Jump to content
House Price Crash Forum
Marcos Scriven

Exchanged Contracts On Sale Of My Single Btl Yesterday - Phew!

Recommended Posts

Well, more 'Keep' To Let than Buy To Let, as I lived there for three years, and rented it out the past five.

Sigh of relief - I've seen the recent stories of a suposed 'recovery' lately, but I think there's quite a way to go. Think I've been very lucky indeed getting out of it.

Only reason I kept it until now is I remortgaged it to help buy a new flat back in mid '07 (how dumb do I feel now). That locked me into a two year deal with a 20k ERC. But since Mortgage Express (Bradford & Bingley) went bust, they offered to waive the ERC between Feb and June. This tied in nicely with the end of the current tenancy.

Even more stupidly, I did consider selling it at the time I bought my new flat, and was even offered £350k. It exchanged yesterday for £312,500. It was on the market for 6 weeks, but got VERY lucky when the agent found a Euro cash buyer - little London pad for one of their kids for uni I think. I think 11% off peak is fortunate - I only had two other offers from 20 or so viewings, both at £290.

I bought for £190,000 back in 2001, so I can't complain too much. Shame that all that 'profit', and more, has effectively been swallowed up by the drop in my new flat. I reckon it's 'worth' around £470k at the moment, down from £535k, based on recent sales (there's a lot of readily comparable maisonettes on the same street). I would expect it to bottom out around the £350k mark.

Anyway - a little bit of anecdotal material for you.

Marcos

Edited by Marcos Scriven

Share this post


Link to post
Share on other sites

Not sure how me telling you how many tens of thousands of pounds I've lost could in any way be considered boastful? Or how stupid I was to buy at the peak of the market?

Surely this kind of actual experience is partly what this site is about, no?

Genuinely posting my experiences to the forum - responses like this won't really encourage others...

Edited by Marcos Scriven

Share this post


Link to post
Share on other sites
Not sure how me telling you how many tens of thousands of pounds I've lost could in any way be considered boastful? Or how stupid I was to buy at the peak of the market?

Surely this kind of actual experience is partly what this site is about, no?

Genuinely posting my experiences to the forum - responses like this won't really encourage others...

Well I must admit to being a bit flippant due to alcohol but really I dont understand how unloading your problem onto a greater fool is within the ethos of this site.

?

Share this post


Link to post
Share on other sites
Well I must admit to being a bit flippant due to alcohol but really I dont understand how unloading your problem onto a greater fool is within the ethos of this site.

Not sure about that. Selling off a second property strikes me as entirely within the "we don't like BTL" ethos. There's also the rather interesting aspect of someone who holds investment property electing to sell it.

Share this post


Link to post
Share on other sites
Not sure about that. Selling off a second property strikes me as entirely within the "we don't like BTL" ethos. There's also the rather interesting aspect of someone who holds investment property electing to sell it.

Yes I will relent. I've tried rereading his post but keep getting distracted by the squased mosquito on the wall.

Please continue....

Share this post


Link to post
Share on other sites
Not sure how me telling you how many tens of thousands of pounds I've lost could in any way be considered boastful? Or how stupid I was to buy at the peak of the market?

Surely this kind of actual experience is partly what this site is about, no?

Genuinely posting my experiences to the forum - responses like this won't really encourage others...

I notice you've been on here since 06, whereas your assailant has been on here since.... this year. Just tell him to feck off. If everyone left because one person had a go at them on here, well, there wouldnt be many left.

Share this post


Link to post
Share on other sites
I notice you've been on here since 06, whereas your assailant has been on here since.... this year. Just tell him to feck off. If everyone left because one person had a go at them on here, well, there wouldnt be many left.

Bought price: 190K

Sold price: 312K

Wished for price but too stupid to accept but would if offered again: 350K

Now how exactly do you make that much money with no effort or labour - without finding a greater fool?

Sorry, still can't make it past the second paragraph.

BTW ive been here since 2005

Share this post


Link to post
Share on other sites
Well, more 'Keep' To Let than Buy To Let, as I lived there for three years, and rented it out the past five.

Sigh of relief - I've seen the recent stories of a suposed 'recovery' lately, but I think there's quite a way to go. Think I've been very lucky indeed getting out of it.

Only reason I kept it until now is I remortgaged it to help buy a new flat back in mid '07 (how dumb do I feel now). That locked me into a two year deal with a 20k ERC. But since Mortgage Express (Bradford & Bingley) went bust, they offered to waive the ERC between Feb and June. This tied in nicely with the end of the current tenancy.

Even more stupidly, I did consider selling it at the time I bought my new flat, and was even offered £350k. It exchanged yesterday for £312,500. It was on the market for 6 weeks, but got VERY lucky when the agent found a Euro cash buyer - little London pad for one of their kids for uni I think. I think 11% off peak is fortunate - I only had two other offers from 20 or so viewings, both at £290.

I bought for £190,000 back in 2001, so I can't complain too much. Shame that all that 'profit', and more, has effectively been swallowed up by the drop in my new flat. I reckon it's 'worth' around £470k at the moment, down from £535k, based on recent sales (there's a lot of readily comparable maisonettes on the same street). I would expect it to bottom out around the ?350k mark.

Anyway - a little bit of anecdotal material for you.

Marcos

Thanks for the anecdote. Well done on managing to sell. Ignore the bitter and twisted on here, they'll just make you er, bitter and twisted. I

Share this post


Link to post
Share on other sites
Thanks for the anecdote. Well done on managing to sell. Ignore the bitter and twisted on here, they'll just make you er, bitter and twisted. I

No please ignore my rumblings - I have obviously gauged the OP incorrectly.

But I won't wish away the smell of rotten fish I had on reading it.

but of course that could be the missus snoring in the corner.... :(

Share this post


Link to post
Share on other sites
Yes I will relent. I've tried rereading his post but keep getting distracted by the squased mosquito on the wall.

Please continue....

I've tried re-reading your posts on this thread and have failed to reach any other conclusion other than you are a complete toilet trading arsewipe and an arrogant moronic git to boot!

Your name and avatar are well chosen. The only difference is that he was funny.

If the OP had come on here saying he had just bought the flat and look prices were going up, wasn't he clever, you would have called thought him an idiot. He is sharing the news of his sale about which he is relieved with the HPC forum and you deride him for finding a bigger fool.

The Euro cash buyers are probably getting 40% off peak when you take currency changes into account, and are probably very happy with the deal. If prices stagnated for a year and they sold then with the £ back up to 1.5 against the euro, for example, they would make a tidy profit of 115,625 euros on the deal as well as their kid living in London rent free for a year.

Perhaps the buyers are far more astute than you will ever be! ;)

Share this post


Link to post
Share on other sites
I've tried re-reading your posts on this thread and have failed to reach any other conclusion other than you are a complete toilet trading arsewipe and an arrogant moronic git to boot!

Your name and avatar are well chosen. The only difference is that he was funny.

If the OP had come on here saying he had just bought the flat and look prices were going up, wasn't he clever, you would have called thought him an idiot. He is sharing the news of his sale about which he is relieved with the HPC forum and you deride him for finding a bigger fool.

The Euro cash buyers are probably getting 40% off peak when you take currency changes into account, and are probably very happy with the deal. If prices stagnated for a year and they sold then with the £ back up to 1.5 against the euro, for example, they would make a tidy profit of 115,625 euros on the deal as well as their kid living in London rent free for a year.

Perhaps the buyers are far more astute than you will ever be! ;)

Guilty as charged - but I will pick up the appeal in 8 hours provided his figures don't add up and this thread hasn't conveniently passed onto page 2.

:P

Share this post


Link to post
Share on other sites

Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

Edited by HAMISH_MCTAVISH

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

ha blinknig ha :lol:

Share this post


Link to post
Share on other sites
Bought price: 190K

Sold price: 312K

Wished for price but too stupid to accept but would if offered again: 350K

Now how exactly do you make that much money with no effort or labour - without finding a greater fool?

Sorry, still can't make it past the second paragraph.

BTW ive been here since 2005

Yeah never understand this greater fool point.

Everybody is responsible for their own actions, just never become the greater fool.

Good luck to the OP.

Share this post


Link to post
Share on other sites
Guest X-QUORK

Read the thread title as "Exchanged Contracts On Sale Of My Single Malt Yesterday - Phew!".

It's Friday and I need a drink.

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

Bulls are dumb cattle, following the herd.

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

Poor McDavid.. must be agony being perched in between them on that fence all day ;)

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

Wishful thinking I'm afraid Hamish. There's been plenty of sobering news recently but being a typical bull you gleefully ignore it.

Unlike the bovine buffoons, the bears are heading out of the way of the inevitable tsunami that will follow when damn of political will finally gives way to the pressure of financial reality.

Edited by Dave Spart

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

Hahahaha - Lots of closet commies in here me thinks. If I cant do well then you cant do well. Such a sad mentallity.

Share this post


Link to post
Share on other sites
Bulls are dumb cattle, following the herd.

And bears sleep for 6 months at a time. How much news do you miss when your eyes are closed?

Share this post


Link to post
Share on other sites
Cue David Attenborough.....

"And here we see the Bears, deprived of food for days, hungry, weak and starving, turning on each other in a frenzy of cannibalistic behaviour not seen in several years."

"Meanwhile, on the other side of the valley, where the grass is noticably greener, the Bulls graze contentedly...."

:ph34r:

HAHA, your on fire at the moment Hamish.... ;)

The spring HPI rains are falling on the savannah. When they dry up there will be further trouble ahead for the bulls!

_1135850_cattle300.jpg

post-17303-1244211691_thumb.jpg

Share this post


Link to post
Share on other sites
Guest X-QUORK
If I cant do well then you cant do well. Such a sad mentallity.

You'd do well to learn how to spell, Gonzo.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   322 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.