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Confusing Post By A Money Grabbing Ea

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http://www.mouseprice.com/property-for-sale/ref-354790/132986923/GARDEN-LODGE-CLOSE-DERBY-2-bed-Flat-DE23

"Hannells Estate Agents are now in receipt of an offer for the sum of £100,000 for 3 Garden Lodge Close, Derby, DE23 6DD. Anyone wishing to place an offer on this property should contact Hannells Estate Agents, 272 Blagreaves Lane, Littleover, DE23 1PS - 01332 773399 before exchange of contracts."

Is this kind of post slightly confused me, especially since the property has been up for 2 years.

I am new to the property hunting game so, is this common practice by EA's?

By the way this paticular EA, likes to overprice property by at least 60-70% and let the property sit there for years............

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It is a repossession, so the EA will have to do this.

With a normal house sale, this wouldn't happen.

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I see this sort of thing a lot in my area on Rightmove "We are acting on behalf of the Mortgagee and have received and offer for blah...please contact us if you want to make a higher offer"

In fact Dixons appear to be notorious for this sort of thing on Rightmove.

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It is a repossession, so the EA will have to do this.

With a normal house sale, this wouldn't happen.

Exactly, it's a legal requirement for the EA to issue a public notice (two-weeks I think) in order to satisfy the corporate client that they have achieved the highest possible amount for the repo.

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Jeez,

Original selling price in 2007 - 225K.

For a two bed flat in derby! You could have bought a 4 bed detached for that!

tim

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  • 260 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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