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aussieboy

Contracts Exchanges... Lessons Learned

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Just exhanged contracts on a house in S Yorks. With no particular structure, here are a few observations (some have been seen before, but this is a montage, as they say):

- I never once set foot in the estate agent's, nor did any in the chain. It was all done over the phone and the internet. So I'm not sure how important observations of empty EA offices are in terms of market activity

- Some in the chain went to sealed bids (not ours): the process was very competitive up the chain (we were the quasi-FTB here). Our vendor got sick of showing people around (there was a queue when we looked around) and accepted asking price to get avoid the hassle (belive this if you will)

- Long delay in getting our survey because the guy was so busy (not seen anything like it for a long time)

- All but one of the other houses on my hit list (except one) sold in the week before I made this offer. The houses on the same street also all sold

- An important reason to gear is to get some debt discipline. Most people (e.g. me) are lazy and the easiest way to ensure that money is not spent on too many iPods is to get a bit of leverage into the personal balance sheet. Buying a house is the cheapest way to gear up

Who knows what will happen to the value of the place over the next few years... as long I get sufficient utility out of the place, up to a point I don't really care.

ab

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You are totally insane buying a property now. It will be the worst mistake of your life. You will find that the property when end up being a millstone round your neck that will drag you down. In buying a property you have effectively put a noose around your neck that will get tighter and tighter and you will suffer a slow and painful strangulation.

There are good times and bad times to buy property. The worst time to buy property is now. What do you expect to gain in buying a property at the market peak? Shame on you. Some people will just have to learn the hard way by getting their fingers badly burnt.

I suggest that you dispose of the property straightway before it is too late and you end up toast.

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Just exhanged contracts on a house in S Yorks. With no particular structure, here are a few observations (some have been seen before, but this is a montage, as they say):

- I never once set foot in the estate agent's, nor did any in the chain. It was all done over the phone and the internet. So I'm not sure how important observations of empty EA offices are in terms of market activity

- Some in the chain went to sealed bids (not ours): the process was very competitive up the chain (we were the quasi-FTB here). Our vendor got sick of showing people around (there was a queue when we looked around) and accepted asking price to get avoid the hassle (belive this if you will)

- Long delay in getting our survey because the guy was so busy (not seen anything like it for a long time)

- All but one of the other houses on my hit list (except one) sold in the week before I made this offer. The houses on the same street also all sold

- An important reason to gear is to get some debt discipline. Most people (e.g. me) are lazy and the easiest way to ensure that money is not spent on too many iPods is to get a bit of leverage into the personal balance sheet. Buying a house is the cheapest way to gear up

Who knows what will happen to the value of the place over the next few years... as long I get sufficient utility out of the place, up to a point I don't really care. ab

If you have any money left please drop me an email. I have some tulip bulbs that you might be interested in.

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You are totally insane buying a property now. It will be the worst mistake of your life. You will find that the property when end up being a millstone round your neck that will drag you down. In buying a property you have effectively put a noose around your neck that will get tighter and tighter and you will suffer a slow and painful strangulation.

There are good times and bad times to buy property. The worst time to buy property is now. What do you expect to gain in buying a property at the market peak? Shame on you. Some people will just have to learn the hard way by getting their fingers badly burnt.

I suggest that you dispose of the property straightway before it is too late and you end up toast.

Thanks for that completely valueless and condescending pile of opinion, Trees. By the way, I'm of the opinion that you have a malign growth on your brain. I'm thinking glioblastoma and that you have a very short time to live. Plus, it's heriditary so all your children will have it too. So there we go: one unfounded scaremongering piece of groundless opinion traded for another.

What do I expect to gain by buying a house now? That's a difficult question... perhaps the answer is, erm, a house. I need a house there and I need it now. My post made it clear that it wasn't speculation, FFS, and the level of debt is not material.

If you have any money left please drop me an email. I have some tulip bulbs that you might be interested in.

I refer Mr dog to the answer I gave previously to Mr Trees, and add the observation that this house has intrinsic value i.e. I intend to live in it.

However, dog, if one of your tulip bulbs has four bedrooms, then I'll ping over a PM now.

Labelled a troll within 10 posts. You're fast....does your GF complain?

Nope... but his mother's dog does.

I'm quite enjoying this.

Who's next?

Or would someone actually like to engage with the content of my posting?

Edited by aussieboy

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I am able to offer some views from the other end of the spectrum. (I should point out that these are the experiances of my land lord who is selling the house I live in at the moment).

He got the house valued at £145,000 with the expectation of a quick easy sale from the estate agent. After three months of zero viewings he got worried.

Went to the agents office and was told things were slow at the moment but a few more weeks would see some results as spring was just around the corner. Dropped price to £135,000.

After another two months he agreed to sell to a friend but for £120,000.

Every high street bank refused the buyers request a mortgage, ended up talking to a friend of a friend who is a financial advisor, she pulled a few strings and got him a mortgage in principal.

One full structural survey later they weren't satisfied, had a seperate timber survey done but they still weren't satisfied, had a carbon survey done and waiting to her the verdict (all three surveys done in less than two weeks).

Edited by HomeAlone

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Guest Guy_Montag

Congratulations AB, I hope it works out well for you.

When's the housewarming party?

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Thanks for that completely valueless and condescending pile of opinion, Trees. By the way, I'm of the opinion that you have a malign growth on your brain. I'm thinking glioblastoma and that you have a very short time to live. Plus, it's heriditary so all your children will have it too. So there we go: one unfounded scaremongering piece of groundless opinion traded for another.

What do I expect to gain by buying a house now? That's a difficult question... perhaps the answer is, erm, a house. I need a house there and I need it now. My post made it clear that it wasn't speculation, FFS, and the level of debt is not material.

I refer Mr dog to the answer I gave previously to Mr Trees, and add the observation that this house has intrinsic value i.e. I intend to live in it.

However, dog, if one of your tulip bulbs has four bedrooms, then I'll ping over a PM now.

Nope... but his mother's dog does.

I'm quite enjoying this.

Who's next? Or would someone actually like to engage with the content of my posting?

XYY I suspect. Apparantly the prison population has a higher than average number. Have any nations been founded with prisoners?

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Or would someone actually like to engage with the content of my posting?

Sealed bids. Sounds like Sheffield.

I know it's buzzing Sheffield, Barnsley & Rotherham. Loads of Sold signs. Way different to last August up until about February when nowt was shifting. Totally different story now.

The only thing different with me was that the surveyor came around the next day - £300 to state the bleedin obvious, Halifax are robbing gits.

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Good on you for doing what you want to do and getting on with it.

Through the nature of my work I am able to see a certain amount real-time data involving property sales as they progress through the system and a lot of comments about what is happening in agents offices or other theories are pure fantasy.

No doubt things will change but how no one really knows.

One thing I do wonder about is what some of the resident experts do for a living. As their expert financial knowledge and copious amounts of time to post 1,000's of messages surely must mean they can generate more than sufficient income not to have to worry about the worlds financial problems rather than quacking on about it 24/7.

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Quotes from aussieboy (just in case people didn't notice)

I'm of the opinion that you have a malign growth on your brain. I'm thinking glioblastoma and that you have a very short time to live.
Plus, it's heriditary so all your children will have it too.

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Quotes from aussieboy (just in case people didn't notice)

it's ok dog, he talked crap on the yorkshire prices thread too - i think the word TROLL springs to mind - i can tell you that houses around me certainly aren't selling, in particular our faves, the new built flats, are tanking

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Quotes from aussieboy (just in case people didn't notice)

Ermm... the idea of my comments were that they are pure fantasy... and a piece of reciprocity to Mr Trees (he of Troll fame) of wishing of ill on others along the "you're screwed" line of trolling. And I thought that I was pretty kind to you, dog. I like the XYY comment... still, it's better than being a Kleinfelter type like you (nyah nyah).

Thanks for the others for their comments...we'll have to see when TTRTR is available before scheduling a house warming.

BTW first time I've been called a troll, which is quite exciting. Given that I've been boring you guys with this process for 6 months (perhaps S Yorks is different from Leeds... whatever, call it crap if it doesn't fit with your world view if you like), I'd have to be a very determined troll to keep it up. Tried to keep my posts factual (theoretical?) as far as possible so far. I've been in the market. I've made several offers over the last few months with highly variable outcomes, and here's the outcome. Take something from this or ignore it as you will.

[Edited for younger readers.]

Edited by aussieboy

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Guest Guy_Montag

call it crap if it doesn't fit with your world view if you like), I'd have to be a very determined troll to keep it up.

A valid point about dismissing things that don't fit into your world view. I try to be open-minded (well about some things), and to be honest, not matter how much I want there to be a substantial house price crash, it is entirely outwith my control. If it happens it happens, & if we have entered a new paradigm of high house prices, well then, shame I wasn't born in 1975.

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Sealed bids. Sounds like Sheffield.

I know it's buzzing Sheffield, Barnsley & Rotherham. Loads of Sold signs. Way different to last August up until about February when nowt was shifting. Totally different story now.

The only thing different with me was that the surveyor came around the next day - £300 to state the bleedin obvious, Halifax are robbing gits.

Jan - Mar 2006

Average Sales Completed

SHEFFIELD 138530 1876

Oct - Dec 2005

Average Sales Completed

SHEFFIELD 142464 2425 Down 2.76%

Jan - Mar 2006

Average Sales Completed

BARNSLEY 110116 857

Oct - Dec 2005

Average Sales Completed

BARNSLEY 120003 1324 Down 8.24%

Jan - Mar 2006

Average Sales Completed

ROTHERHAM 124581 783

Oct - Dec 2005

Average Sales Completed

ROTHERHAM 122408 1161 Up 1.78%

Only place that seems be up is Rotherham

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Sealed bids. Sounds like Sheffield.

I know it's buzzing Sheffield, Barnsley & Rotherham. Loads of Sold signs. Way different to last August up until about February when nowt was shifting. Totally different story now.

The only thing different with me was that the surveyor came around the next day - £300 to state the bleedin obvious, Halifax are robbing gits.

Sheffield it is: spot on. It's a miserable place to be a buyer... there's a consensus that asking price is a batna rather than an ambit claim. Vendors and EAs get very tushy if you don't play the game (which I didn't for a year or so).

Concur with the survey comment. Complete waste of time and money if no mortgage required: 'condition of roof is as expected for a property this age'. Thanks for that.

Interesting to see Nick T's figures, but I had trouble understanding them fully.

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Interesting to see Nick T's figures, but I had trouble understanding them fully.

I know what you mean, that's the problem when you rely on looking at pie-charts and tables, instead of looking out of your window to see what's really happening.

It's buzzing at the moment. It's not boomsville, there's no panic buying (or selling), but things are selling and they've nudged up a few %

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Ermm... the idea of my comments were that they are pure fantasy... and a piece of reciprocity to Mr Trees (he of Troll fame) of wishing of ill on others along the "you're screwed" line of trolling. And I thought that I was pretty kind to you, dog. I like the XYY comment... still, it's better than being a Kleinfelter type like you (nyah nyah).

Thanks for the others for their comments...we'll have to see when TTRTR is available before scheduling a house warming.

BTW first time I've been called a troll, which is quite exciting. Given that I've been boring you guys with this process for 6 months (perhaps S Yorks is different from Leeds... whatever, call it crap if it doesn't fit with your world view if you like), I'd have to be a very determined troll to keep it up. Tried to keep my posts factual (theoretical?) as far as possible so far. I've been in the market. I've made several offers over the last few months with highly variable outcomes, and here's the outcome. Take something from this or ignore it as you will.

[Edited for younger readers.]

There is a world of difference between gloating about somebody's financial demise and the demise of someone's health and that of their children.

Both are distasteful, though the latter is great deal more repugnant in my opinion. You have done yourself no favours in reacting the way you did.

NDL

edited to add: Good luck with your house by the way.

Edited by New Darker Law

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There is a world of difference between gloating about somebody's financial demise and the demise of someone's health and that of their children.

Both are distasteful, though the latter is great deal more repugnant in my opinion. You have done yourself no favours in reacting the way you did.

NDL

edited to add: Good luck with your house by the way.

NDL, the guy's a troll sowing nasty seeds of doubt (looks at the rest of his postings). I'm not here to do myself favours... although I'm not sure how being more favoured would manifest. I'm here to make an effort to add to the general discourse on house prices and to discourage the posting of crap like Mr Trees insists on broadcasting.

The only good thing about the guy is that I've now learnt how to use the ignore function so that I can also avoid getting into debate with the more jingoistic elements of this community. If I'd known about this function earlier, we could have avoided all of this as will be the case going forward

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Hey, y'all

A guy comes on offering an opinion & a recent experience concerning the topic of this web site.

Just 'cos this is maybe not what some want to hear, there is no reason to suppose it is anything but genuine.

Obviously there are market fluctuations which could vary street to street.

Hope all goes well AB, good luck in your new home.

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Hey, y'all

A guy comes on offering an opinion & a recent experience concerning the topic of this web site.

Just 'cos this is maybe not what some want to hear, there is no reason to suppose it is anything but genuine.

aussieboy said to one of the contributers:

I'm of the opinion that you have a malign growth on your brain. I'm thinking glioblastoma and that you have a very short time to live. Plus, it's heriditary so all your children will have it too.

Wishing brain tumours on other people and their children is not what I want hear.

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aussieboy said to one of the contributers:

Wishing brain tumours on other people and their children is not what I want hear.

I guess either party could have toned down their comments, anyway the whole site is about opinions whether agreed with or not, shame it has to get personal.

Enough philosophy.

WHAT a cup final!!!!

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I guess either party could have toned down their comments, anyway the whole site is about opinions whether agreed with or not, shame it has to get personal.

Enough philosophy.

WHAT a cup final!!!!

Yeah, poor Gretna eh? ;)

NDL

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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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