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Who Says There's No Crash?

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I've been viewing the market with some renewed enthusiasm.

Take this listing for instance

http://www.zoopla.co.uk/for-sale/details/4375274?search_identifier=9117d208a17c34082440adef1fda9db9

Bought for £325,000 in Aug 2004. Just accepted an offer for £325,000. But the lovely agents are basically putting an ad out encouraging a public gazumping...Still overpriced but that's six years of gains wiped off - in greater London (supposedly a 'separate market' to the rest of the UK.

I've seen a lot of stuff on here saying that people won't sell unless they can get the price they want. Personally I don't buy it. People's requirements change, people pass away - there are 101 reasons. Looking at lots of 1 bed flat listings you can often see cots squeezed into bedrooms and living rooms, people sometimes have no choice but to move on.

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http://www.rightmove.co.uk/property-for-sale/property-27097042.html

Offer to gazump.
PUBLIC NOTICE: Carruthers & Luck are now in receipt of an offer for the sum of £187,500 for 59a Malines Avenue, Peacehaven, BN10 7RR. Anyone wishing to place an offer on the property should contact Carruthers & Luck Estate Agents, Peacehaven BN10 8LD. 01273 585001 before exchange of contracts.

Disgusting filth.

Edited by Realistbear

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I thought they were obliged to state the offer received in the case of a bank repo?

Ah--that may be it. A trustee sale.

For a minute there I thought EAs were acting unprofessionally.

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Ah--that may be it. A trustee sale.

For a minute there I thought EAs were acting unprofessionally.

From what I can gather from seeing a mates house which was repossessed, the first alleged offer is from the bank that's repossessed it as the price was equivalent to what my mate owed on it and it was advertised that way from the first day it was listed but after three to four months on the market they were suddenly in receipt of another offer of 15% less which it was eventually sold for

And since then I have seen most off the repossessed, {were in receipt of and offer off £x } go down the same road off being sold 3-4 months later for 10-20% less .But some have come to the market at a good price and have sold quickly I can only assume there was less owing on them as they were marketed for far less than other houses in the same area. Another thing I have noticed is that a lot of the repossessed are being marketed by more than one EA at the same time

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From what I can gather from seeing a mates house which was repossessed, the first alleged offer is from the bank that's repossessed it as the price was equivalent to what my mate owed on it and it was advertised that way from the first day it was listed but after three to four months on the market they were suddenly in receipt of another offer of 15% less which it was eventually sold for

And since then I have seen most off the repossessed, {were in receipt of and offer off £x } go down the same road off being sold 3-4 months later for 10-20% less .But some have come to the market at a good price and have sold quickly I can only assume there was less owing on them as they were marketed for far less than other houses in the same area. Another thing I have noticed is that a lot of the repossessed are being marketed by more than one EA at the same time

Are you in the US?

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From what I can gather from seeing a mates house which was repossessed, the first alleged offer is from the bank that's repossessed it as the price was equivalent to what my mate owed on it and it was advertised that way from the first day it was listed but after three to four months on the market they were suddenly in receipt of another offer of 15% less which it was eventually sold for

And since then I have seen most off the repossessed, {were in receipt of and offer off £x } go down the same road off being sold 3-4 months later for 10-20% less .But some have come to the market at a good price and have sold quickly I can only assume there was less owing on them as they were marketed for far less than other houses in the same area. Another thing I have noticed is that a lot of the repossessed are being marketed by more than one EA at the same time

Are you in the U>S

No s/e wales And the above is related to the bottom and lower middle of the market 2- 3 bed terrace and 3 bed semi`s mostly ex council my mates was a three bed semi ex council and there was another house repossessed on the same road which was sold for 10% less than my mates at the end off august ,it had a offer on it the day it was advertised and sold and occupied with in a month and it was sold by the same EA as my mates ,that's what makes me think the first alleged offer is the amount the bank needs to cover the loan

Edited by long time lurking

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From what I can gather from seeing a mates house which was repossessed, the first alleged offer is from the bank that's repossessed it as the price was equivalent to what my mate owed on it and it was advertised that way from the first day it was listed but after three to four months on the market they were suddenly in receipt of another offer of 15% less which it was eventually sold for

And since then I have seen most off the repossessed, {were in receipt of and offer off £x } go down the same road off being sold 3-4 months later for 10-20% less .But some have come to the market at a good price and have sold quickly I can only assume there was less owing on them as they were marketed for far less than other houses in the same area. Another thing I have noticed is that a lot of the repossessed are being marketed by more than one EA at the same time

So the bank's original offer was there for 4 months then replaced on the site by the reduced offer?

I didn't realise you could bid below the price reportedly offered. I just assumed it was from a real person.

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I didn't realise you could bid below the price reportedly offered. I just assumed it was from a real person.

I guess that's exactly why they use this strategy.

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So the bank's original offer was there for 4 months then replaced on the site by the reduced offer?

I didn't realise you could bid below the price reportedly offered. I just assumed it was from a real person.

Neither did I but the fact the original price on my mates house was within a grand of what he owed on it can't just be coincidence ,and fro what I have been told the banks must market the property for a certain amount of time at a price that will cover the loan .

BTW this is the bottom end of the market the middle to top end is still in la la land

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  • 312 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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