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Just a quick anecdotal I thought I'd share.

T'other half came back from work yesterday and told me a woman in her office is looking to buy a place. Before I could get into full flow about her stupidity, it was explained that the place is up for 109K, to which my GF immediately looked it up on nethouseprice (good to see she is learning....and spreading the word!) to find it had last sold, in 2007, for £125K! So the owners are already accepting a 13% hair cut.

Further details then came out that the woman looking to buy can't even afford £109K anyway and thinks she will probably be able to obtain a mortgage for 100K and is 'hoping for the best'. 20% deposite is coming from her her Mum.

She also said she really doesn't have a clue about all this stuff either (and seems to hav made no attempt to educate herself before hand!! Yet another one making (trying to make) the biggest purchase of their life, yet has done less research than they would before buying an Ikea cupboard!!!

Still, someone willing to accept 13% off the peak price they paid certainly isn't bad news!

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