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Small Potatoes

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Everything posted by Small Potatoes

  1. This is exactly what happened in the last house I sold. Four out of the five houses at the end of the cul de sac were put up for sale at the same time. The fifth house was the family from hell. Needless to say all four houses eventually sold. Family from hell still lives there. (Not one person viewing my house asked what the neighbours were like - that would have been a difficult question to answer honestly!!!)
  2. I must admit I was somewhat bemused by the aga - am guessing it was installed as a status symbol - but in fact just looks random!! Zoopla values the house at under £400k, and Zoopla has a history of over-valuing in this area of the country!!
  3. This property has come up in one of my search areas today (have bought a house but not taken off the Rightmove alerts yet).... Prices in this part of the country have dropped at least 20% since 2007. They bought the property as a new build in 2007 for £435k and are now trying to sell it at £675k. There are a zillion better properties in South Lincolnshire for this much money that aren't directly on the A15! Why are estate agents encouraging this??? http://www.rightmove.co.uk/property-for-sale/property-34944901.html
  4. I'm very legally ignorant , so in lay person's terms what does this mean? We have the uk letting agents address on our AST to serve notice to. The landlord is overseas. Does this ruling impact on us as tenants if, say, we stopped paying rent? Nb we don't plan to stop, but it might help other tenants in a similar situation to us.
  5. On a more positive note - we are currently buying a house from some baby boomers who have accepted an offer which is 25% less than what they put it on the market for in 2008 and 10% off their last asking price. They realised that they just wanted to get on with their down-sizing lives. Life waits for no-one! (PS - I know all the arguments about buying now - but it's the right house for us, in the right place, with the right schools, and is very affordable to us).
  6. A baby boomer family friend has a house for sale for a couple of years. A buyer came along and said she liked their house and another house and said she would buy whoever accepted the lowest offer. The babyboomer refused to sell to her as a point of principle. The buyer bought the other house. The baby boomer is still unsold.
  7. For a similar reason we have had to recently take legal advice on our rental property (but in our case it's that the letting agency is trying to back-track on a break clause) - the property solicitor said that the landlord does have to try to mitigate his losses and the courts would frown on him if he, say, hiked the rent up to a level not supported by the market.
  8. That's exactly what our estate agent did when we sold our house last year... We accepted an offer £10k under the real asking price, but then the estate agent added another £20k onto the RightMove asking price!!
  9. Not yet, but it has recently come to light that our landlord doesn't have permission to let (and the mortgage company knows - long story), doesn't have any valid landlord's insurance on the property and now isn't doing any repairs. (We've rented through an ARLA registered agency so we thought we were covered on the first two points). Needless to say, we're reluctant to stay in this property, and don't want to move to another rented property and potentially then another and then another at the landlord's discretion! I need some security and permanence for my children and the ability to make repairs to my own property rather than living in a house that gets shabbier by the day. I know a lot of people will disagree with my decision and that's fine - we each have different lives and situations to deal with.
  10. I'm a regular/addicted viewer of this site so I know and agree with all the arguments. If, and it's a big if, today's offer does go through to completion then it's a house we can comfortably afford even with big interest rate hikes and because it's a long term house and a repayment mortgage then so long as I own it at the end then the negative equity issue won't bother me in the middle years. Sadly the current rental laws don't give enough security to people with children otherwise I'd happily keep on renting....
  11. I would like to be the same but sadly children's school choices wait for no man and it's a house we can live in until they've grown up and left the nest (even if that's when they are 40!)..... and we've been renting for three years now and the kids want to decorate their bedrooms and have pets.... (neither of which are permitted by our landlord). I envy all those who can wait.... I think the price drops will be a beautiful thing...
  12. Just had offer accepted on place this morning, 20% off 2007 prices (it's been on and off the market since then - Baby Boomers wanting to downside but not sell their house for less than it's worth).... now wondering if I should have waited longer....
  13. If it's positive then I'm sure it will be headline news on the BBC to counteract all the brilliant house price negativity that they've been reporting on this morning!
  14. I read somewhere else on the internet yesterday evening (sorry - can't remember where) that it won't apply to these overseas landlords who are renting out houses (such as when people emigrate and rent out their old family house). I really want it to apply though just to annoy my overseas landlord! Does anyone know for sure if it will affect all overseas landlords?
  15. This makes me so angry - they never think of the tenants. We found out earlier this year that our overseas landlord doesn't have permission to let and can't produce evidence of valid insurance. We are now complaining to ARLA and TPO about the letting agents as this is still unresolved. My main concern is over the insurance (especially for an overseas landlord) - if there is an incident that causes death/permanent injury as a consequence of the landlord's negligence (eg a broken staircase that the landlord doesn't get repaired and someone falls down the stairs) then the insurance company wouldn't pay out damages if they don't know the property is tenanted. Unauthorised tenants also don't have quite the same protection than authorised (though at least the law change in 2010 prevents immediate eviction).... The people above took a chance on the property ladder and lost. Life is tough like that sometimes but you don't then have the right to ask other people to live unknowningly in unauthorised uninsured property. Rant over - sorry!
  16. I had an interesting conversation with a wealthy retired person this afternoon. They said what an outrage that the Conservatives had done this to pensioners and that they'd suffer for it at the next election as they'd all vote labour. I progressed the conversation on the economy (the whole lot, courtesy of my education by this site) until the retired person said "it would be a disaster if labour got in next time, the country would collapse". I then pointed out the irony in what they said.... So many of the boomer generation are really in an entitlement bubble - no concern for the next generation!
  17. Does this mean my non-resident landlord might have to pay tax on his house when he sells it (he's renting out what was his own residence in the UK before he emigrated)? I hope so, I really really hope so but suspect not.
  18. We viewed a house at the weekend (not London) where the vendors put it back on the market for £50k more than they had it on for last year (when it didn't sell). Luckily for me the Rightmove history bit showed that it'd been on for lower. We liked the house but told the agent that we'd be offering less than their lower asking price last year so wouldn't second view unless the vendor dropped his expectations. Estate agent was shocked that we'd done some research but told the vendor - who then said he'd consider offers based on his asking price last year. Needless to say this will have boosted Rightmove's asking price index...
  19. I'm often tempted to drop a note through the doors of vendors like this to say" it's not that the estate agents can't sell your house IT'S THAT THE PRICE IS TOO HIGH!!!!" Estate agents must get very fed up of vendors like this.... though as a would-be purchaser I would feel somewhat powerful to decide which lucky estate agent deserved to get the fees from the sale....
  20. What was interesting is that both Kirsty and Phil went in with what were "cheeky offers" (in their eyes - not in most buyers' eyes) and the vendors accepted straight away, no negotiation... if I was those buyers I would be feeling like I could have got those properties for lower!
  21. I realise that I short-changed myself when I sold my last house - I should have marketed it as a 7 bed not a 4... and perhaps I could have added a few more bedrooms if I had suggested a hypothetical loft conversion and extension. And, thinking about it, I should have included the garden shed as a bedroom in line with what some landlords are doing.
  22. Searching on Rightmove today and found this property. http://www.rightmove.co.uk/property-for-sale/property-37250954.html Is obviously a three bed but being marketed as a four bed..... They are suggesting that the dining room could be used as a fourth bedroom but that's how you access the conservatory so how does that work? Is this a new way of justifiying prices - marketing properties with as many bedrooms as you have rooms that aren't the kitchen/bathroom? This is a blatent ruse to justify asking a higher price than a three bed would command!
  23. We've been viewing properties over the past two months with the intention of possibly buying at a price acceptable to us. We've now put this on hold to see the impact of these interest rate increases... hopefully lots of supply to drive down prices (and motivated sellers!).... I'm sure we won't be the only ones putting things on hold!
  24. We're in a similar situation (but without the private education) - other half is high earner, I'm on much less doing a part-time job to fit round school hours. The money is a nice to have, but we're already budgeting for it going. If this issue is this higher earner "cliff-edge" they keep talking about - why can we not scrap child benefit and move the budget to family tax credits so it is completely means-tested? This would also save money on the administration of child benefit. Or am I being completely ignorant on how the whole welfare payment system works?
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