Mr. Miyagi Posted July 20, 2011 Share Posted July 20, 2011 A house recently came on the market so Mrs. Miyagi and I went for a viewing. House was okay, but needed some modernisation, bathroom, boiler, kitchen etc and some minor repair work. It was priced around £30k too much for my liking. EA rang back following the said viewing and asked for some feedback, so I duly obliged. I informed the EA about the issues highlighted above and because of those issues I thought the house overpriced (the EA agreed with all my points), to which she replied that the vender had set the price and that she was of the understanding that the price was set to cover the outstanding balance on the mortgage. The problem is that the house was purchased in 1995, which can only lead me to one conclusion........... I informed the EA that I would like a second viewing only if the vender would consider reducing the price accordingly as to not waste everyone's time. I'll report back if the EA contacts me for a second viewing. Dare I say it, I was impressed with the EA a first for me. Quote Link to comment Share on other sites More sharing options...
libspero Posted July 20, 2011 Share Posted July 20, 2011 A house recently came on the market so Mrs. Miyagi and I went for a viewing. House was okay, but needed some modernisation, bathroom, boiler, kitchen etc and some minor repair work. It was priced around £30k too much for my liking. EA rang back following the said viewing and asked for some feedback, so I duly obliged. I informed the EA about the issues highlighted above and because of those issues I thought the house overpriced (the EA agreed with all my points), to which she replied that the vender had set the price and that she was of the understanding that the price was set to cover the outstanding balance on the mortgage. The problem is that the house was purchased in 1995, which can only lead me to one conclusion........... I informed the EA that I would like a second viewing only if the vender would consider reducing the price accordingly as to not waste everyone's time. I'll report back if the EA contacts me for a second viewing. Dare I say it, I was impressed with the EA a first for me. Hate to say it, but if they really are the type to MEW every last penny out of it, they are probably are exactly the type of deluded seller who expects someone to pay what they think it's worth and not a penny less. I had that in April with a house I was looking at (retiring teacher coincidently). Vendor wouldn't budge an inch from asking (actually said they were thinking of putting the price up). I walked away. House still not sold. Price since been dropped by £10k. Still £20k over valued IMHO. Quote Link to comment Share on other sites More sharing options...
plummet expert Posted July 20, 2011 Share Posted July 20, 2011 Hate to say it, but if they really are the type to MEW every last penny out of it, they are probably are exactly the type of deluded seller who expects someone to pay what they think it's worth and not a penny less. I had that in April with a house I was looking at (retiring teacher coincidently). Vendor wouldn't budge an inch from asking (actually said they were thinking of putting the price up). I walked away. House still not sold. Price since been dropped by £10k. Still £20k over valued IMHO. Homes in the uk are generally 50% overvalued IMHO. Look across the pond and you can find 5 bed homes with a swimming pool for under £100k. Don't all crow that they're more here because of lack of space either. They have fallen by 90% in some parts of Japan when it's th most overpopulated place on the planet. It's policies and not space which dictate home and land prices. Bubbles need to be popped in the UK lots of Europe and Australia and even china. Quote Link to comment Share on other sites More sharing options...
libspero Posted July 20, 2011 Share Posted July 20, 2011 Homes in the uk are generally 50% overvalued IMHO. Look across the pond and you can find 5 bed homes with a swimming pool for under £100k. Don't all crow that they're more here because of lack of space either. They have fallen by 90% in some parts of Japan when it's th most overpopulated place on the planet. It's policies and not space which dictate home and land prices. Bubbles need to be popped in the UK lots of Europe and Australia and even china. I don't disagree.. but if a house came up that I could genuinely afford and would be happy to live in I'd probably take the hit. Fortunately nothing has come close yet. Quote Link to comment Share on other sites More sharing options...
Mr. Miyagi Posted July 20, 2011 Author Share Posted July 20, 2011 I don't disagree.. but if a house came up that I could genuinely afford and would be happy to live in I'd probably take the hit. Fortunately nothing has come close yet. I agree Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted July 21, 2011 Share Posted July 21, 2011 Look across the pond and you can find 5 bed homes with a swimming pool for under £100k. Are these homes a reasonable commute away from any jobs that make 100k look cheap? Quote Link to comment Share on other sites More sharing options...
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