Get ready for Capitulation....Fear is here, people will start to accept lower prices

phil_b_2

mbga9pgf wrote: »

We got outbid by 30K. Unfortunately, the other party had a chain as long as a giraffes neck and the asset management firm didnt want to risk it (I believe) as it was the week of the general election.

Lots of things went in our favour that normally wouldnt. The surveyor valuation came in well over our offer too, which was a nice independent confirmation of the bargain we got.

Yea fair enough. I was just thinking that whatever price anyone pays for a property under normal bidding conditions IS the market value, it must be. Saying they got a bargain etc is an odd thing to say if you catch my drift.

Obviously you pounced on an opportunity which doesnt come along often and paid less than what can be expected. That's sort of what I was trying to do for the 1-2 years I was hunting but in the end found the perfect house and just paid what it was worth (at the time).