Vendor asking for a lot more than the advertised price

poppysarah

The_Palmist wrote: »

Its a big investment and you can use all the advise you can get. They advertise £25K below Vendor's expectations but when you actually decide to make an offer, turns out they want more....I never understood what happens to the massive discount.

We viewed one with this lot and they wanted a quick sale ... Went to another EA after it got repoed.


What's the pipe out of the floor in the reception pic?

Taz_Sutton

jayphe wrote: »

Nice place, 40,500 was 2002 price, lots of Greater Manchester going for 2003-2004 prices, would indicate around 60,000-70,000 if the street is mostly the same layout. It's an end terrace, not a semi, doesn't add a massive premium over standard terrace and some people actively avoid them..........you could get for around 75k, they're going quick though which you can check if you get hold of PropertyBee (google it).

Thanks for this Jayphe, I've just downloaded propertybee to my taskbar so hopefully it should help us a bit. We reckon we can afford to look at places around 75,000 so we've lined a few up to look at next week. Also can I ask why do some people actively avoid end of terrace does it make a big difference?

Palmist, i don't get where the discount is either, if that's what they want it's never going to be a discount is it!

PoppySarah I don't remember seeing that when I looked round, but the radiator was on the opposite wall and I get a feeling that the pipe is where it used to be.

We've also realised we didn't see any radiators upstairs, so that would need possible doing.

Thanks Again everyone

SG27

Taz_Sutton wrote: »

Hi,

My partner and I are first time buyers, we've got a mortgage in principal and have been to look at a few properties one of which was listed as £69,950.

We go to look at the property and the house is fantastic. It needs some work doing bits of new plasterboard here and there because of leak damage, and doors where they've been scratched by pets, but that's it. Then the vendor (who is showing us round) tells us that he and his wife have split up and he has to sell the house etc as he's lost his job and can't afford to live there anymore, and that despite what the estate agents he's with say it's worth way more than it's listed at.

He goes on to say he's had two other estate agents look at it who've told him it's worth 105,000

I would have ended the viewing right there and thanked him for wasting my time!! If he really has lost his job wait a few months until it's listed at £50,000 then off below that! Although to be honest it doesnt sound like he wants to sell. Look elsewhere.

Henry_P_Chester

If you look here http://www.rightmove.co.uk/house-value.html/nomsite?searchLocation=M276EA you can see that is been on the market with other agents in 2010 and earlier this year at £105,000 and £95,000. It did not sell for those prices so it was obviously overvalued then.

It's number 2 and last sold for £40,500 in 2002. It's current value derived from the land registry data for the area (http://www1.landregistry.gov.uk/house-prices/house-price-index-custom-reports) is around £64,000 so the current asking price is about right. Although you want to try and pay less than the land registry value to compensate for the fact that prices are falling in the area.

Taz_Sutton

Henry_P_Chester wrote: »

If you look here http://www.rightmove.co.uk/house-value.html/nomsite?searchLocation=M276EA you can see that is been on the market with other agents in 2010 and earlier this year at £105,000 and £95,000. It did not sell for those prices so it was obviously overvalued then.

It's number 2 and last sold for £40,500 in 2002. It's current value derived from the land registry data for the area (http://www1.landregistry.gov.uk/house-prices/house-price-index-custom-reports) is around £64,000 so the current asking price is about right. Although you want to try and pay less than the land registry value to compensate for the fact that prices are falling in the area.

Thanks so much for this, I didn't know you could check things like this, so that's a great help. We've actually started looking in other areas now, but the heads up about this property is fantastic. So thanks for these links as we can check other properties against these as well.

Old_Git

Taz_Sutton wrote: »

I'm a bit of a paranoid person and just worry about conflict being cause (I don't know - I think I have anxiety issues)

so here goes, here's the house and it was in face the estate agent many of you guessed

http://www.rightmove.co.uk/property-for-sale/property-30998686.html

easy to spot a man on his own lives here .
Iron on top off kitchen cupboard
weights under bed
Video camera beside the computer (ahem whats that for ):rotfl:

and there is a dog

Running_Horse

Horizon81 wrote: »

So what's the story with the Express Estate Agency? I've seen a couple of houses advertised through them that are a fair price. Looks like people on the brink of repossession. But... is it all a con? Do they just push the price up? Sounds best avoided. Keen to hear of any experiences as I was considering arranging a viewing on one of their properties.

Last discussions about that company here disappeared in a puff of smoke. They don't like being discussed online.

poppy10_2

Running_Horse wrote: »

Last discussions about that company here disappeared in a puff of smoke. They don't like being discussed online.

Reviews speak for themselves
http://www.allagents.co.uk/express-estate-agency/

Running_Horse

Brilliant find.

Taz_Sutton

Blimey the customer reviews are very insightful. It's frustrating as we decided to look a bit further out than where we originally planned and found another great house, great price and low and behold it's express estate agency again! arghhhh.

We're off to look at some more houses this week (that aren't with express) so hopefully it'll all go well