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CrashIsUnderWay

Real Selling Price Dropped Over 10% To Get A Sale

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big bro just popped onto messenger. he's finally sold his house in bucks (put it on at 565 early last year).

This is the 4th time he's sold it (it never got to completion b4) but this time it looks likely.

He should exchange on 30th Jan

Price?

490

ouch

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big bro just popped onto messenger. he's finally sold his house in bucks (put it on at 565 early last year).

This is the 4th time he's sold it (it never got to completion b4) but this time it looks likely.

He should exchange on 30th Jan

Price?

490

ouch

A house is worth what someone is prepared to pay - he hasn't lost a penny!

The asking price was speculative.

TB

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of course i do. rather not let it loose though. He might not be pleased.

As for teddy boy, whatever. Comparable houses were selling back then for rather more that much (Amersham area) he says, and that's why they priced it low at 565 - they wanted a quick sale. Didn't get it, and has been renting in the new loc ever since. Couldnt afford to pass on this offer. Simple as that.

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Perhaps a little naive to expect a house squarely in the middle of the 500k-600k stamp duty zone not to slide esp when you factor in the average 7% asking price/sale reduction. If you price a house at 550k ish (or 280kish) and the market is flat or down you need to expect the stamp duty thresholds to have an adverse effect on the final sale price IMO. Might have been better to stick at 600k and get access to a different market of buyer (as the estate agents would say!).

Having said all this, we predicted this effect way back on HPC! It will accelerate the pace of the downturn (and thus in reported figures) where property is priced near the stamp duty zones. It will be happening all over.

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whatever, he's happy!

totally liquid by 30th jan, and able to mooch around cheshire putting in daft offers on farmhouses with paddocks.

No doubt one will get accepted at some point. Until then, he's renting a big old place for a fraction of what it would cost to buy.

Edited by CrashIsUnderWay

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whatever, he's happy!

totally liquid by 30th jan, and able to mooch around cheshire putting in daft offers on farmhouses with paddocks.

No doubt one will get accepted at some point. Until then, he's renting a big old place for a fraction of what it would cost to buy.

Won't get much for £490K in Cheshire.

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whatever, he's happy!

totally liquid by 30th jan, and able to mooch around cheshire putting in daft offers on farmhouses with paddocks.

No doubt one will get accepted at some point. Until then, he's renting a big old place for a fraction of what it would cost to buy.

Don't get me wrong - I think he's done the right thing - Imagine what price he'd get this time next year?! Liquid is a nice position to be in.

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He must have lost aroung £50k!!!!

What is this notion about people "losing" money? He didn't fork out the 50K, so why has he "lost" it? I guarantee he will still walk away with a huge wad of cash that he did nothing other than living in the house to get.

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  • 302 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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