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janch

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Everything posted by janch

  1. Someone wanted to gazunder me at the last minute and I told them to stick their offer....the sale fell through. Served them and the EA right and was worth the loss of sale as I didn't want to deal with such a person. To be fair I was getting all sorts of hassle on my purchase at the same time so I called a halt to all of it and started again a few months later.
  2. £10K is quite a lot to lose in the real world but in the world of London property prices it's peanuts. Still by this time next week you might be looking at losing £20K or more......
  3. New builds are often sold for less than the original price if sold on within a few years of being built as the original price is deemed to include a "developer's premium" ie you pay more for a brand new property. See if you can find out the previous price paid (you can find this on Rightmove under "sold prices" if the property is advertised on this site) and then you know better how to pitch your offer. I would also go in low. You might strike lucky.
  4. I worked in a stockbrokers for a while (in the 90s) just filing but saw the day's trades as I filed them away. These brokers took a commission on shares when they were bought and sold so gained on both sides of a trade. I saw files of day traders trades and they seemed to be losing as much as they made at a first glance. Most clients had portfolios of shares which were managed for them by the brokers and not all were what I would call rich by any means. The most lucrative business for the brokers was managing dead peoples' estates for probate as they charged fees for valuations and then again for selling the shares in the accounts.
  5. janch

    Mmr Anecdotal

    Fancy them wanting you to have a stocks and shares ISA rather than cash ISA. Are they mad? Stocks are also ripe for a crash too. IMO. Do own diligence/caveat emptor etc etc
  6. Agree wholeheartedly tooo........
  7. NB There is a delay of approx 3 months in Land Registry figures so July's really reflect selling prices in about April.
  8. Interesting.....here we get to the same place when we get the basic state pension which is enough to live on if you prefer the freedom of not having to work for a living and adjust your circumstances accordingly. It's a pity one has to wait so long to get to this point though. Also I don't think you'd be able to do as well if you had to pay rent so this is another reason to want to own your own house.
  9. Don't forget to ask about the service charge and length of lease. Also if there's a lift....looks nice but good to look to the future and will the flat be OK if there are any future health issues?
  10. Yeh, trickle down must be dead in the water....we plebs should stop the intergenerational warfare as "divide and rule" plays right into their hands.
  11. I bought a new build at the end of 2008 (in Wiltshire) and prices of new builds were reduced then too. The developer was finding it difficult to sell for the next year or two. The house I bought (2 bed terrace) was approx £35K less than the equivalent houses were a few months previously. Unfortunately the house I sold in order to buy was also lower by about the same amount so I didn't really gain anything but for any FTBs ready to purchase immediately it was a good time to buy. I thought we'd had the top then but I'd reckoned without the bounce which came after but it seems like this time might be different. I hope so then all those FTBs priced out for the past few years may be able to buy this time.
  12. .....or bring forward the date of the election to the autumn.......?
  13. The only positive thing I took from the programme was when a builder guy(?) was saying that there were places which had been derelict for years now being developed and if it wasn't for all the overseas people buying up front off-plan there was no way the building would have been developed eg Batteresea Power station. So when the bubble bursts and all the Chinese/Malay etc sell there should be a lot of new flats coming on the market at knock down prices for Londoners to buy! Hopefully.......
  14. My point is that Dot possibly could have bought years ago and now been sitting on a fortune but of course there's no way anyone in her circumstances would be able to buy today. If you go to relatively posh areas in London there are plenty of older folks who bought years ago and are still living there but if they were to try to buy their house today they wouldn't be able to. I saw a documentary sometime last year about a couple who bought an old Victorian house for £18K in 1983 as a slum, did it up and it was now worth several million. I think it was in Notting Hill but I could be wrong on that. It stuck in my mind as I bought (with my ex) an equivalent house in Cardiff for the same amount about the same time but that house would today be around £350K......an amazing capital gain but nothing like the London rise.....however trying to live in it and do it up with no money and with little kids was a nightmare but that's another story.
  15. But Dot has lived there for years and if she owns her house she is sitting on a fortune. She should sell up now while the going's good and move to an old folks home. This would free up her large house for a deserving family. Quick...London prices are going down! Pity she hasn't got any heirs to benefit from her fortune. (Nasty Nick is dead). She wouldn't need to work in the laundrette and there would be a job for a deserving youngster and she could enjoy her retirement spending her housing wealth and boosting the economy.
  16. Yes, banks don't like people they can't make much money on. They hate it if you always keep your current a/c in the black and don't ever incur any fees for going overdrawn etc. I must be one of their worst ever customers.
  17. I'm surprised they got planning permission.....perhaps they didn't.....
  18. If property is left empty then it's high time for an army of squatters to get to work. I don't suppose the desirable new-build flats will be so attractive to overseas buyers then. It would be worth a little social disorder and a few jail sentences to make a point. I'm amazed it isn't already happening. It did in the 70s. Public policy would have to change then in the way Islington are proposing (or other similar ways) in order to get housing lived in.
  19. In my experience the EA worth his salt starts the real work after a sale has been agreed. They can see if the "buyers" are genuine or time-wasters and check put their financial position etc. They can also guide the process and can prevent chains collapsing etc. Also for viewings I find it better to get a third party to do it and get out of the way myself so that the potential buyers are looking only at the property and not swayed one way or the other by me or my family.
  20. Arguably his extension is more in keeping with the house than hers. I've never seen a house with "wings" before and I wouldn't buy it whether or not it's £100K dearer/cheaper!
  21. I don't go to Zoopla but if you go on Rightmove you can find sold prices for houses in the street for several years back and if your actual house is on there you can link to other houses in the street directly often with pictures so you can compare details eg no of bedrooms/general state of the place etc so then you know you are making fair comparisons. You might even find out what the vendor paid for the house you are after and how long ago which is always useful to know. Good luck
  22. Also as FTB you are in a very good position as there is no chain. Point this out to the dozy EA to pass on to the vendor.
  23. Good luck.....I agree stick with the offer you've made. If they're desperate to sell then they'd be fools not to accept. Never mind what the EA says.
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