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Can This Be Legal?

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Spotted this house for sale in the local paper last week for £385K:

http://www.rightmove.co.uk/viewdetails-111...pa_n=1&tr_t=buy

I nearly fell off my chair when I saw the price of it. Not simply because it's a hideous, pokey, pebble-dashed terrace (which backs onto a light industrial estate), but because I quite clearly recalled it being on the market in September 2005 for around £250K.

Sure enough, when I checked on upmystreet.com, I found the following:

37, William Street, Tunbridge Wells, TN4 9RP

(Terraced, Freehold) £245,000 26/09/2005

That's a mark up of £140K in less than 5 months. Now, I don't care if they have 'refurbished' it, this remains a gross over-evaluation on the part of the agents. I know we've all seen a thousand such instances, but this one really struck me as outrageous. Is there no law against this kind of thing? And, if there isn't, shouldn't there be?

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Spotted this house for sale in the local paper last week for £385K:

http://www.rightmove.co.uk/viewdetails-111...pa_n=1&tr_t=buy

I nearly fell off my chair when I saw the price of it. Not simply because it's a hideous, pokey, pebble-dashed terrace (which backs onto a light industrial estate), but because I quite clearly recalled it being on the market in September 2005 for around £250K.

Sure enough, when I checked on upmystreet.com, I found the following:

37, William Street, Tunbridge Wells, TN4 9RP

(Terraced, Freehold) £245,000 26/09/2005

That's a mark up of £140K in less than 5 months. Now, I don't care if they have 'refurbished' it, this remains a gross over-evaluation on the part of the agents. I know we've all seen a thousand such instances, but this one really struck me as outrageous. Is there no law against this kind of thing? And, if there isn't, shouldn't there be?

Of course it is legal. If someone is willing to pay such a price, it is the market price!

This kite-flyer might be a good property to watch. If a refurb the owners probably can´t afford to have it hanging on for too long.

btp

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It's no different than trying to sell an old brussel sprout on eBay for £20, there is nothing unlawful about it, we don't have price controls in this country.

Of course if someone is prepared to actually pay that price it's a different matter, they just need their head looking at.

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Spotted this house for sale in the local paper last week for £385K:

http://www.rightmove.co.uk/viewdetails-111...pa_n=1&tr_t=buy

I nearly fell off my chair when I saw the price of it. Not simply because it's a hideous, pokey, pebble-dashed terrace (which backs onto a light industrial estate), but because I quite clearly recalled it being on the market in September 2005 for around £250K.

Sure enough, when I checked on upmystreet.com, I found the following:

37, William Street, Tunbridge Wells, TN4 9RP

(Terraced, Freehold) £245,000 26/09/2005

That's a mark up of £140K in less than 5 months. Now, I don't care if they have 'refurbished' it, this remains a gross over-evaluation on the part of the agents. I know we've all seen a thousand such instances, but this one really struck me as outrageous. Is there no law against this kind of thing? And, if there isn't, shouldn't there be?

Well, if some muppet wants to purchase it, then that's their problem.

A fool and his/her money are soon parted...

imageJK0.JPG

Edited by werewolves

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"Minimalist style"

Someones nicked all the fixtures and fittings! :lol:

Translation

Minimalist = poorly decorated with cheap paint and the odd door knob.

:D

Edited by werewolves

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It's no different than trying to sell an old brussel sprout on eBay for £20, there is nothing unlawful about it, we don't have price controls in this country.

Of course if someone is prepared to actually pay that price it's a different matter, they just need their head looking at.

You've just given me an idea :rolleyes: . I've been looking for something stupid to sell on ebay for ages. 1 old brussel sprout. Guaranteed Decomposing :D

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You've just given me an idea :rolleyes: . I've been looking for something stupid to sell on ebay for ages. 1 old brussel sprout. Guaranteed Decomposing :D

I'm afraid the idea isn't too original. I saw the first such auction just after Christmas, it was put up purely as a joke (obviously) but after it gained such notoriety, not to mention bids, they decided to give the money to charity. The Q&A section was hilarious, including numerious enquiries as to its pedigree, "purebred Birdseye" IIRC. :lol:

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I'm afraid the idea isn't too original. I saw the first such auction just after Christmas, it was put up purely as a joke (obviously) but after it gained such notoriety, not to mention bids, they decided to give the money to charity. The Q&A section was hilarious, including numerious enquiries as to its pedigree, "purebred Birdseye" IIRC. :lol:

Why did they give the money to charity? They bought it BMV (20p) and sold it at the market rate (99.50). They have nothing to be ashamed of, and they don't owe the world a dime for the extraordinary BSPI (Brussel Sprout Price Index) blowout over the New Year. Why should they give it away?

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Why did they give the money to charity? They bought it BMV (20p) and sold it at the market rate (99.50). They have nothing to be ashamed of, and they don't owe the world a dime for the extraordinary BSPI (Brussel Sprout Price Index) blowout over the New Year. Why should they give it away?

There is a whole world of people out there making abnormal profits... Just look at the Arabs and oil.

<_<

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  • 335 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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