions, take it or leave it to the EA. What do you guys reckon is a reasonable offer given the market ? Thanks ! Mustard
  4. Hi all, My girlfriend owes about 2 grand on her credit card to a high street bank at about 9% interest PA and pays the minimum payment every month. On Saturday evening about 20:00 her bank called her and spent some time trying to persuade her to increase her payments as much as possible. I would have thought the banks would want everyone to pay the minimum payment so that they can they can maximise their profits. Instead it appears that they are spending their own cash to try to recover the debt as quickly as possible. Does anybody have any idea what's going on ? Thanks
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