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House Price Crash Forum


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About Pensive

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  1. I have just met someone who doesn't want to buy their lovely council house. I do mean lovely. 3 bed semi with a large garden in a pretty village. He could buy it for a song but as he says Why? He has a low rent All repairs are done for him He has security of tenure and as he has no pension when he retires his rent will be paid. So he's enjoying spending today for the futures taken care of. Must beat being mortgaged up to the hilt!
  2. After yesterdays revelations of the BOE manipulation, which Brown must have been fully aware of, consider how he lied with his famous "No more boom and bust " all the while fueling the biggest boom ever. He must have been laughing his socks off. I'm wondering if he's laughing this morning, now its been made public ?
  3. I was talking to an EA yesterday, he said he thought there would be a flood of property coming onto the market within the next couple of months as if one signs up before 1st June, homebuyers pack not required till 2008. He also thought there was a definate possibility goverment would do a u turn. Considering it's just over 2 months off it will be interesting if the "herd" panicks if the u turn doesn't happen. I remember how manic it went in 1988 when the miras rules were changed. The press ramped it up as if no one could buy a house afterwards but never suggested prices might fall making
  4. I was in an EA in N Wales last week, a trial area for Hips. The phone rang constantly with people wanting valuations. The EA kept having to explain there was such a demand for valuations there were no appointments available for at least 6 days. |(They are giving free Hips and advertising it extensively) Another EA had 90 properties for sale, 44 no chain and only 2 under offer. I get the feeling there is going to be masses of property coming onto the market with people trying to off load before June.
  5. Perhaps I didn't explain it very well. We are buying their house but the survey is required on the house they are purchasing. I know both parties involved it and this command for a survey is definately coming from their solicitor
  6. The owners of the house we are trying to buy have been told by their solicitors that they must have a survey done on the one they are purchasing. They had an architect look at it which they were happy with and they don't require a mortgage. Can a solicitor demand this? We are about to exchange contacts and this will delay things? The solicitor said its necessary for insurance. Has anyone come across this before
  7. I'm not really being hard hearted its just that its been dragging on for ages, with 1 delay after another. We should have completed a couple of months ago. If all parties have exchanged contracts then the date is set for completion, probate would delay everyone which would be vey difficult Its not our vendor whose ill its further up the chain.
  8. This is a bit of a strane one, we are in the process of buying, its a very good deal. However I 've just heard a peson further up the chain has become very ill. We should be exchanging contracts in the next few weeks. what happens if he pegs it after exchanging contracts. Can his children complete the sale? What would happen if he died before exchange? He wants to go ahead with the move but I,m getting worried.
  9. Having followed this site for about 2 years and waited for prices to drop, due to very difficult circumstances decided we could wait no longer and really needed to buy. I've poured over Rightmove, signed up with agents etc but everything seemed so over priced. Last week we arranged to call in at an agent to pick up some details and got instuctions how to find them, we walked up and down couldn't find this EA so eventually asked someone. She'd never heard of them but just as we were going said "So you're looking for a house, I've got a house for sale" To cut a long story short it was every
  10. if more properties are being repossessed where do they sell? Are they being kept off the open market to keep prices high and do they get offered to property companies? I ask as the house next to my son was repossessed, its been boarded up and I haveen't seen it advertised. by the way its been totally trashed by the locals who have done thousands of pounds of damage before they decided to board it
  11. If there is a life insurance policy to cover the outstanding mortgage which is cheaper thn an endowment outstanding mortgage cleared. Not that i'm in favour, just thinking out loud!
  12. I asked EA in small somerset town for property details. Before handing me details he crossed out the asking price 220 and wrote 225. I said oh can't sell for 220 so incease the price? He said not our idea but the vendor insisted. Got the distinct impression he thought this was a bad move whereas before he might have said prices were going up. Nobody else looking but I was shocked by number of properties under offer. He was quick to tell me people were open to offers
  13. I've been listening to the early morning news on radio 4. No mention of Rightmove showing house prices being down. Coming to this site was the 1st I'd heard of it. BBc usually are quick to report when the latest survey shows house prices have risen again and always present it as good news. Lets hope this good news for bears continues
  14. I saw a property advertised as a 'mature 4 bed detached' in Devizes. New on and no picture. Transpired it was a 70's house, this is now considered mature. Apparently the 250 price tag reflected the fact the house needed updating and would then be valued at 300. I checked land registry for that road and found that 2 identical houses had sold earlier this year for 260 and 265 so what on earth is a 300 pound valuation based on
  15. The point I trying to make was the influence of the builder to bring the house price down. Interestingly the EA has another property also priced low from the same builder. This should effect the asking price of similar properties in the area
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