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Shared Ownership Bidding Frenzy

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Just thought I'd rescue this gem from the NI thread - thanks to Sure Thing:

Posted 13 February 2014 - 05:45 PM

'yadayada', on 12 Feb 2014 - 6:21 PM, said:snapback.png

....pay far too much for houses they can't afford.

When we were selling ours last year we had four people making offers, all co-ownership and they ended up well over asking price bidding against each other on something they couldn't afford. Says it all really.

And should add that the people that bought it ended up spending 18k over their initial offer actually starting off not needing co-ownership, they then had to go co-ownership to keep up with the rest of the bidders, minus co-ownership they would be in a lot less debt.

100 yay smile.gif

Edited by Sure thing!, 13 February 2014 - 05:47 PM.


Edited by okaycuckoo
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  • 418 Brexit, House prices and Summer 2020

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