1000's of cheap homes coming onto the market very soon

bing0

It's now only a matter of time before buyers with negative equity start realising they're in a no win situation.A sad situation that I wouldn't want to be in..............BUT

I do hope through all this I find a property at a bargain price !

My plan over the next several week is to put VERY low offers on lots of property,it has to be just a matter of time before one caves in (fingers crossed)

Have a nice day

Squish_21

Im alright Jack!

abaxas

Squish_21 wrote: »

Im alright Jack!

Kettle / Pot etc.

We are all like that, happy to take from others providing we dont get to see it happening. Eg food, clothes etc.

If we are all at it, we are in no position to complain.

1984ReturnsForReal_2

abaxas wrote: »

Kettle / Pot etc.

We are all like that, happy to take from others providing we dont get to see it happening. Eg food, clothes etc.

If we are all at it, we are in no position to complain.

I am not like that.

I grew out of it about 10 years ago.

ILW

Its only the idiots that overpaid because Kirsty told them to, or that borrowed against their home that are in negative equity.

Wig

It is ok to be alright Jack! I have been looking to buy for 3 years now, I always thought the prices were too high, I was sure they could not be sustained at those levels, and I was sure I would be stupid to offer anywhere near the asking price. I did make offers on some houses during the 3 years, but if they did not take my low offer I walked away, and kept waiting with my money in the bank, waiting for the inevitable crash.

Other people who decided to buy, have only themselves to blame for their misfortune. Sellers should consult the Nationwide calculator (which is regional) to find out what their value is today, and buyers should offer no more that the Nationwide calculator says it's worth. And that's before deciding if you think prices are yet to fall more, and to build that into your offer.


If previous buyers want to blame anyone, they should blame the laws of this land which should be more like USA when it comes to defaulted home loans, in USA the owner walks away from the property and owes the bank nothing, the bank takes the loss. Which should theoretically make the banks much more reluctant to lend on property, I think it would be a good thing to introduce in the UK now that the banks have been burnt by the credit crunch.

ukcarper

If you are happy where you are and can afford the mortgage but are in negative equity why would you want to sell.

Graham_Devon

So all the people who needed a home and couldnt wait, who have been caught out, are simply idiots?

Idiophreak

ukcarper wrote: »

If you are happy where you are and can afford the mortgage but are in negative equity why would you want to sell.

Good question.

Don't see why these people are in a "no win" situation - they can just ride this out and wait for prices to recover?

silvercar

bing0 wrote: »

It's now only a matter of time before buyers with negative equity start realising they're in a no win situation.A sad situation that I wouldn't want to be in..............BUT

I do hope through all this I find a property at a bargain price !

My plan over the next several week is to put VERY low offers on lots of property,it has to be just a matter of time before one caves in (fingers crossed)

Have a nice day

If you are aiming your offers at sellers with negative equity, you will waste your time and possibly waste your money. Any seller with negative equity can't sell without paying off the negative equity so the sale won't proceed.

1984ReturnsForReal_2

ILW wrote: »

Its only the idiots that overpaid because Kirsty told them to, or that borrowed against their home that are in negative equity.

Alot of them idiots needed a house..



You know.... One of them things to live in.