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Warwickshire Lad

Ftbs: Anyone Tried A Private Advert

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I was wondering if any FTBs here have considered, or in fact have already tried, placing a private advertisement in a local newspaper in an attempt to find a vendor who will sell to you "Below Market Value".

At the moment, BMV seems to be very much an investor trick, but surely it should work for ordinary FTBs too.

If you get someone who is desperate enough to sell and is willing to take 25% (or more) below typical price in an EAs window, then I wonder if that might just be worth a shot.

What about wording such an advert as :-

"Local first-time buyer (with mortgage approved in principle) requires semi-detached house in a good area. Looking for vendor who would like a quick sale without involving an Estate Agent, in return for a property priced considerably below typical asking prices. I only want a house to live in, not as an investment."

What do people think ? Would it work ?

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Guest muttley

I'm not sure.

It is certainly possible to sell a house in a rising market without involving a EA, I know someone who did just that.

In a falling market it would be harder. A good EA would be better in this case.

Three cheers for the EAs!!

Hip! Hip.........( deathly silence)

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At the moment, BMV seems to be very much an investor trick, but surely it should work for ordinary FTBs too.

If you get someone who is desperate enough to sell and is willing to take 25% (or more) below typical price in an EAs window, then I wonder if that might just be worth a shot.

Is it January 2nd already? :P

http://www.housepricecrash.co.uk/forum/ind...ic=21375&hl=BMV

And the guys 'n' gals who know about such stuff are here -

http://www.singingpig.co.uk/forums/41/ShowForum.aspx

HTH :D

Edited by JohnG

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"Local first-time buyer (with mortgage approved in principle) requires semi-detached house in a good area. Looking for vendor who would like a quick sale without involving an Estate Agent, in return for a property priced considerably below typical asking prices. I only want a house to live in, not as an investment."

What do people think ?

Estate agents would be in uproar!!

I've never much got the concept of estate agents, they're a bit like a dinosaur fighting for survival.

Well, when you sell a car, you don't need a "Car agent" who takes 2% of your sale price of sold car do you?. You tend to arrange all the official documents yourself without the solicitor's fee's, etc, etc on selling cars on.

:unsure:

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Someone has already beaten you to it.

We are a major national property company whose mission is to help you sell your home quickly and stress-free. We guarantee to make an offer to buy your property, residential or commercial, regardless of condition or location.

In some cases, we complete in less than 7 days. We can even arrange for you to stay in your property as a tenant.

Whether you have found your dream home and need to sell yours quickly, are relocating, moving abroad, need access to the cash locked in your property or simply don't want to worry about the wait on the open market, National Homebuyers can help with your situation.

My guess is business must be booming...

http://www.nationalhomebuyers.co.uk/

Edited by BandWagon

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I've thought about it, not so much to buy BMV but because nearly all the houses we viewed and were interested in got taken off the market - not sold, just taken off, before we could even make an offer. I was also going to leaflet houses/stick a card in a post office window etc, but I thought in the end that it might just attract even more kite flyers than the EAs had introduced us to, so I've dropped the idea for now. I posted on a (well-used) local website, and got precisely 0 replies.

Anyway, we're waiting right now to hear back having placed a serious offer on a house - there and then, first viewing and all.

Fingers crossed, I'll be joining shitmyhousehasjustfalleninvalue20percent.co.uk in a year or two... :D

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I posted on a (well-used) local website, and got precisely 0 replies.

Sorry to hear that. :(

But it would be bliss to avoid Estate Agents and that is both to the benefit of buyer and seller because one tier of bulls**t can be removed from the equation straightaway.

It does cost money to place an ad and there's no guarantee that anyone's even going to be reading it let alone be in a position to sell their house to you at a considerable discount.

Personally I'm not going to be buying, and will more than likely rent - however later this year I may test the water a little by doing something like this.

I think that people are naturally suspicious of companies like National Home Buyers and the army of investors who word adverts in typical sales-speak, like those BMV lot.

Maybe a sympthetically worded ad by a genuine FTB would attract less suspicion, perhaps. Or maybe not.

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I think the theory is good but it relies on the vendors actually giving a damn and most don't they will squeeze every last penny out of FTB and don't care they are ruining their lives. And the EA is their best friend remember because he says my house is worth X

We viewed a house, nice middle aged couple, they took a liking to our children, had my baby on her knee, told us all about how they bought the house 20 years ago and had raised three children in this house just like we were planning to.

Offered them £300 on a £320 asking price they refused :angry: bastards

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I think the theory is good but it relies on the vendors actually giving a damn and most don't they will squeeze every last penny out of FTB and don't care they are ruining their lives. And the EA is their best friend remember because he says my house is worth X

We viewed a house, nice middle aged couple, they took a liking to our children, had my baby on her knee, told us all about how they bought the house 20 years ago and had raised three children in this house just like we were planning to.

Offered them £300 on a £320 asking price they refused :angry: bastards

On the outside is the formality, the nicety, and the jovial friendly happy-go-lucky exteriour, yet on the inside is a greedy cold heart of darkness that wants to screw you for every last penny.

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The 'BMV' concept is interesting.

A friend of mine was in a country pub, drinking with people who he knew were mainly farmers and landowners. The subject of house prices came up, and everyone agreed that it was such a shame that the local young folk couldn't afford to buy houses, what with the price of them these days, scandalous it was.

My friend made a suggestion. Maybe, he said, the people who had houses to sell in the village didn't have to charge the full market value.

Silence. <_<

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On the outside is the formality, the nicety, and the jovial friendly happy-go-lucky exteriour, yet on the inside is a greedy cold heart of darkness that wants to screw you for every last penny.

It would appear so. I wouldn't say that applies to 100% of house sellers though, maybe about 99.3%.

Still that does leave a small percentage who would might entertain the idea. Once market psychology changes I would be in a much better position.

Still the reason I started the topic is to look for ways in which FTBs can use some initiative rather than just waiting and stuck in paralysis.

People in business start and make money because they are pro-active and go out and do things. At the moment this is what's needed.

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I've thought about it, not so much to buy BMV but because nearly all the houses we viewed and were interested in got taken off the market - not sold, just taken off, before we could even make an offer. I was also going to leaflet houses/stick a card in a post office window etc, but I thought in the end that it might just attract even more kite flyers than the EAs had introduced us to, so I've dropped the idea for now. I posted on a (well-used) local website, and got precisely 0 replies.

Anyway, we're waiting right now to hear back having placed a serious offer on a house - there and then, first viewing and all.

Fingers crossed, I'll be joining shitmyhousehasjustfalleninvalue20percent.co.uk in a year or two... :D

Warickshire Lad just go for it. Try the door by door posting as well. I mean, you should have looked at 50 houses before you buy one anyway, so if they are kit flyers, so what. I would just have a very clear spec of what you want and what you are prepared to pay and hopefully some oldie with a big overgrown backyard and a kitchen from the 1950s (those are the ones that sell to the investment companies) will decide she is very happy with whatever you have so long as it is enough to pay for her nice new sheltered unit and some money aside for retirement (and if she wants to she can go to one of those companies to see what they will offer her as a comparison - they say it is 20% off, but I am betting on about 30%). And if it doesn't work, what have you lost?

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Ask the estate agent for ‘Below market value property’, they’ll

Have a few in the bottom draw, but beware they could also be

problem properties with major repair issues.

I get angry with some vendors that have spent thousands on

Windows, doors, laminated flooring, etc… etc….

And have completely ignored rising damp, wood rot , loose roof tiles,

damaged brickwork, and other remedial work that adds no value to, but stops

Serious structural damage developing.

One of the reasons I’m in favour of ‘Hips’.

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I think the theory is good but it relies on the vendors actually giving a damn and most don't they will squeeze every last penny out of FTB and don't care they are ruining their lives. And the EA is their best friend remember because he says my house is worth X

We viewed a house, nice middle aged couple, they took a liking to our children, had my baby on her knee, told us all about how they bought the house 20 years ago and had raised three children in this house just like we were planning to.

Offered them £300 on a £320 asking price they refused :angry: bastards

Been there, too. Offered (eventually) £173 on a £179 (!) asking price. The vendors weren't bastards though - they needed x amount to be able to move on to where they wanted. People further up the chain wouldn't accept less, so in the end the people we wanted to buy from gave up completely. That 6k was a piddling amount to those further on, but they wouldn't budge. I hope their house is still languishing on the market - or better still they've had to drop by £10 or £20k...

Edited by vicster

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What do people think ? Would it work ?

In a few cases yes - in most cases no.

People in general do not trust EA's :unsure: , however in my experience many seller's are sceptical of buyer's and buyer's are often dubious of seller's. That is one of the main problems with the UK housing market - the amount of distrust between the parties involved.

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I think it might work, if someone were in a bit of trouble and were contemplating going to homebuyers (or whatever they're called) already.

It would make sense for them, really. Even if you're offering BMV, they'd have less to shell out on fees and so forth. I'm assuming that your BMV would be a little fairer (whatever that means in the current climate) than homebuyers'...

You might just get lucky with your timing - nothing ventured and all that.

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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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