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Bob Loblaw

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Put a stupid offer in just before Xmas on a 5 bed | 4 Bathroom new build. Asking price was £219,000 reduced (eventually) to £182,500. Offered £165,000 which was accepted. Was outbid a day later(!) at £170,000. Property has now been bid up to £180,000 which is practically the asking price. Who in their right mind buys a property today at asking price (or maybe Kirsty and Phil were doing the price negotiation?)

Very odd market.

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Put a stupid offer in just before Xmas on a 5 bed | 4 Bathroom new build. Asking price was £219,000 reduced (eventually) to £182,500. Offered £165,000 which was accepted. Was outbid a day later(!) at £170,000. Property has now been bid up to £180,000 which is practically the asking price. Who in their right mind buys a property today at asking price (or maybe Kirsty and Phil were doing the price negotiation?)

Very odd market.

Maybe the asking price is about right. 180k for a 5 bedder sounds cheap - depends where it is though.

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Maybe the asking price is about right. 180k for a 5 bedder sounds cheap - depends where it is though.

Are you sure the EA isn't feeding you a line?

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Happened to me last August, had an offer accepted then another couple appeared who were apparently willing to pay full asking price, I pulled out and the property is still on the market...

Edited by mrhappy

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Happened to me last August, had an offer accepted then another couple appeared who were apparently willing to pay full asking price, I pulled out and the property is still on the market...

They might have been willing, but looks like their bank/building society wasn't.

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Put a stupid offer in just before Xmas on a 5 bed | 4 Bathroom new build. Asking price was £219,000 reduced (eventually) to £182,500. Offered £165,000 which was accepted. Was outbid a day later(!) at £170,000. Property has now been bid up to £180,000 which is practically the asking price. Who in their right mind buys a property today at asking price (or maybe Kirsty and Phil were doing the price negotiation?)

Very odd market.

I bet it comes back on the market because the buyer couldn't complete. Where is it?

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I bet it comes back on the market because the buyer couldn't complete. Where is it?

It is in a village just outside Darlington in County Durham.

I don't think it will complete. I imagine the people who outbid me must be cheesed off as they have either had to bid another £10k to get it or have been outbid near to exchange (it is a repossession and so they had to complete within 28 days). Hardly a bargain if having to pay asking price, my bid of £165,000 was at the top end of what I thought it was worth for the area.

I am just amazed that some people are so daft as to offer practically full asking in the current climate.

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Without having a look on nethouseprices to see where the £180K takes you back, unless the buyers are cash then it will most likely reappear. Have seen a few lately come back to the market.

Have a look at this muppet then.

2 repo's flats, newish build so both don't need new kitchen,bathroom etc.

Hard to tell from the descrpition but the cheaper one even has an ensuite shower room.

Someone has decided to pay about 12% more than the other :lol:

http://www.rightmove.co.uk/property-for-sale/property-27892765.html

Doesn't show up when you look at the property itself but right are showing it SSTC at £73,500

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE^59&insId=1&maxPrice=90000&index=30

http://www.rightmove.co.uk/property-for-sale/property-32039453.html

Edited by neil324

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Happened to me years ago, problem was, the couple who overpaid, originally came from the village, had sold a business elsewhereand wanted to spend their last years where they grew up.

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This is the problem we all face.... as soon as prices come down I believe there will be a lot of people with some money stashed away and who will STILL mortgage themselves up to the eyeballs - you'll have to be prepared to do the same to get the place you love, maybe?

One of my friends last night said his house was down £10K last year but is now magically back to £2k over asking price!? Rubbish, I thought. He then went on to say about how you'll always make money in the long-term buying a place. This mentality will NEVER die while planning is still so restricted and banks give immoral loans. EDIT: No, it just wont die, ever.

Edited by guitarman001

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This is the problem we all face.... as soon as prices come down I believe there will be a lot of people with some money stashed away and who will STILL mortgage themselves up to the eyeballs - you'll have to be prepared to do the same to get the place you love, maybe?

Hopefully one of the benefits of a drawn out crash rather than a short sharp one will be to change this sentiment. When prices started dropping a couple of years ago, people expected this to last for a brief period before the ever upward trajectory would continue. When prices picked up at the end of '09, many many folk out there thought that was the crash (!) and were looking to pick up what they perceived to be bargains and jump straight back in again. Now we're three plus years in and the peaks of '07 show no signs of coming back soon, sentiment toward property as the road to riches is finally starting to shift.

A decade of Krusty and co is going to take a lot of unwinding. But it is happening.

Edited by rantnrave

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Hopefully one of the benefits of a drawn out crash rather than a short sharp one will be to change this sentiment. When prices started dropping a couple of years ago, people expected this to last for a brief period before the ever upward trajectory would continue. When prices picked up at the end of '09, many many folk out there though that was the crash (!) and were looking to pick up what they perceived to be bargains and jump straight back in again. Now we're three plus years in and the peaks of '07 show no signs of coming back soon, sentiment toward property as the road to riches is finally starting to shift.

A decade of Krusty and co is going to take a lot of unwinding. But it is happening.

There seems to be a lot more "This is really going down" sentiment this time too, and even some questioning the god of HPI in the mainstream.

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Who in their right mind buys a property today at asking price

The person who wanted the house more than you? If that person hadn't bid more they wouldn't have got that house. We can sit around and pretend houses are worth 50% of their value all we want but it don't mean nothing if no one else thinks this!

I remember when selling my place, someone told me that my house wasn't worth the asking price. So I said fine, you go buy one of the other houses in the area which were indeed on for less. And the chap said we don't want to we like your one. Well call me selfish but I'm gonna go with the lady who is prepared to pay the asking price...

Supply and demand innit.

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  • 285 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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