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London Se Property - Valued £512 March 2003


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Our family house in SE London was valued professionally at £512k in March 2003.

One of the family members wants to be bought out by the remaining members.

What do you think the value of the house should be in today's market.

It's a 4 storey Georgian House, that was converted about 20years ago into 2x 1bed flats and a 2 storey masionette.

2 estate agents have said, selling it as one property as is would fetch around £585 - £600k.

One estate agent also said we'd get around £500k in an auction.

Rental Yield is around £20,000 (allowing for generous voids and maintenance).

Any ideas ???

The family member is selling up and moving abroad (also !!) - she's taking an early retirement (had enough of the rat race and sold her own house this month).

If you were in this position what would you offer to buy this person out ?

Apologies for posting in this section (maybe I'll post in one of the other sections as well)

P.S. I think (being a Bear) that it'd go for somewhere around the £535 - £565k mark.

Many thanks for any help you can provide.

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SUARA you musn't just buy their share because of the family connection......

Ask yourself if you'd buy it anyway were it not anything to do with your family....

and if you do buy it course you must factor in the current state of the market.....

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SUARA you musn't just buy their share because of the family connection......

Ask yourself if you'd buy it anyway were it not anything to do with your family....

and if you do buy it course you must factor in the current state of the market.....

Hi Michael,

Easier said than done mate - the house has been in the family for 40+ years.

Many memories, and in a good market would be worth a lot more (it's a substantial house with a lot of potential).

Tough call.

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Our family house in SE London was valued professionally at £512k in March 2003.

One of the family members wants to be bought out by the remaining members.

.

ah bless him, they've got to club together as an extended family group to be able to afford a house. all together now ...........''aaaaaahhhhhhhhhhhhh''

still camel ride ''manager'' wages these days ........what do you expect. :rolleyes:

why not ask your loser son if he wants to chip in? oooohhhh i forgot he's got nothing to chip in with. :lol: (his dad taught him everything he knew.....he's a walking talking losing self fulfilling prophecy)

back to over time with the animals and the sand methinks :D

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any way to answer your question SOLD UP, i think the with the house as it is today (with you out of the picture, abroad in Ethiopia) would be worth about 750k.

after all its the people of an area that pull prices down, not the bricks and mortar. get the rest of the losers out the house (the rest of your family) and it could push 800k :D

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Hi Michael,

Easier said than done mate - the house has been in the family for 40+ years.

Many memories, and in a good market would be worth a lot more (it's a substantial house with a lot of potential).

Tough call.

Not a tough call at all. Lose all emotion when you're talking about family money. Otherwise you'll lose all money!

Don't buy now - let some other idiot do it then buy it back in five years if you're so hung up on it. B)

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what you mean keep it within the family still?

Doesn't matter - just he must not buy it - he'll lose money hand over fist. The family can sell it and then they can buy it back for a song down the line. Of course by that time they'll not want to. Its strange how emotion gradually changes when something you felt for now holds nothing for you if you're not attached to it by, say, ownership.

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Doesn't matter - just he must not buy it - he'll lose money hand over fist.  The family can sell it and then they can buy it back for a song down the line.  Of course by that time they'll not want to.  Its strange how emotion gradually changes when something you felt for now holds nothing for you if you're not attached to it by, say, ownership.

Err no! You hope that they can buy it back for a song down the line. I have yet to see actual house prices fall. Asking prices maybe, but not actual prices.

Any fool can fly a kite with a high asking price. Shame all the other mugs think prices are falling when the price is eventually adjusted down.

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KBATT, you keep telling yourself that "It's only the asking prices that are coming down, not selling prices." Errr, guess what, if asking prices come down so do selling prices numbnuts.

Well yeah, if asking prices keep falling, but we all know that they won't. At some point asking prices will start to trend upwards again.

Show me an index, any index, that shows actual agreed and completed sale prices falling.

You will not be able to because there is no such index. just wishful thinking from people like you.

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There is such an index, it's called the LR. Shame it doesn't come out for 6 months, isn't it, so we can't disprove your *****?

Yeah right, just like house prices in London have supposed to be falling for the last year or so. Not what the LR says.

Or is the lag, lagging as well?

Wake up and smell the coffee zzg113, there are no house price falls, just asking prices.

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KBATT, the LR lags the present by as much as 9 months, sometimes more. Which house price index has shown London falling for the last year or so? None that I know of. The downturn has only really got underway after July this year (according to our man on the ground, Surveyor). So it won't have shown up in the figures yet.

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KBATT, the LR lags the present by as much as 9 months, sometimes more. Which house price index has shown London falling for the last year or so? None that I know of. The downturn has only really got underway after July this year (according to our man on the ground, Surveyor). So it won't have shown up in the figures yet.

Funny how a load of people have been claiming London has been falling since 2002. Was it on this forum? I can't remember....

Was you on that other forum. Singing pig or mighty fool? It might have been there.

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  • 442 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% +
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      • up 5%



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