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GAL BEAR

Woman Down The Road Finally Sold - After 12 Months!

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I posted on here back in September 05 about a woman down the road from me who had been trying to

sell her house since Christmas 04.

She had it on for £220,000 (or thereabouts).

Anway she told me how she had found a buyer but they had offered 10 grand UNDER the asking price.

She had refused to sell it for that.

I told her she was mad and should have snapped that offer up.

I told her of how a friend of mine at work had refused a similar offer on her house and still had not

sold 6 months later.

Anyway this Woman down the road explained to me that she needed to get the full asking price as she

wanted to downsize and pay of lots of debts. I told her "You will regret that you refused that offer!"

She has now sold, almost a year later and a half later!

Amazingly HAARTS put a card throught the door with a picture of her house and what I can only presume

was the selling price underneath £190,000 !!!!!

So she took a 30 grand hit !

Unless that was the 'asking price' and in that case her hit could be even worse !!!

That will teach her for being so greedy! :lol:

The house is in Romford, Essex. (3 or 4 bed ex-council).

It is down quite a nice road which backs on to woodland, so it is quite nice for a council area.

Does a 30 grand hit signify a crash ? MMMMMmmm let me think !!!

Edited by GAL BEAR

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Guest Winners and Losers

Nice one GAL Bear. Chasing down the market in action. I would advise people to take what they can get, its only gonna go down.

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Does a 30 grand hit signify a crash ? MMMMMmmm let me think !!!

No, it signifies she was being greedy and had overpriced her house. What have the other houses on her road sold for?

:(

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Any chance of a postcode so it can be checked out? I've seen posts get binned to Troll forum for less.

220k for an ex-council? Now that is nuts. Thank god its all still fairly sane (obviously exceptions) up here.

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No, it signifies she was being greedy and had overpriced her house. What have the other houses on her road sold for?

:(

My thoughts exactly considering the fact she "had" to sell at that price in order to clear the mortgage and debts which were probably secured on the house.

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Guest Winners and Losers

No, it signifies she was being greedy and had overpriced her house. What have the other houses on her road sold for?

:(

But that is exactly what chasing down the market is, over valuing in the first place in a market that slowing or even falling. It does not signify a crash of course, but I wonder how many other vendors and EA's are over valuing at the moment. The talk of 'realistic pricing' is just around the corner.

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But that is exactly what chasing down the market is, over valuing in the first place in a market that slowing or even falling. It does not signify a crash of course, but I wonder how many other vendors and EA's are over valuing at the moment. The talk of 'realistic pricing' is just around the corner.

I except your point IF another house on the street has sold for more than the 190 obtained by the seller, otherwise it just signals one greedy idiot overvaluing their house.

;)

Edited by devslim

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No, it signifies she was being greedy and had overpriced her house. What have the other houses on her road sold for?

:(

Most of them are still on the market, nothing sold for at least 6 months !

Some have on about 3 different EA's !

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No, it signifies she was being greedy and had overpriced her house. What have the other houses on her road sold for?

:(

You have a point, but at the same time, an EA must have agreed to put it on the market for £220k, and conduct a year's worth of viewings at that price level. It can't just have been the seller who thought that was a realistic price.

frugalista

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Guest Winners and Losers

You have a point, but at the same time, an EA must have agreed to put it on the market for £220k, and conduct a year's worth of viewings at that price level. It can't just have been the seller who thought that was a realistic price.

frugalista

My point exactly.

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You have a point, but at the same time, an EA must have agreed to put it on the market for £220k, and conduct a year's worth of viewings at that price level. It can't just have been the seller who thought that was a realistic price.

frugalista

Perhaps the EA was getting a free blowy every week for agreeing to keep it on at that price. It's all just speculation and assumption unless you have some cold hard facts. What's the post code?

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Guy in work had his flat on for originally 93K (posted this here) and eventually got an offer of £86K which he accepted. It WAS a BTL but his view was - whoever comes up with the cash first wins. Fair Policy.

Anyway, the EA was getting more and more people involved and said to him we think we can get you more. He said, "I am happy with the £86K, its a fair price, and I know it will go through coz there is no chain".

At this stage the BTL had his survey done for mortgage purposes, then phoned him to say, are you definately gonna sell it to me coz I am getting a structural done, and its gonna cost me a few quid? True to his word, he said YES if you can complete in a month.

He said he could - DEAL DONE!

The Estate Agent then phones him and says we have someone who has put an offer of £90K in, brilliant hey?

NO said the seller. I have agreed a price and I am happy that this will go though. THe extra time sorting the deal, paying your extra commisiion (BUTTONS REALLY) and the fact that they dont have their mortgage in place means I am NOT RISKING a loss of sale for 4K. I have the house I want, I have had the offer accepted based on my £86K sale. So I am not risking it. Take it off the market.

Everything seems to be going through smoothly......

I can see this happening a lot more. When people realise that prices dropping are not such a bad thing as their future house will be cheaper. They will then appreciate that a sale is far more important than an extra few per cent.

So the seller has chased the price DOWN against the EA's advice :)

TB

Edited by teddyboy

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I posted on here back in September 05 about a woman down the road from me who had been trying to

sell her house since Christmas 04.

She had it on for £220,000 (or thereabouts).

Anway she told me how she had found a buyer but they had offered 10 grand UNDER the asking price.

She had refused to sell it for that.

I told her she was mad and should have snapped that offer up.

I told her of how a friend of mine at work had refused a similar offer on her house and still had not

sold 6 months later.

Anyway this Woman down the road explained to me that she needed to get the full asking price as she

wanted to downsize and pay of lots of debts. I told her "You will regret that you refused that offer!"

She has now sold, almost a year later and a half later!

Amazingly HAARTS put a card throught the door with a picture of her house and what I can only presume

was the selling price underneath £190,000 !!!!!

So she took a 30 grand hit !

Unless that was the 'asking price' and in that case her hit could be even worse !!!

That will teach her for being so greedy! :lol:

The house is in Romford, Essex. (3 or 4 bed ex-council).

It is down quite a nice road which backs on to woodland, so it is quite nice for a council area.

Does a 30 grand hit signify a crash ? MMMMMmmm let me think !!!

GAL BEARS posts are always kinda hard to verify methinks. Lots of 'oh my god' statements but very little evidence........

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Guy in work had his flat on for originally 93K (posted this here) and eventually got an offer of £86K which he accepted. It WAS a BTL but his view was - whoever comes up with the cash first wins. Fair Policy.

Anyway, the EA was getting more and more people involved and said to him we think we can get you more. He said, "I am happy with the £86K, its a fair price, and I know it will go through coz there is no chain".

At this stage the BTL had his survey done for mortgage purposes, then phoned him to say, are you definately gonna sell it to me coz I am getting a structural done, and its gonna cost me a few quid? True to his word, he said YES if you can complete in a month.

He said he could - DEAL DONE!

The Estate Agent then phones him and says we have someone who has put an offer of £90K in, brilliant hey?

NO said the seller. I have agreed a price and I am happy that this will go though. THe extra time sorting the deal, paying your extra commisiion (BUTTONS REALLY) and the fact that they dont have their mortgage in place means I am NOT RISKING a loss of sale for 4K. I have the house I want, I have had the offer accepted based on my £86K sale. So I am not risking it. Take it off the market.

Everything seems to be going through smoothly......

I can see this happening a lot more. When people realise that prices dropping are not such a bad thing as their future house will be cheaper. They will then appreciate that a sale is far more important than an extra few per cent.

So the seller has chased the price DOWN against the EA's advice :)

TB

That chap seems sound :)

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Does a 30 grand hit signify a crash ? MMMMMmmm let me think !!!

Not if her house sold for more than identical houses did last year.

rolleyes.gif

post-67-1146681280.gif

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Give us the postcode and an idea of what other houses sold for.

And that's before you even start me on the merits of letting people who pay sod all rent (far less than a house costs and we subsidise it) buy a house at a fat discount then resell it at a big profit.....

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Guest Guy_Montag

Not if her house sold for more than identical houses did last year.

I think the point is that had she taken it she could have sold at 210k, but she held off & sold for 190k. So in fairness this is a 20k drop (c.10%).

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I think the point is that had she taken it she could have sold at 210k, but she held off & sold for 190k. So in fairness this is a 20k drop (c.10%).

]

No it's not, it's an exercise in why a bird i'th hand..... that and why you should not be a feedy grucker

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  • 341 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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