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House Price Crash Forum


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Posts posted by MrPin

  1. I fell for this when I was younger - the mystery buyer from nowhere. Cost me 5 grand. Grr.

    I had an agent try this when we were buying a house in Oz. My response was 'lucky for the seller. I wish your buyer luck.' and cut off all contact with that agent.

    They called me a few days later saying the deal had 'fallen through'. By then we had offered on another house. Hard luck you twaooack.

    Houses/Flats are NOT unique unless they have something like a view of Big Ben. Do not fall for their lies.

    A view of BIg Ben would be remarkeable in Australia, and a fine selling point! :blink:

  2. Part of the reason that prices stayed resilient post the last "property crash" was that Bank's did not enforce loans in default. Instead they utilised forbearance schemes to "extend and pretend". This meant that the market was not flooded with repos. The last time Banks pulled the trigger in big numbers was the early 90s. They won't repeat that. They'd rather roll it all forward. Only if forbearance rules are strengthened significantly will they perhaps need to appoint receivers in large numbers as getting 80p in the £ may be better than the capital they have set aside for defaulted loans.

    Yes I remember the early 90s. A few people I knew ended up homeless. Handed in the keys, and "disappeared".

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