Tuesday, October 16, 2007

It is a buyers market. Ah ah aha ha hah

Held to ransom

Ruthless buyers are lowering offers at the last minute. sellers’ hands are tied. A reader: "I find the current system astonishing as we have had two sales fall through due to buyers poor behaviour. As a result we have incurred expense & anguish, as have others in the chain. The law needs to be changed so that, once an offer is made & agreed through survey, that offer is legally binding on the buyer & the seller" Ah ah aha haha hah ahah ahaha hha ah

Posted by confused76 @ 02:37 AM (1531 views)
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8 thoughts on “It is a buyers market. Ah ah aha ha hah

  • “Money has become more cautious” apparently. What on earth is that supposed to mean ? I am not an economist or financier, but people buy the house with the money, not the other way around. The article goes on to discuss a house at £3.2m, which is a very poor example, out of the reach of all but a very few. Taking a conservative view, this house has probably achieved a supposed increase in value of 10 or 12% in the last year, so God forbid, a £100,000 discount is fairly trivial. Welcome to the real world Mr Seller. Had the vendor any experience of selling in the real world of industry, which I do, he/she would know that this kind of thing happens every day. To sell, you have to compete. It is not a free ride, where you can achieve what you want without any effort. Kirsty and Phil take note. Houses are not in fantasy land any more. They are in the real world. The “property game” which many like to play is not one sided any more. Do not take the bat and ball home when the game is not played to your rules or to your liking.

    Interesting to note the section “People think that prices go up over time, but they aren’t going up. They are staying flat. It will take until the new year for asking prices and achieved prices to get back in line.” This shows the arrogance of Mr Bailey. In real world sales, we tend to refer to the D-word and heaven help us, the F-word. Mr Seller, and Mr Bailey, the D-word is Discount which you are often asked or pressurised into giving to make a sale. The F-word, which I have had used at me a few times is Free, where you give something for nothing. Mr Seller, Mr Bailey, budding tycoons et al. Welcome to the real world. We are so happy you have come to join us – at last.

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  • Hold on, wasn’t gazumping a common practice up until recently?

    How is this any different?

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  • The revenge of the buyers!! I agree if it works both ways.

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  • I can’t think of anything particularly intelligent to say about this bias moron, other than “diddums”

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  • I agree with Si. Sellers seem to think it is ok for buyers to be gazumped but not for sellers to be gazundered – that’s a free market for you…just tough isn’t it.

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  • Friends just decided to put their 2 bed London flat on the market. Told by Douglas & Gordon agent “it’s a buyers market”.

    This seems to conflict with recent press articles where “London prices are surging up”.

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  • People need to grow up. Quickly.

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  • None of the people complaining about this would have thought twice about taking money from a gazumper a couple of months ago. The greed in this country is disgusting – it seems the housing market is turning into one big lesson in the beauty of Karma.

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