Why is....

walkingbootweather

davis wrote:

GTV, you're always writing "allot" when you should write "a lot". E.g. "a lot of money".

There. I've said it. It's been bugging me for ages. /grammarnazi

Quite right, you should a lot blame where it's due

veronese68

I like this thread. We've lived here for 17 years and 4 days. I have no wish to move. I am really and truly thankful.

pinkbikini

gtvlusso wrote:

I now have another interested party who want to bring a builder and scope out for a loft conversion and adding an extension - she wants planning permission in place before she buys......WTF?!

So you're selling the house without necesary permission for what she wants. So what? That's not part of the advertised sale of a house and it's her responsibility. If she wants you to wait for her to obtain necessary permission (as stated previously, it might be permitted dev and not PP anyway) tell her to put down a non-refundable deposit. Or my option would be - tell her to act like a grown-up!

I think selling houses is a higher-stakes version of eBay selling. The more questions someone asks, the less likely they are to offer and then purchase. I've sold only 1 SWLondon house, but to a buyer who was so uncomplicated and made a decent second offer (after initial slightly cheeky offer), so maybe I've been lucky. With the eBay analogy, I've sold 100s of items, but never once sold an item to a potential buyer who's asked a question. Buyers who want you to march to their tune aren't serious. Learning to avoid time-wasters is a really useful skill that I'm slowly learning at 43yrs old!

itboffin

You have disclosed the secret sex dungeon and the gimp box haven't you?

Don't make the same mistake twice :roll:

TheStone

pdw wrote:

93% of value, as mentioned previously, seems fair.

... but it's not 93% of value! It's 93% of asking price which is an arbitrary amount cooked up by a seller and an estate agent, both of whom have an interest in a high valuation.

And don't underestimate how much these numbers have diverged.

To take SW London, although sold prices are still creeping up, they now have very little relation to asking prices, which have gone up much more.
September:
2006 - 89.3%
2007 - 87.5%
2008 - 81.9%
2009 - 74.7%
2010 - 81.8%
2011 - 76.3%
2012 - 68.7%

There's no mix adjustment and there's a lag (of about 3 months on the sales side) that I've not taken into account, but the numbers are staggering none the less.

All the numbers are here: http://www.home.co.uk/guides/house_pric ... y=londonsw

rjsterry

Interesting as all the stuff about SW London is, and the London property market really is proper through the looking glass stuff, Gtv hails from the north Bristol suburbs, so I'm not sure how relevant it is.

Rigga

OP, get it rented out, i have for 3 years now and have basically had my mortgage paid for me whilst living with the GF at her house. I would advise on using a letting agent as they do vet the tenants and check there finances and credit history etc so worth it IMO. Once you're comfortable with your tenants after 12 or 18 months you can let the agency go and pocket the extra cash.

rjsterry

Rigga wrote:

OP, get it rented out, i have for 3 years now and have basically had my mortgage paid for me whilst living with the GF at her house. I would advise on using a good letting agent as they do vet the tenants and check there finances and credit history etc so worth it IMO. Once you're comfortable with your tenants after 12 or 18 months you can let the agency go and pocket the extra cash.

Ftfy.

Some don't seem to want to do a nothing for their fee beyond pass on messages. If you're the other side of the country as Gtv will be, then you want them to sort all the stuff like heating maintenance and repairs, rather than trekking up and down the M4.

Rigga

rjsterry wrote:

Rigga wrote:

OP, get it rented out, i have for 3 years now and have basically had my mortgage paid for me whilst living with the GF at her house. I would advise on using a good letting agent as they do vet the tenants and check there finances and credit history etc so worth it IMO. Once you're comfortable with your tenants after 12 or 18 months you can let the agency go and pocket the extra cash.

Ftfy.

Some don't seem to want to do a nothing for their fee beyond pass on messages. If you're the other side of the country as Gtv will be, then you want them to sort all the stuff like heating maintenance and repairs, rather than trekking up and down the M4.

Fair comment, although it can be the luck of the draw with them.

First.Aspect

We just bought a place for £10k under asking, which had already been lowered by £20k. Buyer's market.

Sell and move on - a bird in the hand is worth two bushes. When you put a house on the market the swarm of people looking for similar houses in similar areas descend and then it can go quiet. Beware.

The process as a whole is torture. Getting US citizenship is easier than getting the paperwork done for a mortgage these days. Its not that they ask diffisult questions, just a lot of them (or should that be "allot"?). They seem to take the confetti apprach to risk reduction, still without any real focus on "can you pay" or not. And computer says no. At all times.

And estate agent solicitors are in a tough and relatively thankless game. Firstly it must be boring as all hell. Secondly you are dealing with stressed out people all the time. Thirdly the margins aren't great so to fund the partners' lifestyle, the guy you actually talk to is paid about as much as a social worker. Fourthly ,its really not what you had in mind when you were taking the international law module at university. Complaining about conveyancing solicitors is like complaining about the quality of trim in your new Fiat. What'dya expect?

gtvlusso

Buyers market my a$$....

We have 2 offers at the asking price; we have accepted the proceedable offer; however, the non-proceedable offer are wanting to offer even more....which is silly money for the house.

Time is a factor for us and we need a speedy transaction, hence going with the proceedable offer, it also has the advantage of cash and no chain!

DrLex

gtvlusso wrote:

[...]

Time is a factor for us and we need a speedy transaction, hence going with the proceedable offer, it also has the advantage of cash and no chain!

Cash is king; fingers crossed for you. Had two agents around yesterday - valuations are 6 figures apart- wut?

rjsterry

DrLex wrote:

gtvlusso wrote:

[...]

Time is a factor for us and we need a speedy transaction, hence going with the proceedable offer, it also has the advantage of cash and no chain!

Cash is king; fingers crossed for you. Had two agents around yesterday - valuations are 6 figures apart- wut?

True, although make sure it is actually cash.

£100K+ difference? Do you think it's an unusual property (i.e. nothing comparable to base estimate on so anybody's guess) or just a duff valuation. Either way you'll obviously need a third valuation before telling the wildly inaccurate agent to jog on.

gtvlusso

Whoa - 6 figure difference.....

We had 2 valuations, both exactly the same.....

I went with the Agent where the girl had nice legs.....

Here endeth the chauvinism....

Right - docs now at solicitor.....Will be in Uxbridge next Friday, searching for a rental!

DrLex

Third chappie due out this arvo; no doubt he'll split the difference and become the Goldilocks choice. Top-end bloke took a lot of interest in my bike, so not withstanding greed element, I'm favouring his mob.

clarkey cat

if people are coming in at valuations £100,000 apart on a property in Somerset you must own Babington House.