Next Door Available For 43% Less

[Van]

What would you do if you were trying to sell this...

... and this was next door?

[the flying pig]

i didn't scrutinise the details, but isn't the cheaper price basically an asknig price for an auction, whilst the higher price is basically an asking price that the vendor expects to be bargained down?

still amusing though.

[Sibley's Love Child]

Very interesting; it will be interesting to find out how much the second property goes for at auction.

Edit: Further to this, i've just noticed that the cheaper property is also two bedded.

Unlucky son.

Edited April 8, 2009 by hyperinflation-a-go-go

[justwatching]

What would you do if you were trying to sell this...

... and this was next door?

"oops2 is what I would say.

Ha ha an aucton property next to one that isn't. Top spot. The auction one is two bed though all for 100K+. One bed for 190K. Oops again.

100k one sold for 150k nov 04. Could be worth a bid?

[the flying pig]

if the cheaper one wasn't an auction, a possible strategy would be to phone up next door's EA pretending to be your neighbour and say something like:

[cough cough] sorry i've got a terrible cold so my voice sounds a bit different... but anyway, about the flat, i've decided to increase the price by a hundred grand... i heard kirsty allsop on london talk radio talking about pent up demand & so on, it seems abundantly clear that only a fool would let it go so cheaply... grateful if you could update the details in your window and online, thanks

[dances with sheeple]

Interesting post. Thanks. With more and more of this happening, deluded sellers will just have to take their financial medicine,and go through the financial learning curve? I don`t see any other way for them?

[Joey Buttafueco Jr]

What would you do if you were trying to sell this...

... and this was next door?

Van,

Give them a call

[Van]

I know one is at Auction. I actually stumbled across it while researching Barnard Marcus's auction lots.

The point is it doesn't help your own house value if another house up the street is at auction for much less.

I am seriously thinking of buying at Auction this year. Here's one that I am keeping an eye on, as it is in our area: http://www.eigroup.co.uk/auctioneers/templ...=1&l=535635

No idea what the interior is like though.

[RichB]

I know one is at Auction. I actually stumbled across it while researching Barnard Marcus's auction lots.

The point is it doesn't help your own house value if another house up the street is at auction for much less.

I am seriously thinking of buying at Auction this year. Here's one that I am keeping an eye on, as it is in our area: http://www.eigroup.co.uk/auctioneers/templ...=1&l=535635

No idea what the interior is like though.

That might be quite tight on the mortgage though - if thats what you are aiming at.

99 years from 85 - so 75 years remaining. Most mortgages expect 25- 50 years remaining after the mortgage period, so even if you did get it mortgaged, when it came to sell in 10 - 30 years time you might find it very difficult to shift.

[Nationalist]

Neither seems to be a private sale. The 2-bed is a repo "sold by order of..." etc and the 1-bed seems to be still owned by the developer.

Nice find though!

[PropertyGuru]

Beckton.

New build.

1 bed.

190k.

HAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHA

[fluffy666]

... and this was next door?

Magnolia. And some new kitchen units.

Sorted.

[Guest UK Debt Slave]

What would you do if you were trying to sell this...

... and this was next door?

A EA friend of mine related a similar story to me but this one is a classic, in a league of its own

[thecrashingisles]

What would you do if you were trying to sell this...

... and this was next door?

At times like this it's always best to think, "What would Rosie Millard do?" The obvious answer is to 'snap it up' and stick it back on the market at a higher price.

[VeryMeanReversion]

I just updated a posting in the anecdotal section along the same lines:

Property 1 asking 600K+

Property 2 (neighbour) then does the same thing

Property 1 reduced to 450 then 325 then auctioned. Withdrawn prior, went for around 320K (from memory)

Now this year, property 2 is back on the market for £575K

http://www.rightmove.co.uk/property-for-sa...ncludeSSTC%3Don

The properties aren't identical but very similar, I'd guess equal values.

That's what I'd call an optimist, looking for 80% more than your neighbour sold for a few months ago.

VMR.

[Gone baby gone]

Beckton.

New build.

1 bed.

190k.

HAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHA

Taste the laminate... mmmmm

[gf3]

Just wondered if a crafty seller may bung a neighbour £100 to put his house on the market for a higher price to drum up interest.

[the flying pig]

Just wondered if a crafty seller may bung a neighbour £100 to put his house on the market for a higher price to drum up interest.

that's a really good idea. it wouldn't cost the neighbour anything at all.

possibly a silly question but would an EA accept a listing for a price that was at a stupidly high level?

i know what you're thinking... what i mean is so high that there was no high that, even if the biggest fool ever born happened to stroll up to the EA's window that very morning, there was no prospect of a bid anywhere near asking price ever being made on that particular property?

i know what you're still thinking... i suppose i mean would an EA permit the listing of a property at ludicrous asking price that had been set by someone else rather than the EA himself?

[Rachman]

How do you think drug dealers launder their profits ? Especially in dumps like Beckton. It's the next dry cleaners, takeaway, sauna or taxi firm..... buy a flat through persons or corporate that is relatively untraceable for far too much money - gives you a good excuse for lots of readies around, because you clearly drew it out of the bank and kept it on you, aiiieee.

Then the buyer company claims it's rented for £1,500 a month by some student from abroad whose daddy is paying the rent in cash. And then actually use it to deal from or rent it to Albanian pimps for cash and still claim it's only generating £1,500 a month rent, rather than a percentage of tricks.

Easy money.

[porca misèria]

What would you do if trying and failing to sell, at what you see (rightly or wrongly) as a fair price?

Maybe get your friendly neighbour (who doesn't want to sell) to advertise at a much higher price, to make yours look good value ....

[edit] Oh, someone already said that [fx: crawls back under his rock]

Edited April 8, 2009 by niq

[General Melchett]

Go round there and shout at them for lowering the value of the neighbourhood

then, when that doesnt work

Tell anyone who will listen that they arent really selling for that much, it's just a marketing ploy to get people in

then, when that doesnt work

Try and persuade them to drop their price a little less, if they do you'll buy them a drink

then, when that doesnt work

Have the drink yourself and cry

then when that doesnt work

Give up and lower your price.

Have I missed any stages out ?

[BufferBear Bitcoin Bull]

What would you do if you were trying to sell this...

... and this was next door?

Cut my throat

[the flying pig]

i've found a 44% - both are three bed, neither are auctions or whatever. the more expensive place has nice decor but we're talking about nearly a quarter of a million pounds' difference for a pretty small place - i can't imagine it costing much more than £50k to get the cheaper one looking really good.

LINK

i chanced upon this having previously nominated the more or expensive of the two on an 'overpriced sh1tholes' thread.

Edited April 9, 2009 by the flying pig

[brumroccoco]

I see your London & raise you a Birmingham. It may be difficult to sell this for the asking price;

http://www.rightmove.co.uk/property-for-sa...s%26index%3D350

When an apartment in the same development and to the same spec sold (at auction) at the end of 2008 for 54.44% less;

http://www.nowinnofeesolicitorsuk.co.uk/hp...1570&lid=67