Repo - suspect foul play (again)

flea72

Milliewilly wrote: »

Was prepared to go to £195K anyway but I don't do sealed bids on principle so may tell the EA that's the final offer if they go to sealed bids then I withdraw my offer.

why not go to sealed bids?

tbh, with a repo, sealed bids is how it goes 90% of the time, as the mortgage company has to show they are doing their best to recoup monies owed

i would be inclined to put in the same low offer, there is nothing to say you cant come back with a higher offer, even after the bids have been aired. as most people assume sealed bids is final, the estate agent usually declares the true top offer (rather than the fictitious one they use as marketing ploy) - ok this then means you can counteroffer, and you could get into a haggling situation with the other parties, but at least you know whether you stood a chance or not

also if its a repo, you have to pull your finger out, and get the balls rolling quickly as the longer you take to complete, the more chance there is for other parties to start putting in offers

F

Wee_Willy_Harris

Milliewilly wrote: »

Hello Willy Stalker - I've only been back on the forum for a few days, didn't take you long to start having a dig did it?

If you believe what people say on this board £150K cash is a good offer if we are entering property armageddon - the public sector, the quantitative easing - I can hear the cries now......

How is a £190K offer with proof of cash twatting them about? Not jealous are we Wee Willy????

I don't know where you get this impression that I have any personal feelings, positive or negative, towards you. I can assure you that my replies are decided on the basis of an individual post, not an individual poster. Many on here will tell you that I have disgreed with them on some posts and thanked them on others. Why you would think that you are any different to the rest is a mystery to me.

As for jeasousy? Not at all. You have, in your OP and other posts, indicated that you are struggling to buy a property. I was merely expressing, on a public forum, my thoughts as to where you might be going wrong. You are, of course, free to ignore that opinion and carry on as before. That is your free choice. But as you seem unable to buy, with cash, in what is a buyers market, perhaps a re-think might be in order.

HINT: £150k isn't a good offer when there is £193k on the table.

Wee_Willy_Harris

Milliewilly wrote: »

WeeWilly If you bother to read my initial post properly before your poor attempts at humour the £193K offer was not proceedable that is why the house had been put back up for sale . On Friday when I offered £150K there was no other offer. Hope that clarifies things for you.

And, once they'd stopped laughing, your offer was rejected. Of course, you're convinced it must be some sort of conspiracy.

Milliewilly

Wee_Willy_Harris wrote: »

I don't know where you get this impression that I have any personal feelings, positive or negative, towards you. I can assure you that my replies are decided on the basis of an individual post, not an individual poster. Many on here will tell you that I have disgreed with them on some posts and thanked them on others. Why you would think that you are any different to the rest is a mystery to me.

As for jeasousy? Not at all. You have, in your OP and other posts, indicated that you are struggling to buy a property. I was merely expressing, on a public forum, my thoughts as to where you might be going wrong. You are, of course, free to ignore that opinion and carry on as before. That is your free choice. But as you seem unable to buy, with cash, in what is a buyers market, perhaps a re-think might be in order.

HINT: £150k isn't a good offer when there is £193k on the table.

HINT 2: £193K was non proceedable when I offered and not cash either........

Milliewilly

Wee_Willy_Harris wrote: »

And, once they'd stopped laughing, your offer was rejected. Of course, you're convinced it must be some sort of conspiracy.

Well having an internet stalker has made me paranoid.

Wee_Willy_Harris

Milliewilly wrote: »

HINT 2: £193K was non proceedable when I offered and not cash either........

HINT: Your a cash buyer in a buyers market. If you can't even buy under those conditions, maybe you should review your methods. Seems fair enough to me.

Running_Horse

Milliewilly wrote: »

If you believe what people say on this board £150K cash is a good offer if we are entering property armageddon - the public sector, the quantitative easing - I can hear the cries now......

Why would you believe the lunatics who inhabit this and the house price board? They either have an agenda or have never bought a house, or both. Or possibly we are just bored and enjoying telling it like it is. £150,000 is a completely stupid offer when trying to persuade a vendor you are serious.

Ask yourself, is your failure to buy a house some kind of conspiracy? Or are you not matching your competitors? Of course it could just be you don't really want to buy a house at all, so make silly offers knowing they will be rejected.

Milliewilly

Running_Horse wrote: »

Why would you believe the lunatics who inhabit this and the house price board? They either have an agenda or have never bought a house, or both. Or possibly we are just bored and enjoying telling it like it is. £150,000 is a completely stupid offer when trying to persuade a vendor you are serious.

Ask yourself, is your failure to buy a house some kind of conspiracy? Or are you not matching your competitors? Of course it could just be you don't really want to buy a house at all, so make silly offers knowing they will be rejected.

I never expected the £150K to be accepted as I put in my first post with the smiley but £190K for cash considering the state of the property is a very good offer imo. At least my £150K was proceedable. Anyone can offer what they like but unless they can act on it they may as well not bother.

There are many posts on here about offering 20% less as a first offer and that's not people who have cash. Call me old fashioned but I consider a cash offer to be worth more than a mortgage offer.

Doozergirl

Milliewilly wrote: »

I never expected the £150K to be accepted as I put in my first post with the smiley but £190K for cash considering the state of the property is a very good offer imo. At least my £150K was proceedable. Anyone can offer what they like but unless they can act on it they may as well not bother.

There are many posts on here about offering 20% less as a first offer and that's not people who have cash. Call me old fashioned but I consider a cash offer to be worth more than a mortgage offer.

I wouldn't consider offering 20% below if it were fresh to the market. It is a repo and therefore there's no one to offend when you make the offer which makes it a lot easier to offer low.

But on a personal level, cash is not worth anything more to me than a chain free offer; verified with a sensible deposit then I'm more than happy with that. There was a bit of a poll on here not so long ago and a lot of people said that it wouldn't make much diffference to them either. We're talking about a lot of money. I wouldn't drop my pants just because someone has cash!

Do be careful about taking things too literally on here. Running Horse is correct in that some of the more gung-ho or extreme suggestions do come from people who aren't in the market to buy a property and sometimes never have been. I wouldn't think to offer advice on something I'd never done before!

But I'm not here to knock you at all, just offering a wee bit of a reality check. Of course there's nothing wrong with your £190k offer even if your £150k was a wee bit optimistic! And you are having a nightmare with the repossessions which no one deserves.

Milliewilly

Doozergirl wrote: »

I wouldn't consider offering 20% below if it were fresh to the market. It is a repo and therefore there's no one to offend when you make the offer which makes it a lot easier to offer low.

But on a personal level, cash is not worth anything more to me than a chain free offer; verified with a sensible deposit then I'm more than happy with that. There was a bit of a poll on here not so long ago and a lot of people said that it wouldn't make much diffference to them either. We're talking about a lot of money. I wouldn't drop my pants just because someone has cash!

Do be careful about taking things too literally on here. Running Horse is correct in that some of the more gung-ho or extreme suggestions do come from people who aren't in the market to buy a property and sometimes never have been. I wouldn't think to offer advice on something I'd never done before!

But I'm not here to knock you at all, just offering a wee bit of a reality check. Of course there's nothing wrong with your £190k offer even if your £150k was a wee bit optimistic! And you are having a nightmare with the repossessions which no one deserves.

Thanks for the sensible comments.

My offer was also unconditional ie no Survey or last minute re-negotiations and completion within 24 hours of my Solicitor receiving the necessary paperwork from the Vendor's side so in summary I certainly don't think £190K is bad.

The house isn't fresh to market its been up a while but was 'sold' to the unproceedable £193K'er.

People seem to have politely ignored that the previous owner has smeared his excrement all over the carpets and some walls, kitchen bathroom, en-suite all smashed, garden been left to ruin for 4 years - £150K isn't so bad under those circumstances!!