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House Price Crash Forum

PbroAgent

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About PbroAgent

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    HPC Poster

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    Peterborough
  1. Yes I am an estate agent. Gazunderers like you make my blood boil. Why should anyone have mentioned the recycling plant? Agents work for the vendor - that is what searches are for. Well clearly you weren't or you wouldn't have said you might reduce your offer. I notice they started issuing the deadlines after you threatened them. You should either exchange at the price you agreed or withdraw.
  2. Something doesn't ring true here (rereading it again, many things don't ring true here!). Firstly the average STC transaction time is 10-12 weeks. You've had the christmas shut down and you're buying a leasehold which is always more complicated for solicitors, so you shouldn't be getting antsy yet. If "the delays were due to the management company in charge of the freehold not being forthcoming with critical information" on the house you are buying then you and your solicitor couldn't possibly have been ready to exchange and couldn't possibly "have had things sorted for months". It is perfectly reasonable to allow someone a fortnight between exchange and completion, to organise for packing and get time off work. To make it sound that your vendor is being unreasonable is disingenuous. You are nothing more than a cheap lowlife gazunderer, waiting until the eve of exchange to scupper the deal and renege on previous agreements! The delay has not been unreasonable and as an HPCer you should have been more than capable of factoring any anticipated drops in your original offer. Good for him, he has called your bluff and now you are getting worried. The agent and vendor don't trust you, your word is now worth less than an Irish gilt. The vendor clearly now can't afford to buy the property they were buying or doesn't want to take a hit off you and is looking for a fresh buyer. Are you for real? You are the wrong-doer in this situation. If you still want this flat, I suggest you phone the agent in the morning, apologise for your actions and see if the vendor still wants to sell to you! :angry: :angry: :angry:
  3. I saw this eyesore the other day link I think it looks like a bungalow with a box plonked on the apex of the roof
  4. Much the same in Peterborough, it was easier to sell a 300k+ house than an FTB 100k starter home last year. This was mainly for three reasons, FTBs had no deposit and were like rocking horse sh!t; people in 150k+ houses tended to have equity and could rent their existing home out in order to buy on, freeing others up to also buy up-chain; and the asian market in Peterborough was active - these buyers often have multiple properties to release funds from, live as large family units often with more than two incomes coming in and have access to non-bank finance (local community cooperative funds) - again freeing people to buy up-chain.
  5. +1 I'm not seeing any common theme in home movers, Its for all the reasons quoted and more.
  6. New builds are usually overpriced and can lose about 15% of their value on the day you move in, much like a new car when driven off the forecourt. For this reason banks usually require you to have a bigger deposit if they are to lend you a mortgage (80% as apposed to 90% LTV). As they are purpose built there can be advantages over a converted property, also you may get to chose the internal decor and fixtures and fittings. As with any purchase remember the old adage "caveat emptor". Good luck
  7. Ello Ello Ello? What's all this then? Someone wants my advice? Offers in excess of can work very well if priced right but is a complete waste of time unless the guide price is so low it has people falling over themselves to make an offer. Eg. House worth about 100, normal vendor might ask 120 (20% too much as per usual) oieo price should be about 65. Low enough to get even the tightest HPCer reaching for their calculator. The house prob will sell in the end for 96. What usually happens is vendor wants 110 on this house that's nominally worth 100 so instead of asking 120 tries oieo 110 (still too high). I'd say offer away and as per usual recommend you offer what it is worth to you (or of course a bit lower to get things warmed up) As for the heating get gas central every time. Assuming gas is connected to the property I think a full system costs less than 5k (but that is a guess - also check for subsidies). Seven years ago Mrs Agent and I rented a poorly insulated Victorian prop with gas fires in the lounge and dining room and elec storage heaters everywhere else. As i'm sure you know they are designed to take the cheap rate electricity in overnight and release the heat slowly through the day. Because we were out all day, we never got to use these properly and ended up having to charge them in the day on high tartifs to get any heat in the evenings. It cost us a small fortune and we got a shock when the lekky bill came through so we ended up switching them off getting a bigger douvet and just relying on the gas fire in the lounge to keep us warm watching telly.
  8. Law society rules bar solicitors within the same firm working for opposite sides. The rules for licenced conveyancers are different and they can and do work on opposite sides. I would recommend you try a different sol and go direct for a quote rather than through an agent who will receive a referral fee on top too.
  9. Can't see me persuading the boss to pay for that!
  10. It's a buyers market, go an offer somewhere else. Someone will eventually say yes.
  11. I think it is necessary to help the HPC. If prices continue to fall, more people will be caught in NE. Available stock will decrease as it becomes pointless to sell which could cause prices to level off or even rise. The more prices fall the more we need policies like these.
  12. Imagine it like an mot for a house, it may be fine and just need approval, it may need tens of thousands spending on it. I would be surprised if you would get a mortgage on it without approval. Unless the vendor can get it signed off quickly or you can get it for 20% of asking, walk away.
  13. Agents must pass all offers verbal, written, emailed or otherwise in writing to a vendor, to comply with the ombudsman code they should also confirm it in writing to the buyer. The agent has no right to reject an offer on a vendor's behalf unless he has written authorisation from the vendor to do so. He may speak to a vendor and get an answer by phone so long as he later follows it up in writing. This call can often take no time at all especially if the offer is lower than other offers previously rejected and buyers can often think that the agent hasn't spoken to a vendor at all. Some agents may have an instant answer from a vendor and then wait a few hours before calling the buyer so as not to upset the buyer too much
  14. Of the agents I know I would say the number is more like 15-20%. I would say though that the vast majority or EA principles in know have BTLs. I agree that employee agents' basic pay is very poor and is topped up with commission. At the peak of the market 60% of my pay was commission now it's down to about 20% and my basic is little more than it was. I nearly bought a studio appartment 4 years ago but decided to spend the money on a big German car. Turns out it was a much better investment
  15. Often if a property has been on the market for ages and gets a viewing, the vendor finally gets round to telling the agent that they decided they weren't going to sell after all but just couldn't be bothered picking up the phone.
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