You know that investment I was buying - I just got cold feet

Incisor

gallygirl wrote: »

Edit: DAMN YOU CONRAD !!!!

Master Bedroom 3.13m x 3.06m
Bah!

Jorgan_2

As some have said, well done for sharing it with us.

Amazing how quick things can change at the moment. If the builder accepts your £70k I'd be tempted not to proceed, it may only be a few months before everyone else can buy them for that level.

JayScottGreenspan

Conrad wrote: »

I paid the deposit this week and in my mind had exchanged contracts, howver 30 minutes ago I got cold feet and have withdrawn. Might proceed if developer gives me another big discount.

So my b@lls aren't as big as I thought they were

When do you think this market will hit bottom?

It takes balls to walk away from a deposit. A lot of people would chase the sunk cost and end up losing much more.

Well done for rising above it.

Conrad

No I have not lost my 10%, luckily the Solicitor had not got round to exchanging, despite it having been scheduled for this week, so I only lose a small sum on legal fees and some of the small holding deposit paid.

brit1234

Conrad wrote: »

The developer was selling them at £170 last year, £140 ish now (with scope down to £125 for people with large deposits) and eventually £87000 to me with cash, butttttttttt as an Maynard Keynes said (or was Adam Smith) I change my mind when the facts change.

The change in facts is that I found out today the developer is apparantly now really desperate so muting they will sell to people with a resaonable deposit for £95k (so Im thinking £90k).

In view of this Ive now offered £70k, which I think will be rejected.

I've never hid that fact that I'm at heart a bear in bulls clothing.
Finding very hard to committ, despite what Buffet says, mm:o

This is why we are on a cliff edge with massive price falls about to come. While most 2nd homes have fallen in price developers have tried to keep their stock price high. They have been playing a game of bluff over the last year spinning deals to keep the prices high. However with their levels of sales collapsing and their debts increasing. Eventually all are going to break and have to reduce their prices or face bankruptcy. This point is close and that is when we have the big falls.

pickles110564

brit1234 wrote: »

This is why we are on a cliff edge with massive price falls about to come. While most 2nd homes have fallen in price developers have tried to keep their stock price high. They have been playing a game of bluff over the last year spinning deals to keep the prices high. However with their levels of sales collapsing and their debts increasing. Eventually all are going to break and have to reduce their prices or face bankruptcy. This point is close and that is when we have the big falls.

Hello Brit where have you been?