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We Haven't Had An Mse Thread For A While But...


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HOLA441
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HOLA444

What's with the vendor paying stamp duty?4

Surely this is madness - financially advantageous to just lower asking price by similar (slightly less).

Interesting thread showing the current mindset. I feel an urge to wander over to mumsnet - and it does not disappoint.

http://www.mumsnet.com/Talk/property/1367655-I-am-so-very-tempted-by-a-house-please-slap-me-very-hard-and-tell-me-its-not-worth-it

So, anyway, here is this house. We could afford to buy it, but it would cost at least as much again to renovate and it would be trickier to raise the money for that as the Irish banks are simply not lending at the moment. We would have to live in the house we are currently in while the new house is being renovated and if we were to put this one on the market now it would probably have lost about 10-15% since we bought it last year. Anyway I'm very reluctant to move into rented while we're renovating and then move again.

So, she wants to spend nearly 600K Euros on a property that she thinks will cost at least as much again to renovate!!?

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http://forums.moneysavingexpert.com/showthread.php?t=3713869

Almost every reply is on 'our side' of the fence, and I find that to be very healthy.

Giving that HPC is still (IMHO) a 'niche' site and MSE is mainstream, it's good to see such opinions being expressed there.

Thanks. Interesting anecdote. Quite a fall from first asking price. And the two 'profs' had to borrow for the deposit. If they have such good jobs I'm surprised they wouldn't have saved for a deposit. I wonder do the lenders know the deposit is borrowed.

Yes the comments seem very hpc! :)

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I do like SecondLegDownIsTheBigOne's signature.

1. The house price crash will begin.

2. There will be a dead cat bounce.

3. The second leg down will commence.

4. I will buy your house for a song.

The "colours" chosen imply that we are at step 3. I tend to agree.

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What's with the vendor paying stamp duty?4

Surely this is madness - financially advantageous to just lower asking price by similar (slightly less).

You cannot get a mortgage on the basis of "they lowered the asking price, but it's really worth 10k more". It's a bit like a "gifted" deposit.

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And the utter self-absorption which makes her think that the buyer's dreams of overpaying have been wrecked by this nasty valuer.

the whole thing made me laugh

the buyers have totally had one over on her....i bet they cannot believe how dumb she is

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And the utter self-absorption which makes her think that the buyer's dreams of overpaying have been wrecked by this nasty valuer.

....and the valuer works for the bank.....they are in enough trouble already, responsible lending and all that, some good lending is better than none...it is not in their best interest to overprice property they may never get it back. :P

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