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Bruce Banner

How Much Should I Offer?

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I want to buy a one bedroom flat for my son.

There is a nice one on the market for £500K and I have £10M in the bank. Should I offer £40K, the amount I think it's worth (it sold for £50K in 2007), or £10M, the amount I can afford, somewhere in between, or should I get a big mortgage and offer £15M?

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ensure the largest mortgage you can get is IO...this leverages the amount you can pay.

I would also get the builder to include a wireless doorbell...or better, an idoorbell.

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ensure the largest mortgage you can get is IO...this leverages the amount you can pay.

I would also get the builder to include a wireless doorbell...or better, an idoorbell.

Good idea. If I lie about my income and put down a 50% deposit, I can offer £20M, I'll phone the agent now.

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I want to buy a one bedroom flat for my son.

There is a nice one on the market for £500K and I have £10M in the bank. Should I offer £40K, the amount I think it's worth (it sold for £50K in 2007), or £10M, the amount I can afford, somewhere in between, or should I get a big mortgage and offer £15M?

Stretch yourself as far as you can as everyone knows that property values always double every seven years! You will be a millionaire!

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Good idea. If I lie about my income and put down a 50% deposit, I can offer £20M, I'll phone the agent now.

why phone when you can email for free....every penny help, and those last few extra leveraged pence...could help you in a bidding war.;)

Edited by Bloo Loo

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why phone when you can email for free....every penny helps

Phone is quicker and I'm glad I did because the agent says there has been a lot of interest in the flat this morning. They've had a few offers over £20M and advise me that with a £10M deposit their mortgage department can get me a bigger mortgage. They say I need to up my offer to £25M or risk losing the flat.

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Phone is quicker and I'm glad I did because the agent says there has been a lot of interest in the flat this morning. They've had a few offers over £20M and advise me that with a £10M deposit their mortgage department can get me a bigger mortgage. They say I need to up my offer to £25M or risk losing the flat.

tricky...nervracking too.

have you tried this mortgage broker?...E Pebble and Pardners....heard they can get you a deal of your choice within seconds.

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Phone is quicker and I'm glad I did because the agent says there has been a lot of interest in the flat this morning. They've had a few offers over £20M and advise me that with a £10M deposit their mortgage department can get me a bigger mortgage. They say I need to up my offer to £25M or risk losing the flat.

You better get in there quick as an EA told me today that it is bidding war season again as we enter the Spring house buying frenzy! If you don't close this deal soon you may lose the property.

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I hate to take this off topic but if you are interested in a house instead of a flat can I offer you this house - only 400K and the council will knock it down next year to widen the road.

http://www.propertynews.com/brochure.php?r=1&c=32204&s=121928125&i=34&p=PNC540081&fp=1&sort=added

Do you think they'd accept £800K? I need to make some money.

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tricky...nervracking too.

have you tried this mortgage broker?...E Pebble and Pardners....heard they can get you a deal of your choice within seconds.

Fantastic guy, he says he can get me an extra £10M. I'm going to be a billionaire when prices rocket next year.

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Just a small point by the way a 25 million pound flat is called an apartment

Last nights Evening Standard.

The block of flats, each with a veranda overlooking a tree-lined square, opened five years ago. A mother-of-two, who did not wish to be named, said: "It's a really nice place to live, these are apartments, not flats.

http://www.thisislondon.co.uk/standard/article-23923185-father-man-accused-of-stabbing-son-and-and-daughter-in-london-flat.do

This mother of two, interviewed over the murder of 2 kids in a London flat. Are there no depths of depravity with the British' obession with property? dry.gif

Edited by bomberbrown

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Damn, the estate agent says that they are going to sealed bids due to the level of interest. Just my luck, it's been on the market for six months and as soon as I show interest it's become a hot property.

I suppose I could buy the one next door for £35K, but the EA says I need to pay more so that I'll make more money when prices double next year.

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Key thing is to do a viewing, find out how the place smells (Coffee or baked bread the best) and check out the type of house plants they keep (twigs in vase good, rubber tree bad)

After all when you are buying a house you are buying a lifestyle not just a lace to live and you have to make sure that the person whose lifestyle you are buying had some taste

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Damn, the estate agent says that they are going to sealed bids due to the level of interest. Just my luck, it's been on the market for six months and as soon as I show interest it's become a hot property.

I suppose I could buy the one next door for £35K, but the EA says I need to pay more so that I'll make more money when prices double next year.

Suggest you give Agent Sibley a call...he knows how to outbid an asking price.

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Key thing is to do a viewing, find out how the place smells (Coffee or baked bread the best) and check out the type of house plants they keep (twigs in vase good, rubber tree bad)

After all when you are buying a house you are buying a lifestyle not just a lace to live and you have to make sure that the person whose lifestyle you are buying had some taste

They can't arrange a viewing until next week as they're much too busy and If I don't get my sealed bid biked over by 16:00 this afternoon I won't stand a chance.

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Phone is quicker and I'm glad I did because the agent says there has been a lot of interest in the flat this morning. They've had a few offers over £20M and advise me that with a £10M deposit their mortgage department can get me a bigger mortgage. They say I need to up my offer to £25M or risk losing the flat.

With a £10 million deposit you go for a 95% LTV and offer £200 million. Don't diddle daddle on this one, this flat is going today.

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I hate to take this off topic but if you are interested in a house instead of a flat can I offer you this house - only 400K and the council will knock it down next year to widen the road.

http://www.propertyn...fp=1&sort=added

:lol:

Is that what they call a short lease? I'd better hurry and buy it now while the house is still up. The agent tells me there have been 5 offers over asking this morning alone.

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With a £10 million deposit you go for a 95% LTV and offer £200 million. Don't diddle daddle on this one, this flat is going today.

Eric says the best he can get me is 50% as I'm retired. I've offered £100M, bike left a few minutes ago. The estate agent is so helpful, even though they're really busy at the moment, they managed to find me a bike courier for only £1k, bargain under the circumstances. Only an hour an a quarter to wait, I'm so excited.

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  • 311 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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