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Twenty Something

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About Twenty Something

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  1. You don’t agree with the massive crash dialogue therefore you are an EA or a BTL scumbag. It gets rather boring doesn’t it. I got accused of having an agenda the other day because I questioned someone’s anecdote about how nothing is selling in their area and they have two friends who can confirm it all. Yawn.
  2. But the mortgage using buyer isn't relying on the valuation, the bank is. If they pay extra they can get a better report, but the purpose of the valuation is for the bank to understand whether or not their money is in safe hands. I can bid what I want, but the bank isn't going to necessarily lend it to me. Plenty of threads over on sites such as MSE where the bank has undervalued the property and the whole deal is off. Even if they did, why does relying on a mortgage valuation mean that they are ignorant of warnings? Bit of a grand statement? Who knows about your individual buying history
  3. But then presumably unless they are paying in cash, the valuation will come back 50k less than they bid and it will all fall through anyway? If a house sold with a mortgage for 275, then presumably however much of a bargain you think there is to be had elsewhere, a RICS valuation broadly agreed with it? Even if it was a drive by valuation, I doubt it can have been 20% or so wrong?
  4. What agenda is that? Using a land registry search for the KT2 postcode if I’m going to guess roughly where you mean, it brings back 74 sold properties since June 1st. Infact, going from KT1 to KT5 which is where I got bored, the lowest number of sold properties is 32. Why does anyone disagreeing with the assertion that everything has gone to crap have an agenda? Why on earth would I be posting to 50 people on here if I did!? Keep up the pointless anecdotes though - read similar for literally decades and precisely naff all had happened.
  5. Exactly what we did 3 months ago too. I've already posted how the near identical house opposite us went SSTC after two weeks on the market for 100k more than we paid. You just get to that point in life where you think ah heck hey!? I've been on and off here for the past 17 years, so slightly longer, and although I too agree with the sentiment, it is pretty obvious to most sane people that the enormous crash isn't coming. A slight correction or a couple of years of 5 - 10% drops? Yeah sure, but the 70% + falls that some of the regulars on here are stating as fact are laughable. Interest rates a
  6. There have been more than 6 houses sold on my London street alone since June, so you either live in the middle of nowhere or have a search area the size of a hula hoop.
  7. But you are ignoring the assumption that I would make that people buying a 3 bed terrace are unlikely to be first time buyers. They are likely to be couples + / - children who need the space for a family. When you then take 2 people earning 25k per year for arguments sake, that gives them the money for a 3 bed terrace or a semi (going on your figures) depending on deposit size. Does a 25 year old party animal have a need for a 3 bed terrace? They might want one, but I'm not upset by the fact that they can't have one. We brought a 4 bed terrace over the summer, so the answer to the
  8. Lots of money chasing a scarce product. I'm sure there's an analogy for house prices here somewhere...
  9. Given how fantastically wrong the OP and others have been over decades, I am worried now that a crash might actually happen if he is saying it won't. Didn't he start a thread a month or so ago saying that the summer was the peak and having another go at calling the start of the crash? Guess he can come back in the new year and start another killer bunny thread of how he's been in the wilderness but the time is right now to come back, it's on everyone, yawn...
  10. Went and looked at many houses start of this year, and offered on our one after two viewings in the bad weather back end of January. Who cares what the weather is doing? I drove to the house and remained inside it other than having a quick walk to the bottom of the garden. I can get that the two weeks or so over xmas is a bad time for house viewings as everyone is busy etc, but I don't buy into this whole seasonal thing with house viewings. As others have intimated, what are you really going to know in a few months time? If you do get your huge crash, it is unlikely to be off a cliff but
  11. If that's your view then fair enough, and I can see where you're coming from, but it highlights the issue with seeing housing purely from an investment point of view. There is obviously the financial side, but in my view it is driven largely by emotions and gut feeling. So, you can't just say forget this one there will be another along in February as there very well may not be. There really aren't 100 others just up the road. When we brought our one earlier this year, it was the only one we were interested in, and since purchasing I haven't seen anything on Rightmove that I would rather have b
  12. Because in exactly mid February the perfect house will magically appear and he will be able to get straight to the front of the queue. Isn't life so easy.
  13. Ah yes, sorry you did say. Shouldn't be an issue then I guess as long as the money is all clean and you can prove where its come from. I found the laundering checks pretty straight forward to be honest. We had money in a few accounts, and it all got pushed through pretty quick smart. In terms of the advice, you are going to get 5 pages of people telling you to offer 70% below asking price, interspersed with some insults. The property is worth what it's worth to you, so if you are comfortable with it then go for it. Balanced opinion you will not find on here...
  14. This bit I think is going to be your issue. Having gone through this process recently ourselves, the banks are quite specific as to what they will and won't accept as a gifted deposit. From the Halifax who we went with below - family friends cannot gift you money. Acceptable Not Acceptable Parents, step parent, parents in laws Family Friend Brothers and sisters, half brothers and sisters, step brothers and sisters, brother and sister in laws
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