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Everything posted by cynic

  1. - I'll check this out, many thanks for the link...
  2. Thanks for replies. I will look at the ‘option’ option. Maybe that would be wiser. New taxes? No profit likely on sale, hence no taxes. NHS? Old and dying. More likely to be looking for a nice high bridge to jump off. Regarding time scale. No, I can’t let this take as long as two years (old and dying) so finally will sell at whatever price lures the buyer, spring next year latest. Once the sale is concluded I'll bring back the sterling post haste – at whatever price. I'm looking for the best way to profit modestly from the current more favourable exchange rate (if such a means exists) rather than see yet another euro-problem on the horizon and yet another relative strengthening of sterling before I can conclude the sale.
  3. I'd appreciate some advice on this. Being an investment imbecile, I haven't been able to get my head around the way it works, the ins and outs - the detail of a typical contract, the timing, the risks and costs. Briefly, I'm selling a house in France and bringing the proceeds back to the UK. On the market for a year, the house is stuck in a dead market but further disadvantaged by needing major works and, most significantly, by a huge development about to be built next to the garden. I had a buyer last spring who went as far as signing the 'committing' contract (compromis de vente) but then got cold feet and used a technicality to renage. From what I gather, buying and selling in France is far from watertight. In fact the deal would have completed at sterling's recent peak against the euro so every cloud.... So, while monitoring sterlings slide, mindful of the minimum 3 months it will take to conclude a sale if I find a buyer today and the ever-present risk of another euro-trauma, I sense there will come a point when I'll feel inclined to play it safe and, as far as it's possible to do, lock in an exchange rate. Could anyone illustrate how this works? Today for example were looking at an interbank rate of 1.17 € to £. Let's say I'd like to set up a fix today for settlement within 6 months. Also, what would be the outcome if at 6 months I don't have a buyer or if another buyer has a change of heart and withdraws? Would be most obliged if someone could cast some light. (I've contacted a couple of Forex agents but I'm small beer and they seem reluctant to offer tutorials).
  4. - thanks for that. I'm hoping to get my head round what is entailed in a forward contract when that contract is set for say, 6 months, and my house sale falls through yet again... Back to google but if anyone has a thought about this i'd be most interested.
  5. Greetings to all. I’m in the process of selling a house in France then to bring the proceeds back to the UK. Trying to agree a sale has proved to be a nightmare (a buyer has already pulled out after signing the contract – the compromis de vente) because of a dead market, the need to undertake major works and in particular a local development which may have to be seen through to its completion before a buyer can assess its impact (big, BIG block of flats). This could mean another 12 month wait. Meanwhile, the euro has strengthened relative to sterling over the last couple of weeks and at a rate which I’d be happy to convert to sterling once the house is sold. IOW, I’d like to fix this rate now before we have another euro drama. Could someone give me an idea of how this works, what sort of fees are paid, where the risks are, the duration of any kind of contract and how this might be set up given the uncertainty of a completion date? Are there forex traders who specialise in dealing with the public? Are they much of a muchness or do some stand out as better/worse? Would be most obliged for any insights.
  6. I seem to remember your 2011 'prediction' list putting the FTSE at 7000 even quite late in the year. May we adjust your 2012 list by 30% approx?
  7. I've read a little about your woes in other posts and fully sympathise - when it comes to investment I'd class myself as a middle-ranking failure with every possiblity of being a world class failure in the future. So, FWIW, I used Goldmoney some time ago and Bullionvault a little later on when I exited much too soon but made a small profit. I'd recommend Bullionvault for its much lower overheads plus, when you've deposited some dosh into their account, you can dabble with as little of it as you like while you learn the ropes. A couple of little deals and you'll feel you know when to pounce. Also, FWIW (and to echo Bart's caution, please don't read this as advice!), I've just put some money into my recently dormant account at BV with the intention of buying in again. I'm far too old to risk a significant proportion of my stash but I'll spend enough to feel I've not been left out if there's a continued rise while hopefully being able to react to any loss without a major depression.. - best of luck whatever you do!
  8. I thought LLs just charged 'what the market will stand'. Beyond that, they simply hope for the best and take the cost of new boilers on the chin. Is that not the case?
  9. re food prices - even with the £ these days very much lower against the € than its once 'normal' 1/1.5 - shopping seesm to me to be a hell of a lot cheaper in Sainsburys than it is in Carrefour or Leclerc - particularly on fish/meat/fruit. I'm in north France for half the year and frequently go back and forth. If the pound drops any lower, don't be surprised if the ferry companies start dropping off cruise ships full of day-tripping francais pouncing on every bogof deal they can lay their hands on. Even if we're seeing uk food prices inflating, it must have been from a very low base.
  10. At least we can distinguish lying from semantics.... http://www.housepricecrash.co.uk/forum/ind...t&p=2004968 [email protected]
  11. a few folk at sharp end of small business loans discussing this very issue right now on 'you and yours' R4 - or listen again later... (sorry if this has already been mentioned, didn't read the whole thread)
  12. Yes, I can honestly say I feel exactly the same way although curiously my loathing of each PM, starting with Thatcher, has grown. Now with Brown it's truly off the scale, so this might be something to do with my growing disillusionment. On the other hand, I don't believe Brown has any capacity at all for reflection or honesty, either with us or with himself. That singles him out IMO.
  13. Drop a note through the owners letterbox with your offer and address. Add a line or two about the market uncertainties and how you'd like the owner to hang on to your note in case he has a sale fall through,in which case you'd be there as a back stop. No point in sodding about with the agent. What an @rseole.
  14. I'm still uneasy about this. Even if it were possible to educate UK owners to an understanding of the ills of HPI, they would still come out in droves to vote for the party that gives it to them. Worrying times.
  15. In other words you were laying a bog-standard, smug-git wind-up on Harry when you said:- "Also, good move resorting to childish tactics trying to troll me again. I haven't had my house valued in a long time, but given that I bought it when I was 19 in 2001, I'm not really that fussed." in other words your were saying "I bought my house such a long time ago I must be quids in by now". Whereas, in an earlier post, you admit that the house you currently own is down 15%? You lied to big yourself up.
  16. Steve Cook set off a thread in a very similar vein which would be worth reading:- http://www.housepricecrash.co.uk/forum/ind...=100662&hl= I still feel as then that care should be taken not to sound so canny that they think you're a pro. More to the point, if you've rationalised your strategy so carefully that it becomes a formula, then it might suggest lack of flexibility. I think you need to display an air of good knowledge but leave them with an impression that they have some power in the negotiation. Let them know you're looking at several properties and will go with the first one to bite. OTOH you believe the market is falling so you're not in a hurry. Nothing mind-bogglingly clever and it'll help them to see it from your point of view. Is it a couple selling? Do you have a pretty, homely partner you can take along to soften their hearts? If not, perhaps rent one?
  17. Whatever your strategy, try your best to be and remain likeable (I'm not suggesting it doesn't come naturally to you).
  18. You sound very determined so I wonder if you could explain how the 'vast vast majority' of people in this world can become richer by buying something, owning it for a while, and then selling it? I can see how this works for a modest subset of people; it can work for some at the expense of others and can work periodically. But how does it work for the 'vast vast majority' and how does it go on for perpetuity? Or do you see a fault line anywhere? Are you an estate agent? (edit spelly)
  19. It's all been covered ad nauseum in this forum but for those who 'know the arguments' yet who've failed to understand the potency of the credit bubble, it's effect on HPI, and the consequences of the collapse of the credit BUBBLE here's a nice little primer to get you started... ....posted nearly 2 years ago... http://www.housepricecrash.co.uk/forum/ind...c=53593&hl=
  20. 'Spring bounce' driven against all the most rational odds by greed, fear and stupidity.... "It's the credit bubble, stupid."
  21. Not heard about the credit bubble then?
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