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Hi I live in London and have seen a flat with an asking price of 180,000 it certainly isn't worth that and even the estate agent said it isn't.

Surely that breaks the code of conduct of false advertising, however my problem is I have gone up in increments upto 167,000 and has still been refused as the seller wants 170,000.

Do you think I should just wait until the seller gives in I only value it to 167,000 and don't want to end up paying over the odds for it.

I know they bought it in the boom for quite a bit more but with the 170,000 I think they will just about break even, shall I just wait for them to realise that they won't get a much better price than what i've offered

Thanks for any help, as I was quite firm with the estate agent that I won't pay anymore and that price will also include all fixture and fittings

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Hi I live in London and have seen a flat with an asking price of 180,000 it certainly isn't worth that and even the estate agent said it isn't.

Surely that breaks the code of conduct of false advertising, however my problem is I have gone up in increments upto 167,000 and has still been refused as the seller wants 170,000.

Do you think I should just wait until the seller gives in I only value it to 167,000 and don't want to end up paying over the odds for it.

I know they bought it in the boom for quite a bit more but with the 170,000 I think they will just about break even, shall I just wait for them to realise that they won't get a much better price than what i've offered

Thanks for any help, as I was quite firm with the estate agent that I won't pay anymore and that price will also include all fixture and fittings

How can it break the code of false advertising?

The only thing that is illegal in this respect is advertising something at a price which you are not willing to sell.

Asking more than it is worth, is perfectly legal and happens all the time (try inviting a few double glazing sellers around to your house to find out)

tim

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I know they bought it in the boom for quite a bit more but with the 170,000 I think they will just about break even, shall I just wait for them to realise that they won't get a much better price than what i've offered

That doesn't make any sense. For quite a bit more than what ? So if they bought for quite a bit more why will they break even if they now sell for 170,000 ?

How long has it been on the market ?

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I agree - the comment doesn't make sense. But it should not be your concern to ensure the seller breaks even or makes a nice profit, since that profit just comes out of your pocket. Why not find out what they paid for it using Land Registry.

And if it's not worth it (to you) then don't buy it unless you have a very good reason to overpay. 3000 Seems a small amount to quibble over though (and I mean that from both the buyer and seller perspective).

Why not say the 167,000 offer is open for two weeks and it's the last offer you intend to make. (You can always change your mind later, but this focusses the mind of the seller - if they are really motivated to sell). Just be prepared to lose out to someone else.

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Hi I live in London and have seen a flat with an asking price of 180,000 it certainly isn't worth that and even the estate agent said it isn't.

Surely that breaks the code of conduct of false advertising, however my problem is I have gone up in increments upto 167,000 and has still been refused as the seller wants 170,000.

Do you think I should just wait until the seller gives in I only value it to 167,000 and don't want to end up paying over the odds for it.

I know they bought it in the boom for quite a bit more but with the 170,000 I think they will just about break even, shall I just wait for them to realise that they won't get a much better price than what i've offered

Thanks for any help, as I was quite firm with the estate agent that I won't pay anymore and that price will also include all fixture and fittings

Yes it is your "problem" - by going "up in increments" you have shown the EA and seller you have more money. They are probably thinking they can sit tight and wait for you to crumple and stump up the final extra £3k.

What the sellers paid for it, how much they will win or lose is not your worry. As a buyer you are only responsible to, and need to look out for, you and yours. If you are really worried about the seller(s), think about how much of a favour you would be doing them by bailing them out now before they see their property value fall off a cliff. You have checked what the sellers actually paid for it I take it? Now take a seat and a deep breath - a little secret, house prices don't always go up.

Fixtures and fittings - I doubt they will be worth much and you would probably change the curtains etc very soon after moving in anyway.

You say you are a bull. In what way? If you think house prices are going up (generally what bulls think), then why are you concerned about "paying over the odds for it"?

What's the rush to buy?

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That doesn't make any sense. For quite a bit more than what ? So if they bought for quite a bit more why will they break even if they now sell for 170,000 ?

How long has it been on the market ?

I wasn't very clear I think they just want to pay the mortgage and 170,000 is what is left on the mortgage which seems about right, as they paid 187,500 for it in late 2008.

So after 2 years of payments I suppose they will still have 170,000 to pay back to the bank, so they won't make any money or a loss.

I believe the sale is because the owner had passed on.

It has been on the market for 6 weeks so not that long compared to a lot of other places.

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I wasn't very clear I think they just want to pay the mortgage and 170,000 is what is left on the mortgage which seems about right, as they paid 187,500 for it in late 2008.

So after 2 years of payments I suppose they will still have 170,000 to pay back to the bank, so they won't make any money or a loss.

I believe the sale is because the owner had passed on.

It has been on the market for 6 weeks so not that long compared to a lot of other places.

I guess we have different opinions on what constitutes "making a loss".

Thanks for providing the further info.

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Hi I live in London and have seen a flat with an asking price of 180,000 it certainly isn't worth that and even the estate agent said it isn't.

Surely that breaks the code of conduct of false advertising, however my problem is I have gone up in increments upto 167,000 and has still been refused as the seller wants 170,000.

Do you think I should just wait until the seller gives in I only value it to 167,000 and don't want to end up paying over the odds for it.

I know they bought it in the boom for quite a bit more but with the 170,000 I think they will just about break even, shall I just wait for them to realise that they won't get a much better price than what i've offered

Thanks for any help, as I was quite firm with the estate agent that I won't pay anymore and that price will also include all fixture and fittings

I should just tell the EA you have taken advice and think its only worth £140k and that's your final offer, open for 7 days. Even better do not buy it atall because we are at a critical phase of changes in the world economy and the problems which keep turning up have often been hidden away, but known by those close to it. You didn't know about Greece, Portugal or how bad it was for Sapnish banks until it unfolded in the last 6 months. The downgrading by the rating agencies is very restrained in fact. The US money supply is shrinking at a rate not seen since 1931 and they now k now their stimulus has failed. Do we really think it will all just go away by a bit of printing? The worlds financial markets could destabilise ata any time in the nearterm. It would be a miracle if we just 'recover' without a severe correction. Govts and investment houses cannot say this, but I can.

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  • 261 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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