Moving Home - Zoopla Hurts!

casper_g

I'm house-hunting at the moment. I look at rightmove first, and last. I only contact EAs to arrange a viewing on something I've already seen on rightmove, driven past on Google Streetview, and checked out on zoopla (for the last sold price/date). That said, several of the EAs have provided a useful service to me and to their clients by persuading me to do viewings on other houses I might not have bothered phoning them about. After all, if I'm already leaving work and driving across town to meet an agent for a viewing on one place I might as well poke my nose into the one in the next street while I'm there, right?

adami1000

In the old days you just asked a few agents for a valuation and then chose the biggest. Reading all you concerns and reading between the lines I'v come to the conclusion you may as well sell you flat your self in the very old fashioned way of putting it in your local newspaper.

My reason is that given all the stress your giving yourself worrying about online valuations you may as well move any prospective buyer away from the big online sites that you think will do you so much damage !

Getting to talk directly with buyer that are interested in you flat will give you a real feel for the way people feel about the value your flat represents to them.

If you still need online pictures of your property you could use a website like seeitonthenet that link you newspaper ads to pictures you put on the web.

The other point is that selling yourself will save you a lot of money which will help make up for any short fall you may get!

Spartacus_Mills

HJS86 wrote: »

zappahey, chambta is correct, the other flats were purchased as a job lot by Bromford Housing who now rent them out for approx 500 a month. Were the only one in the building who purchased.

So you are the only owner/occupier.

Ouch.

That has got to hurt.

HJS86

Hi all

Just a little update for those who are interested in on going stories!

We have reduced twice now, not much at all, but based on our calculations we can now let the flat go for £75,950 without stepping into negative equity.

We know were still not gonna sell at that, but at least were only £950 away from the highest valuation we had from the Estate Agents!

We've redecorated the bathroom from blue to a neutral cream.

http://www.rightmove.co.uk/property-for-sale/property-33428201.html

HJ

Caveat_Mortgagor

HJS86 I feel for you, I really do.

Hasnt something struck you as wierd? I am talking about the fact that you got a mortgage for £51k and the rest was a govt assistance scheme.

And that £51k figure exactly matches how much someone has paid to buy all the other units.

Many people have complained for a long time that homebuy is not a means to help first time buyers, but more accurately a way of helping builders to get a higher price out of ftbs.

It would be worth contacting some financial journalists and explaining your situation. In fact there is an organisation called http://www.pricedout.org.uk/ who are a pressure group for first time buyers. they will have access to media contacts to get your story heard.

It might not make a difference to how much you owe and how much your flat was ever worth, but you could help ensure that others do not get suckered in the same way.

If you ask me, the government (thats both red and now blue) have always been in the pocket of big business at the expense of the little guy. Thats why the new govt have recently thrown a lot of money at an initiative called 'firstbuy'. Aimed at first time buyers and only gives financial help if you are buying from a housebuilder.

It all stinks. I think you have been robbed blind by politicians and big business. The builder gets his inflated asking price and the lender isnt exposed to the full amount you have borrowed - nope, the taxpayer is exposed!!!!

Get somone to speak up for you and prevent this happening to others!

rinkydinkpanther

You have my sympathy. Realistically you're going to be stuck with that flat for a long time.

Even if by some miracle you manage to sell it at a level which avoids negative equity, what are you going to use for a deposit for your next home?

HJS86

Caveat - never really looked at it like that before. It does make a lot of sense.

Rinky - we have £6,000 saved for a deposit. Nationwide have told us that they will let us port our great current rate on the £51k over and then all we need is a 5% deposit (the £6k as were hoping to buy for around £122k) instead of the 10-15% that other lenders are asking for.

Really hoping we'll be able to sell next summer, if not then, then the year after. Will be gutted if were here longer than that as we really do want a family. I know others have suggested trying whilst in the flat, but I really don't think we'd be able to cope without more space.

Thanks

neverdespairgirl

HJS86 wrote: »

I don't think we'd cope raising a baby in this apartment as much as we love it. I guess we're quite old fashioned, but both picture a little nursery with teddy bears etc rather than a crib pushed up against the wall as we can't get to the bed!! Ask again in 2 years if were still here...lol

We had our son 6 years ago in a flat - albeit, bigger than yours. And we've just bought our first flat (previously renting) although that has a garden.

Babies don't take up that much space, and the first 6 months at least will probably be in your room anyway.

ceridwen

HJS86 wrote: »

firsttimetom - thanks for your advice. We were concerned when we found out that the others had gone for 51k, but they weren't private sells so didn't think it would make so much difference as it wasn't a 'normal' set of sales if you get me?

I follow where you are coming from - ie "They were a bulk buyer - so they got a bulk discount on the places".

But - to me - it looks as if other buyers will discount that the cheaper price was down to it being a bulk discount - they will want that price too (or not much more than....). Okay - they are being unrealistic on that front BUT what they WILL be aware of is "Oh...if buy OP's flat it will now be amongst a lot of public sector flats - so I want the same discount (maybe an even bigger discount) to allow for so many of the neighbours now being public sector.

HJS86

Its really hard to stay positive!!

HJ x