Estate agent here, please feel free to ask me anything. Im happy to help :)

princessamy86

Sorry enemies, I'm in North West England and I think Leanne is Bristol

Enemies.Closer

princessamy86 can I PM you?

EagerLearner

Here's a tricky one for leanneslow and princessamy - if the situation arises, what is the best way to let an estate agent down gently on an agreed purchase (property A, small 3 bed terraced) due to another property B being better sized 2 bed & better area (no valuation or survey carried out yet)?

In addition, if the last similar sale on the street was many many years ago, on what basis might the EA have valued the smaller property A - nearby streets? We had always considered it quite high but we're too naiive to know better!

gabyjane

Hi not sure if you can help or not just a curious question really between me and dh who are disagreeing over it!

We live on a 2 year old estate of mixed houses, flats, etc the propertys are Shared ownership (ours is this) bought on the open market and HA..

Ours is a town house..2 beds, garden, garage, parking etc it is on a nice quiet rd, near a bus stop! nearish to town (depending on how lazy you are!)

now this is where the questron is!

There is a house very near us (kind of behind) which is for sale, it's identical but a private one..sold for over £170k when we bought ours, (ours was £153k)..the argument i have is the fact that this other house is smaller in spec than ours, the kitchen has a fitted cooker with hob above but other than that inside the same..it is opposite a park which is full of kids most nights..other than that it is exactly the same..
SO! why is that one more than ours?
Sorry may be a dumb question to most on here but i am not that clued up on house prices..the way some are valued by us baffles me so just wondered but we are talking quite a big difference!
Thanks

dacouch

Do you still all model your self on Bexxy

chewmylegoff

EagerLearner wrote: »

Here's a tricky one for leanneslow and princessamy - if the situation arises, what is the best way to let an estate agent down gently on an agreed purchase (property A, small 3 bed terraced) due to another property B being better sized 2 bed & better area (no valuation or survey carried out yet)?

In addition, if the last similar sale on the street was many many years ago, on what basis might the EA have valued the smaller property A - nearby streets? We had always considered it quite high but we're too naiive to know better!

why do you need to 'let them down gently' just ring them up and say you're withdrawing your offer. it doesn't really make much difference what you say to them, they will still view you as potential timewasters if you try to buy through them in the future. might as well just tell them the truth that you've found a better property, after all i think you'd find that they wouldn't be letting you down gently if they suddenly find a better buyer.

Tiddles12

Hi Leanne

I am near exchange on a leasehold flat and saw my solicitor today to go through some of the details. When I viewed the flat (twice) the vendor told me that the service charge was £800 and the ground rent was £100. I can't say 100% that he said 'annual' but I'm pretty certain he did. The estate agent also quoted me the same figures.

Anyway my solicitor urged me to check this as the figures he had indicated that the charges were per every six months so I called the leasehold company and they confirmed that the service charge is £800 per six months and the ground rent is £50 per six months. I'm fuming as this is the latest in a line of things I feel I have been misled over - and had I known the true annual cost this would've affected my initial offer price.

So my question to you is: In your opinion, if an agent states the service charge of a leasehold is £800 would the buyer be correct to assume this meant per annum? Or are these figures normally quoted per six months and I should get off my high horse?!

Thanks

princessamy86

Enemies.Closer wrote: »

princessamy86 can I PM you?

sure you can pm me no problem

princessamy86

EagerLearner wrote: »

Here's a tricky one for leanneslow and princessamy - if the situation arises, what is the best way to let an estate agent down gently on an agreed purchase (property A, small 3 bed terraced) due to another property B being better sized 2 bed & better area (no valuation or survey carried out yet)?

In addition, if the last similar sale on the street was many many years ago, on what basis might the EA have valued the smaller property A - nearby streets? We had always considered it quite high but we're too naiive to know better!

Have to agree with chewmylegoff, don't worry about letting them down gently it happens all the time.

Smaller property probably valued on comparables from nearby streets and the EAs local knowledge. 2 bed terraces round where I work fetch a certain amount of money for certain areas, they tend to be fairly easy to value.

princessamy86

There is a house very near us (kind of behind) which is for sale, it's identical but a private one..sold for over £170k when we bought ours, (ours was £153k)..the argument i have is the fact that this other house is smaller in spec than ours, the kitchen has a fitted cooker with hob above but other than that inside the same..it is opposite a park which is full of kids most nights..other than that it is exactly the same..
SO! why is that one more than ours?
Sorry may be a dumb question to most on here but i am not that clued up on house prices..the way some are valued by us baffles me so just wondered but we are talking quite a big difference!
Thanks

Depending on percentages, could it be that the more expensive one was sold for 100% ownership? Or maybe you're just better at negotiating!