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ScaredEitherWay

House For Sale (fixed Price)

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I've suddenly started noticing more and more houses being advertised as £XXXX (Fixed Price)

Can somebody educate me as to what this means, why, why I am seeing more of them... etc.

Not shared equity/ownership - but 2nd hand properties

Ta

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Guest Shedfish

i believe it means the seller is unwilling to negotiate?

there was one on down the road from me,'fixed price', for about 6 months. now it's lost the 'fixed price' tag and down 5k.

it's the one thing guaranteed to keep my eyes moving past an ad.. :lol:

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Because the owner as MEW'd to death and cannot face the reality that they have to take a loss and the Market has changed.

Because they have had a offer accepted on another house and they cannot afford to accept less and cannot accept the market has changed.

Because they are BTL and cannot accept that they might take a loss and the market has changed.

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So "Fixed Price" means: "For Sale By a T0SSER"

Thanks.

Yes. And the government has just announced that, as an economy measure, passing members of the public are to modify the "FOR SALE" sign outside the property to reflect this, using a marker pen.

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I've suddenly started noticing more and more houses being advertised as £XXXX (Fixed Price)

Can somebody educate me as to what this means, why, why I am seeing more of them... etc.

Not shared equity/ownership - but 2nd hand properties

Ta

I think it's supposed to mean that, if you offer the price they're asking, the house will be taken straight off the market and you won't get into a bidding war. I'm inclined to agree with the 'for sale by tosser' interpretation myself.

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As I see it, a lot of the "problem" of these people is failing to see what they actually owe.

Say:

Mortgage of £100k

Car Loan of £15k

Credit Card debt of £10k

Re-finance into a mortgage - enabling them to benefit from lower interest rates on their £25k debt ... and

Mortgage of £125k - so mentally they've refixed the debt on the house, not to their poor spending habits.

So they they try to sell and screw the buyers to pay for their car and holidays in effect. Holding their price unrealistically high because of it.

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Yes, in Scotland it means the seller is desparate. The more fixed price properties the better for us.

According to solicitors I've talked to, "fixed price" in Scotland is not necessarily all that fixed. Most of them will attempt to negotiate a selling price somewhat below the fixed price advertised.

Theoretically, fixed price means that the first person to offer the asking price secures the property. In practice I don't believe it's quite as simple as that.

Many properties in Scotland go onto the market on the "offers over" system, and then if they don't sell they get bumped to "fixed price" (usually with a much higher number on the ticket). It can be sign that the vendor is keen to sell, but that might just be because they have a chain to complete or a closing date on another property (or job offer, or what have you). It's also fairly common for English people living in Scotland to choose the fixed price system, because it's more similar to the way houses are bought and sold south of the border.

It's still not clear to me whether the OP was talking about a property in England or in Scotland...

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It's still not clear to me whether the OP was talking about a property in England or in Scotland...

Maybe neither. To the left of his/her post it says "From: wales"

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I have to say I detest the Scottish system. Correct me if I'm wrong here, but I think I'm correct in saying that if I am interested in a property I have to spend cash on it before bidding on it to see if the property is all OK?

If this is the case, and I have been lead to believe it is, that stinks and I can't think of a system which is so biased and unfair to, say struggling FTB's who have to go through the process of bidding on property that they may not in all honesty actually secure.

Give me a top end price where I can pitch my offers under any day than a system which slowly leeches cash from you as you bid on several properties.

well said that skull

in England fixed price is a bully boy tactic used by EAs to make the buyer think that that is the price that will be achieved i.e. don't you dare offer anything lower - in reality it sucks and when the time to buy comes I won't even consider looking at a house which is fixed price - 'offers over' is a similar bullying trick = 'don't bother putting in a low offer'

Edited by the end is nigh

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I meant England/Wales.

Couldn't post before as the flood control stopped me, even though I waited aaaages.

Maybe they've started putting this because people (er, like I would) are going in 20% under.

Edited by ScaredEitherWay

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