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About larrydavid18

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    HPC Newbie
  1. When do iran flood with their oil? Oil prices imo is the final death of the false recovery. If you take the biggest cash investors in london i bet you will find it is mainly middle eastern/russian oil barrons. We have been on emergency rates for 8 who years, signs of the ftse down 5% in the year of 2015 said it all to me. Lets face it, mid 2016 we will be finished.
  2. I agree, spoke to my uncle and he happy seems as long as the valuation is all good, hes happy to split down the middle. So its just a question of agreeing on the overall price, divide by 2 and be done with it. As i mentioned before i know some Hard-nosed bastards that made me a bit paranoid that we were getting ripped off or something like that. At least with you guys you have reassured me that we are not. Whats your take on break fee if you were in my shoes mate?
  3. Can i just state, i dont want to screw anyone of anything. I didnt even know of this HMRC shite, until a number of property savy friends came out with all this, "discout this and discount that," and "Open martket value this, and its not worth the same as that" etc. And as i say, i dont want my Uncle being "screwed over as well" as you put it. but honestly it did not even cross my mind. originally i was innocent and thought value house then 50/50 split. It wasnt until a number of different people in my life played devils advocate and started showing some hard nosed side of things in pub discu
  4. Excellent points. I think you are right mate. I think this sounds best. We are getting proper valuations after all and not estate agent "what you want to hear valuations" stuff. I guess a deal will come through and hopefully all will be sorted. But if worst comes to worst reading your guys sound advice i think ill have to shut up shop and put the house on the market for both of us if a deal cant be reached. Hopefully that will be worse case scenario, but hey, life's not perfect. Again many thanks for you guys honest advice. As i stress, we are in embryo stages of getting it priced up and it
  5. True. I think that sounds best. It really is weird situation to be in, as there's no real protocol for this scenario. The scenario ive read up on are couples breaking up, being tenancy in common, and then one of the partners buys out the other half. That seems simpler as i guess the person thats doing the buy out is getting the full share of the property(do we ever truly own the property ), job done. But this is more complicated imo as we are dealing with equal shares. Very messy. Any other advice would be great, remember, nothing has been negotiated as yet, and at the moment we are gettin
  6. Lets takes the fees thingy a side for one minute. So you think take the agreed price/2 and boom done? As i say ive agreed that 15% is extremely high, would say a 5% discount reasonable. Would you if you were my uncle feel that half a house is worth exactly the same as the market value we have agreed on. I think pure business terms here, i honestly am not trying to be a ***** about things. For example if i bought a new tv, opened the wrapping, realised i didnt want it then decided t sell it to you 1 minute later, then surely you would want 100 percent value price, as its second hand. So you w
  7. of the whole house or of half a house. Lets say you are my uncle, we agree the house is worth 210 000(in the mean streets of birmingham as a whole sale. We all mutally agree that the house is worth that and no complaints there. From there, what do you feel is a fair price for my uncle. and what do you feel is a fair price for my friend. is it a simple case of 210 000/2 boom, which imo seems top heavy for my friend. or is it 210 000/2 discount 15 % accordig to HMRC, which against i feel biased to my uncle and unfair on my friend. or it a simple case of my uncle clears whats owed in the mortga
  8. Hey thanks for the reply. I am no way being tight, as i say i would have never considered these things until other people started giving me hardcore advice which kinda messed with my head. and as i say, i am also representing my uncles interest as well, not just my friends. Thats the reverse implied of all this. My uncles very close to me as well, and always looked out for me. He does not have to help me out remember. plus i am not sure what my friend will do, i am not sure hes ure yet. But surely that does not concern my uncle does it? But yes i agree with you about the friends thing, you so
  9. Thats the key, equity. Lets say the house is 210 000 and we agree on the that. We got the house 190 000 with sharing exactly equal a 19000 deposit. So hes put in before we have even started 9.5k, we both paid of 8 k each, plus the house has gone up 20k. So if i am correct his aim would be get as much back of a 27.5k equity in the property. So you were my Uncle, what would you pay back in equity to him. Please elaborate on your point mate.
  10. Very good point, and by the want i do not want to pressure anyone. I am very confused at the moment morally and business wise what to do. To be honest i would have never contemplated all this "astuteness" if it wasnt for certain advisors putting things in my head and making me paranoid. As i say i am still very good friends with him, and want 100 percent fairness. But also my Uncle is flesh and blood, helping me out, so i want 100 percent fairness his end So my next would be, if the valuer does indeed mention about the 15% discount, would it be reasonable to say meet half way and say offer
  11. Blimey ive rocked you. I was simply asking for Moral implications of business, and what is fair and what isnt. Ive been a member here for a while, but been inactive. I a not sure if you ar being sarcastic or not? Cheers for the advice though
  12. My problem is not the valuation, its the fact that my Uncle is buying effectively half a house. Thats the key issue here. Say you wanted to buy my friends half off him as you were a mate of his, and we got say two valuers and both said the house was around 200 000. You are getting half a house effectively in a tennancy in common with someone you dont know. Surely in pure business terms half a property does not have the same value as 100% of a property? Surely you would not offer 210 000 then simple divide by two???Or would you or am i talking cobblers? I know for a fact that when HMRC do valu
  13. Hi there. Sigh-Hear me out, i am not very astute on property so sorry if i dont give you all the correct info. and sorry if my knowledge is poor. But i would be very grateful for you advice. Right, me and a friend bought a 3 bed house for £190000. We have a Mortgage exactly 50% each(we pay just over 500 quid a month on a 4.9% interest). It is a 5 year fixed mortage. We are Tennants in common. So far we have paid off around 9k each. Anyhow, he wants to move out, as he getting married and wants to settle down. According to Zoopla the house will be around 210 000. We had a chat i have have ma
  14. youll like this one mate http://www.youtube.com/watch?v=fGIYy094JaE&feature=related&oref=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3Dp0XBz6Iu470&has_verified=1
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