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Wouldliketobuy

Sellers Greed

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Talking to a friend today who has had his house up for sale for 8 months. Refuses to lower the price. Said it is worth £200k and he has it up for £180k and will take no less. He desperately needs to sell to release the equity, to pay off a £40k debt. He bought it in 2000 for £59k. I pointed out to him that if no one wants to buy at £180k then it is not worth that. His wife is a good friend and was on the phone in tears last week as the debt collectors are catching up and they can’t afford the minimum payments anymore. I suggested he put the price down to £150k. That still leaves about £50k profit after debts and the mortgage have been cleared. He was livid at the suggestion and says he is not “giving it away”.

Is this the reason the crash is yet to happen, the greed of sellers?

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Talking to a friend today who has had his house up for sale for 8 months. Refuses to lower the price. Said it is worth £200k and he has it up for £180k and will take no less. He desperately needs to sell to release the equity, to pay off a £40k debt. He bought it in 2000 for £59k. I pointed out to him that if no one wants to buy at £180k then it is not worth that. His wife is a good friend and was on the phone in tears last week as the debt collectors are catching up and they can’t afford the minimum payments anymore. I suggested he put the price down to £150k. That still leaves about £50k profit after debts and the mortgage have been cleared. He was livid at the suggestion and says he is not “giving it away”.

Is this the reason the crash is yet to happen, the greed of sellers?

Let him chase the market down. :D

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I don't know whether 'greed' is a fair word in all cases.

People have been relentlessly pumped up by the media regarding the property market for 5 years, and want their 'payback' from the party.

'Increasingly irrational optimism' would be more fair. :blink:

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I fricking hate that saying "I'm not giving it away" - its on the market for 3x+ what you paid for it idiot!

Ah but Ozz, it is probably on the market for what he owes on it - not what it is worth... Audi TTs and Nicole Farhi cashmere scarves do not come free you know. God, have you even been in Harvey Nicks?

edit: been on sauce.

Edited by tahoma

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people don't want to reduce prices because they don't see many other sellers doing that. Also i guess if they want to buy another property they still need a fair whack of money.

Having said that though...it seems stupid if the debt collectors are on your **** to be silly enough to keep fooling yourself.

They may well end in the situation of the house being repossessed which is pretty cruddy..

ah well :huh:

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Guest Winners and Losers

They may well end in the situation of the house being repossessed which is pretty cruddy..

ah well :huh:

My heart bleeds. :rolleyes:;)

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Nah! It's greed.

I wasn't old enough to remember much of the 80s (born in 1979) but from what I gather of that decade, what we have seen over the past few years surpasses any of the greed and excesses seen in the 80s.

For those of you old enough to compare these two eras of consumption, would I be correct in this observation?

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I wasn't old enough to remember much of the 80s (born in 1979) but from what I gather of that decade, what we have seen over the past few years surpasses any of the greed and excesses seen in the 80s.

For those of you old enough to compare these two eras of consumption, would I be correct in this observation?

it was all coke, champers, and loadsamoney in the 80's.

not for me though i was only 7 :( :angry:

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Guest Winners and Losers

it was all coke, champers, and loadsamoney in the 80's.

not for me though i was only 7 :( :angry:

it's all coke, champers and loadsamoney in the noughties. :rolleyes:

I think you missed the 1 in front of the 7.

Edited by Winners and Losers

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I fricking hate that saying "I'm not giving it away" - its on the market for 3x+ what you paid for it idiot!

Agreed , we need an hpc comeback / retort to that phrase. needs some thought but - Selling ain't 'giving'. If they're close to being repo'd 'giving it away' is rather better than the baliffs 'taking' it away,

Edited by Saving For a Space Ship

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Aww, I remember the loadsamoney guy in that comedy show on TV. He was the original chav, waving his wad o'cash around, burping: I gut loaaadsOmunney!

:D

(I forgot the name of the show tho. Anyone remember who and what show it was?)

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Aww, I remember the loadsamoney guy in that comedy show on TV. He was the original chav, waving his wad o'cash around, burping: I gut loaaadsOmunney!

:D

(I forgot the name of the show tho. Anyone remember who and what show it was?)

It was Harry Enfield on Saturday Night Live(?)

He did Stavros "hchallo matee-pips" before that.

NDL

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Aww, I remember the loadsamoney guy in that comedy show on TV. He was the original chav, waving his wad o'cash around, burping: I gut loaaadsOmunney!

Jimmy Savile was the original chav. Loadsamoney was more like a barrow boy made good, that's a cut above scamming another handout from the state as per the contemporary chav.

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He was livid at the suggestion and says he is not “giving it away”.

So he's got it on at 180K and you said 150K. He says 180K is fine but 150k is giving it away? So therefore, if I presume GIVING IT AWAY is getting nothing, then its only £30K between giving it away and accepting an offer?

- So offer him 30K???? :lol:

Love that line!!! He's right though, he not giving it away!!!

SOMEONE'S GOING TO TAKE IT AWAY, THE SOFT, GREEDY @SSHOLE!!!

TB

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It was Harry Enfield on Saturday Night Live(?)

Yes it was....somehow I remember the following:

Quote: Me birds page 3 and me cars a nutter, and I wave my wad at the geezers in the gutter....loadsamoney....

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He HAS to sell it for that much as that's what he's geared his spending to expect - like everyone else who is trying to sell at the moment. Only now does the fact hit home that equity isn't real until it's realised, no pun intended.

Edited by Badger

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Surely the vendor cannot be greedy? I would suggest his estate agent has told him what his house is worth and has indicated that selling a house 'below market value' would be bad for everybody and that, if he were to persue such a course, then a good kicking from anonymous associates would no doubt be the outcome.

I feel sorry for the bloke. I am sure he wants to drop the price to get a sale but is too scared to. Some estate agents are nasty pieces of work, by all accounts.

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I cannot believe that guy is happy to endure the torment of debt collectors when he can walk out 50K up on the deal (with relative ease).

Sense will hit him eventually, that or the banks will happily flog the house for whatever it can get once they've been repossessed.

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I cannot believe that guy is happy to endure the torment of debt collectors when he can walk out 50K up on the deal (with relative ease).

Sense will hit him eventually, that or the banks will happily flog the house for whatever it can get once they've been repossessed.

But the weird thing is he probably thinks he will be DOWN £50k on the deal at £150k, as I bet you he already thinks he "has" the £200k he thinks his place his worth. That's what I always find odd - vendors think they have the money that their house is apparently worth & that's why they hate taking offers as they really feeling they are losing money, even if they bought the house for tuppence farthing. Greedy & stupid.

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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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