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SarahBell

Wacthdog

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OK basically people cheesed off cos they're paying a fee for a very low valuation.

Geezer in S wales offered 85k on proeprty valued locall at 160 (Or was it 135?)

then when they were going to buy they offered 65k.

Fees not refundable.

Begs question if they've ever bought a house off anyone or make all their money from valuations for 500-1000 quid.

And if it isn't illegal then why aren't we all doing it?

We could franchise it out :)

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yes just got in and popped beeb 1 on.

This is dynamite!!!!!...not just a crappy valuation for a market fee,but a BMV price given too,is this where property guru of SP is coming from.....if he's just a punter then he's getting just as shafted as the vendor!

please get a link up here ASAP for this programme.I know some of you are at the meet tonight but it's well worth a watch.

apologies myself for not making it,but if there's a pre-xmas bash coming then let me know as I am taking time of as of 15/12,and will be coming!

Edited by oracle

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It's pretty bloody obvious that they would offer BMV to buy places. But the stupidity of people to pay someone to make them an offer. The mind boggles...... :blink:

When will people learn to defend themselves financially?

Desperate people will try anything and being desperate won't be thinking straight or able to think straight.

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Of course if houses could be standardised and categorised and traded on an exchange, priced by type, and just one of these BMV deals went thru, the price of that entire class of housing would plummet.

However even though one house might look just like the next door house, there are always minor differences, so even when your next door neighbour sells BMV and a chartered surveyor tells you your house value, based on the most recent transaction is 30% less than you imagined, you begin making excuses ("twice as many sockets in the living room!") as to why this must be incorrect. ....

...and when a footballer buys the next door house for twice its asking price just to guarantee his grandma isn't gazumpped, we all say, "well, mine must be worth at least that cos mine has a power shower!"

:lol:

Give me a break!

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If you point them towards Singing Pig, they could find a pretty ghastly crew of BMV hyenas all gloating over which marketing strategy finds them the most vulnerable homeowners to exploit. It's not pretty over there.

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It's pretty bloody obvious that they would offer BMV to buy places. But the stupidity of people to pay someone to make them an offer. The mind boggles...... :blink:

When will people learn to defend themselves financially?

Quite correct. A proportion of the public are as dim as a dud 40w lightbulb. Anyone with more than 1 brain cell would see right through their cheezy TV ad.

When people hear the smirking bloke in their advert say "We GUARANTEE to make you an OFFER on your property". They instinctively think they've heard "We GUARANTEE to BUY your property at a FAIR AND REASONABLE PRICE."

What a wheeze - get mug householders to cough-up an upfront non-returnable fee of upwards of £1,000 for a £70 drive-by valuation, so that they can then offer 70% reducing to 50% of a property's fair value - PRICELESS !!!

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Yes - and valued the wrong houses including one they couldn't have seen on a gated complex.

I stil think if they've NEVER bought a property it is very telling and maybe they have no intention of...

After all they dropped the offer on the blokes they were going to buy to below what was owed on the mortgage.

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What a wheeze - get mug householders to cough-up an upfront non-returnable fee of upwards of £1,000 for a £70 drive-by valuation, so that they can then offer 70% reducing to 50% of a property's fair value - PRICELESS !!!

To introduce a bit of balance I put out some leaflets to buy houses and found 99.9% of sellers were time - vampires and rejected my low offers, so in order to avoid this time - wasting (my time is no less valuable than thiers) if I did this again I would require an up - front fee to filter - out the time - wasters.

You see the problem with greedy vendors is they fail to understand that investors have to buy at about 30% less than BMV to give the investor enough breathing space to make a profit in an uncertain market and to cover hidden costs such as loss of interest on cash and perhaps interest & fees & penalties charged on remortgages on other property to finance the new purchase.

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To introduce a bit of balance I put out some leaflets to buy houses and found 99.9% of sellers were time - vampires and rejected my low offers, so in order to avoid this time - wasting (my time is no less valuable than thiers) if I did this again I would require an up - front fee to filter - out the time - wasters.

You see the problem with greedy vendors is they fail to understand that investors have to buy at about 30% less than BMV to give the investor enough breathing space to make a profit in an uncertain market and to cover hidden costs such as loss of interest on cash and perhaps interest & fees & penalties charged on remortgages on other property to finance the new purchase.

I agree. I think the vendors have forgotten how much THEY paid all those years ago for the property. They're basing their perceived value on what the peak price was for their street.

Unless they only bought in the last couple of years, or mewed to the hilt, they would still walk away with a profit at the end of the day.

Plain greed imo.

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Was not what was meant by BMV, so went searching and found this really interesting artical.

http://firstrung.co.uk/articles.asp?pageid...&articlekey=834

I particularly liked this bit.

Similar to the previous competitiveness of the BTL (buy to let) market place, if failing BTL investors shift their attention to this BMV micro-market, they could indirectly artificially inflate prices on their target properties by outbidding each other.

So while the rest of us are shopping around for a bargin the BTL'ers could find themsilves chasing each other up in price.

Watch out for the crowds around the distressed sellers you could end up paying more than is really necessary.

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  • 301 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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