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'desperate' House Sale Couple Offer Mortgage Deal To Potential Buyers


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anything but

DROP THE F***ING PRICE

But in all seriousness why don't they drop the price?

If they are offering £500 pm for say 12 months (assuming no one is in until Jan 2009) and £2000 cash, that is £8k.

Why not knock off £8k!!!!!

Either they think that the potential buyers are stupid and will fall for gimmicks or somehow that its because the nasty banks won't help out potential buyers.

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But in all seriousness why don't they drop the price?

If they are offering £500 pm for say 12 months (assuming no one is in until Jan 2009) and £2000 cash, that is £8k.

Why not knock off £8k!!!!!

Either they think that the potential buyers are stupid and will fall for gimmicks or somehow that its because the nasty banks won't help out potential buyers.

denial makes people do very strange things. They simply can't bring themselves to just knock 10-15% off the asking price...idiots.

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denial makes people do very strange things. They simply can't bring themselves to just knock 10-15% off the asking price...idiots.

A neighbour of mine had a retirement visa to Australia, a condition of this was that they had to have something like £300,000 in their bank account (dont quote me on the exact amount) They got this by selling their home. This couple may have the same requirement, I guess as long as they have the money in the bank for the check they can then pay it back as monthly repayments and can still meet their visa conditions.

Dont shoot me down its just a thought, may not be the reason at all!

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A neighbour of mine had a retirement visa to Australia, a condition of this was that they had to have something like £300,000 in their bank account (dont quote me on the exact amount) They got this by selling their home. This couple may have the same requirement, I guess as long as they have the money in the bank for the check they can then pay it back as monthly repayments and can still meet their visa conditions.

Dont shoot me down its just a thought, may not be the reason at all!

Of course if they haven't sold their house, they'll have zero in the bank.

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Actually, I think this is quite shrewd - going from 339,950 to 331,950 is unlikely to make any buyers think its a bargain.

By offering a mortgage subsidy, they have a shot at all those fools who think "I could just about afford that for a year, and I might have had a payrise/improved mortgage offer/win on the lottery by then...."

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Actually, I think this is quite shrewd - going from 339,950 to 331,950 is unlikely to make any buyers think its a bargain.

By offering a mortgage subsidy, they have a shot at all those fools who think "I could just about afford that for a year, and I might have had a payrise/improved mortgage offer/win on the lottery by then...."

Agreed, it's like all the silly stamp duty paid or subsiside your mortgage for a year crap the building firms are doing. Actually, a lot of thing on Right Move now have stamp duty paid on them. I'd be like, no thanks, just drop the price by the same amount as the stamp duty you're paying.

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I noticed that a local EA has 5% Vendor paid deposit on many properties why not just knock 5% off asking price ?

They want to protect the precious land registry figures, even though you should technically tell your lender and LR about these kind of incentives, because they then add these to the price. Of course they will encourage you to lie to both LR and mortgage lender.

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Perhaps they should offer buyers an actual mortgage rather than a cash incentive. By working around the credit crunch, such a tactic might flush out the final and greatest fool...

They'd have to be prepared to parlay a lump sum into a stream of mortgage income, but isn't that the sort of thing that people do at retirement age in any case?

Worst case scenario: they repossess the house in a couple of years, and go after the buyers for the NE :lol:

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I noticed that a local EA has 5% Vendor paid deposit on many properties why not just knock 5% off asking price ?

The good thing about these vendor deposits, is I would ignore it make a reasonable (silly to an EA) offer then when it was agreed still expect the 5% deposit. :lol:

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At first, the house was on the market at £360,000 but as the credit crunch has taken hold and the housing market slowed, the number of viewings has fallen dramatically. Now the property is priced at £339,950.

It's been on more than a year and all they have dropped is a shade over £20k, about 6-7 percent.

All they have done is raised a flag saying "We are desperate, please take advantage".

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I have an interesting story to share. About two and a half years ago a couple of fat women purchased a four bedroom detatched house up the road from me for £182,500 pounds, which i thought at the time was very cheap. They paid a builder a massive £60,000 to strip renovate and finish to a suposedly high standard. So far the outlay is £242,000.

It went back on the market six months later for £325,000. A wopping £80,000 profit. Just the story for a property program to get you itching to have a go. But i thought my own opinion was that it was only worth £250,000.

After a year the owners had a showing day so i thought i would go and see how they could justify the price. On inspection my suspicions were confirmed. The quality was average to good but not outstanding. I had to say something as they was in my opinion asking £75,000 over the top. a total rip off and waisting thier own and everyone elses time. That was one and a half years ago when prices was only just starting to quiver. So i told her with a persuing argument that i believed the value to be no more than £275,000 giving her the benefit of the doubt.

After a couple of months the price was lowered to £300,000 and after another six months to £275,000. Now it is £265,000.

THE VALUE OF THIS HOUSE IS NOW £235,000. I AM NOT GOING TO SAY IN MY OPINION ANYMORE. I KNOW I AM RIGHT. I STUCK MY NECK OUT TO BE RUDE AND TELL THEM SO.

IT'S ABOUT TIME PEOPLE REALISED THAT THE VALUE OF HOMES ARE NOW AT LEAST 20% LOWER THAN THE REAL EXPECTED VALUE, NEVER MIND THE FALSE OVER PRICED VALUATIONS.

WHAT I DON'T UNDERSTAND IS WHY THE ESTATE AGENTS ARN'T GETTING TOGETHER TO FORCE PEOPLE TO LOWER THEIR PRICES OR GET OUT SO THAT THEY CAN SURVIVE. THERE SEEMS TO BE NO ONE WITH ANY COMMON SENCE ANYMORE.

THE MEDIA KEEP TELLING PEOPLE THAT HOUSES ARE LOSING ABOUT 2% A MONTH. WHAT CRAP, GET IN THE REAL WORLD. WHAT PROVES ALL THIS CRAP IS WHEN THEY SAY THE AVERAGE HOUSE SALE FROM PUTTING IT ON THE MARKET TO SELLING IS 10 WEEKS. I KEEP MY EYES ON THE HOUSES AROUND ME AND I HAVEN'T SEEN ANY SELL FOR TWO YEARS.

COME ON GUYS STOP ALL THE HOPE, THE HOUSING MARKET HAS TOTALY CRASHED AND THANK GOD I SAY, EVEN THOUGH I AM A HOUSE OWNER MYSELF.

BELOW IS THE LINK TO THE PROPERTY IN QUESTION

http://www.haart.co.uk/buying-house/Mapsea...ails_40354.aspx

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I noticed that a local EA has 5% Vendor paid deposit on many properties why not just knock 5% off asking price ?

Because by giving the buyer 5% "deposit" back in cash, it means the buyer can get a mortgage more easily even if he doesn't really have a big enough deposit?

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I have an interesting story to share. About two and a half years ago a couple of fat women purchased a four bedroom detatched house up the road from me for £182,500 pounds, which i thought at the time was very cheap. They paid a builder a massive £60,000 to strip renovate and finish to a suposedly high standard. So far the outlay is £242,000.

<snip>

I was disappointed to find out there was no significance in this anecdotal about the size of these women? <_<

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