Guest Report post Posted March 11, 2011 Mods feel free to move this to anecdotals... I have a colleague, 40 sommat woman with one teenage daughter. She is well into her property development, in as much as she likes all the property programmes, and told me she has given her house the "wow" factor. She even went on some Changing Rooms type programme, whereby she paid to decorate her home, and was filmed doing it..... bizarre. Anyhew.... She told me yesterday she has sold her 3 bed semi for £175k, but yet to exhange contracts. She has to move out at the end of March. She has also signed a contract to buy a new flat, not yet built, which will be available in the summer. The flat costs almost as much as her house, so she is not even shrinking her mortgage. There are so many flaws in her plan.... buyer drops out, flat builder goes under... She admitted to me (at last!) that house prices are about to crash..... so why risk everything for a downsize that doesn't free up capital? Quote Share this post Link to post Share on other sites
Monkey Report post Posted March 11, 2011 She admitted to me (at last!) that house prices are about to crash..... so why risk everything for a downsize that doesn't free up capital? beacuse it wont happen to her property, either the house she is selling or the flat she is buying, in her mind they wil lbe the cheapest they can be, no room for drops there Quote Share this post Link to post Share on other sites
nickincash Report post Posted March 11, 2011 So what is she going to do if she doesn't sell her house? Quote Share this post Link to post Share on other sites
Executive Sadman Report post Posted March 11, 2011 You cant save them all. Some people are their own worst enemies. One of the most intelligent guys i knew a couple of years ago, late 2007 actually, was taken in by the marketing spiel on one of those new build execu-box flats. Luckily for him, he rented first and after a few nights was awakened to the almost constant shouting, vomiting and urinating of the youths who passed by the block after a night out due to its near inner city location. Not to mention the constant beeping of taxi drivers, pizza delivery cars and so forth. I hope for her sake the flat isnt anywhere near a busy town centre. Quote Share this post Link to post Share on other sites
tomandlu Report post Posted March 11, 2011 Why is she moving? Quote Share this post Link to post Share on other sites
scrappycocco Report post Posted March 11, 2011 At what point did she take the lsd? Damn government, I wish they would ban sugar and alcohol and give us back mushrooms and the green stuff. Quote Share this post Link to post Share on other sites
Guest Report post Posted March 11, 2011 So what is she going to do if she doesn't sell her house? I asked her that question.... her answer..... "cry". Quote Share this post Link to post Share on other sites
Guest Report post Posted March 11, 2011 I hope for her sake the flat isnt anywhere near a busy town centre. Goring seafront (west of Worthing).... nice place actually... Quote Share this post Link to post Share on other sites
Guest Report post Posted March 11, 2011 Why is she moving? Because "a flat will be cheaper to run than a house"..... I wonder why she doesn't buy a flat that costs less than her house... then she'll have cheaper bills and a cheaper mortgage. Quote Share this post Link to post Share on other sites
Nationalist Report post Posted March 11, 2011 Why don't you suggest she just keep the house and as soon as the flat is built flip it for a fat profit. If she doesn't think that's feasible get her to take more LSD and before long she'll think you're so clever. Quote Share this post Link to post Share on other sites
juvenal Report post Posted March 11, 2011 Goring seafront (west of Worthing).... nice place actually... Crack City.... Quote Share this post Link to post Share on other sites
wherebee Report post Posted March 11, 2011 Crack City.... LOL. that really did make me laugh out loud...........i don't know what sort of drugs you are on to think sleepy sussex is a crack haven. a few crusties maybe.... Quote Share this post Link to post Share on other sites
Guest Report post Posted March 12, 2011 Crack City.... Mostly old ladies.... so the crack supply has literally dried up Quote Share this post Link to post Share on other sites
Guest Report post Posted March 12, 2011 Why don't you suggest she just keep the house and as soon as the flat is built flip it for a fat profit. Very tempting.... I do feel sorry for her in a strange way.... but when she says things like "my house only fetched £175k because sellers are after a bargain at the moment"... sympathy turns to anger. Quote Share this post Link to post Share on other sites
TeddyBear Report post Posted March 12, 2011 For some reason she prefers flats to house? Less to maintain? Feels safer on an upper floor? Service charge won't make it less to run though I'd expect. Quote Share this post Link to post Share on other sites
Guest Report post Posted March 23, 2011 An update on my drug addled colleague.... It is a week until the new owners are supposed to move into her existing house..... she has not exchanged contracts yet... She is not sure whether she has signed a contract for the new flat... How can anyone give so little thought, and have so much uncertainty around something as important/costly as buying a house??/!??! Quote Share this post Link to post Share on other sites
Guest Report post Posted March 23, 2011 (edited) ******new update***** We asked if she had spoken to her solicitor, to, um, CHASE up the exhange of contracts.... She does not know her solicitor's number... We said google it..... She does not know their name either.... Edited March 23, 2011 by Guest Quote Share this post Link to post Share on other sites
Guest Report post Posted March 24, 2011 Does she know if she "owns" her property? God only knows... she certainly doesn't own her marbles!!! She is already packing to move out.... we said maybe she should check with her solicitor first.... she might not need to!!! Quote Share this post Link to post Share on other sites
wherebee Report post Posted April 2, 2011 Update DEMANDED! Quote Share this post Link to post Share on other sites
newbonic Report post Posted April 2, 2011 So what is she going to do if she doesn't sell her house? I know a couple who had exactly that happen - moved from Sheffield to Brighton - thought they'd sold their Sheff house so bought one in Brighton and moved in. Sheff sale falls through (buyer couldn't get a mortgage at the price they'd agreed). They are now forced landlords of the Sheff place (difficult when it's 200 miles away!) and have a much bigger mortgage on their Brighton gaff than they planned on. Back in 2007 their Sheff house would have sold within a week. They had all their ducks lined up, but counted their chickens before they were hatched (and now their goose is slowly cooking). Quote Share this post Link to post Share on other sites
