We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Repossessed properties and what to offer in the current climate

13»

Comments

  • LisbonLaura
    LisbonLaura Posts: 1,121 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    OP, may I say this? - If you can change your mind set & see the last seven years as a lunatic property credit binge & that now the hangover has only just started, then you might begin to get the full sorry picture.
    We are returning to sanity, which means the value of a property will in most cases more than half; & even then many will be difficult to shift. FACT.
    What should you offer? - Nothing. Go & rent for at least two years.
  • LisbonLaura
    LisbonLaura Posts: 1,121 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I didn't mean to kill this thread :(

    Honest I didn't :(:(
  • mrsjanejane
    mrsjanejane Posts: 169 Forumite
    I offered £180k today, so will see what happens
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    £180k???

    Did you know that from tomorrow, there is no stamp duty payable under £175k?
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    withdraw the offer and say new offer is 174950 and not a penny more because of stamp duty changes that affect property valuations. i bet ur mortgage providers valuer will agree as well
    bubblesmoney :hello:
  • Catti
    Catti Posts: 372 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    neverdespairgirl wrote: »
    £180k???

    Did you know that from tomorrow, there is no stamp duty payable under £175k?
    over £175K to be precise..... :o
  • GDB2222
    GDB2222 Posts: 26,556 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    bubblesmoney wrote: »
    withdraw the offer and say new offer is 174950 and not a penn more because of stamp duty changes that affect property valuations. i bet ur mortgage providers valuer will agree as well

    She's not listening. Not sure she ever was, tbh.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • mrsjanejane
    mrsjanejane Posts: 169 Forumite
    I was aware of Stamp Duty and offered £175. They turned it down. However they have just dropped(17k) the property to £203 today on Rightmove. Interesting, I left my offer with them for two weeks anyway, so we shall see

    GDB2222 (She's not listening. Not sure she ever was, tbh) I don't understand this comment about not listening, what/who are you referring to?:confused:
  • khalidi65
    khalidi65 Posts: 1 Newbie
    Estate Agent advertised a repossessed property for 192500. I made offer of 175000 which was rejected by Bank as per EA. I increased offer to 180000 but she suggested me to increase it to 185000 if i need property. I increased it and next call was that offer is accepted and paperwork started like statements, mortgage,solictots etc. Next morning she calls and tell she has a cash buyer with higher offer which she cannot disclose and suggested that if i go to full asking price i will get it. I was fool to increase it on phone. After 2 hours she calls that other party has gone little up, i should go to 195000 to finish the matter. I realised the catch that she is playing nerves game. Is it legally allowed that EA can increase price wiyhout some other party existing in actual. Can I sue the EA for playing. Is there a way to find out what was actually happening. Please help me and advise.
    THANKS
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    1,000 Posts Combo Breaker
    If its a repossed property then the accepted offer will have to be advertised, so you could not increase your offer and wait to see if this is indeed the case, you could then if you want put in an increased biid, but they may not change buyers at this stage.
    I would never have lied about offers, but I cant speak for this EA.
    Pawpurrs x ;)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture