Buyers to pay for sellers debt

ess0two

bing0 wrote: »

As a FTB on the look-out at the moment,I'm trying to factor in my workings out the % of debt ,sellers in general, add on to their selling price,on the hope buyers will ease their debts......

Realistic pricing sells a property,but still I'm coming across properties that are well over priced,with major works needing to be done.Even given the bottom selling price these sellers are willing to accept,makes me believe that some are factoring their borrowing,on the value of their property.

It seems that instead of biting the bullet and reducing their liability,they (the sellers) think that someone is going to come along with a big magic wand (an offer at an unrealistic asking price ),and eleviate all the debt.

No one knows what the future holds,but on my assumpion of house hunting in the last week,it doesn't look good.

I cant believe that estate agents still come up with what sounds complete bullsh*t about other buyers going for the same properties,low and behold,there on the phone a few hours later, asking if you want to put an offer in..........this isn't a game,its so sad they think everyone is thick !

I will keep looking,but it doesn't help me decide what to do when you're faced with a false package from the start.If it all feels right from the offset,it makes me feel better.

Sellers must realise ,it's not for potential buyers to pay their debt.

Alternatively find property suitably priced within your range.

PayDay

Some people don't like to believe the value of their house has decreased. It's a human trait.
Although houses have dropped in price, some will still think their house hasn't because it is near good schools/in a good area/there is a housing shortage/they have the best house in the road.

StevieJ

PayDay wrote: »

Some people don't like to believe the value of their house has decreased. It's a human trait.
Although houses have dropped in price, some will still think their house hasn't because it is near good schools/in a good area/there is a housing shortage/they have the best house in the road.

And some others believe the tripe on here and want 50% off

mewbie_2

ess0two wrote: »

Alternatively find property suitably priced within your range.

Wise words from our resident Shaman.

FoxtonsRIP

bing0 wrote: »

.


I cant believe that estate agents still come up with what sounds complete bullsh*t about other buyers going for the same properties,low and behold,there on the phone a few hours later, asking if you want to put an offer in..........this isn't a game,its so sad they think everyone is thick !
.

Not so long ago I enquired about a property that had been on the market for 18 months. Amazingly the estate agent claimed that there had been a recent surge in interest in it and that I "had better not hang about." :rotfl:

FoxtonsRIP

Ems*Honie wrote: »

If the estate agent didn't market the house and make full attempts to sell then they wouldn't be doing their job, and if they didn't inform you of other interest.

Or even better invent that 'other interest'

Thrugelmir

Jonesya wrote: »

But it is a game because it is the job of the estate agents to get the highest price and creating a false sense of demand/shortage/competition is an aid to achieving their goal.

On the plus side you now have more tools available to gauge the real level of competition for the place and suitable price level - online house price registry, property bee etc.

I wouldn't regard an estate agents job as a game. A good estate agent ( I found a professionally run agency some years ago and have used them on 4 seperate occassions to sell), will bring together both buyers and sellers. More than anything they weed out timewasters.

The selling price is set by the vendor not the estate agent.

Houses differ enormously internally. The old adage never judge a book by its cover. So although land registry is a guide. If you haven't properly viewed a property the selling price alone shouldn't determine the price of similar properties.

ess0two

mewbie wrote: »

Wise words from our resident Shaman.

Dunno whether thats an insult or a compliment,lol.

My BIL is still looking to buy in area thats down 20% tops, he seems to think that offering 190k on 250k is sound,maybe so.But so far he aint had much luck.
The SIL tells the misses their max is 190k,i make 230k his limit for potentially getting a property.

Ems*Honie

FoxtonsRIP wrote: »

Or even better invent that 'other interest'

Maybe, maybe not. I lost a house because the vendor neglected to tell one of his estate agents that he was considering an offer from some one else, through another agent. I wasted two viewings and the time debating/working out finances etc inbetween.

I would have been livid if the estate agent had been aware of the other party.

Broken_hearted

If we were to sell our house we would want the maximum we could get for it. Of course course buying is a game with the buyer trying to get it cheaper and the seller trying to get as much if not more than they are asking.
Would you expect to buy a house for a £15,000 because that is all the owner paid for it or free because the owner has no debts. No you would pay the asking price if you wanted it, if not look elsewhere.