Bank of mum and dad

bowlhead99

seven-day-weekend wrote: »

We already knocked the seller down from £72k. They had moved out of the flat two years before. Flats in that block for sale now have asking prices of around £70-£75k.

Just checking - you said you helped your son buy a house that had been empty for two years, at 90% of its asking price, when he wouldn't have had any chance of offering as much as 90% of asking price if you hadn't helped him out.

And people owning property in that block are still asking in the 72k range, and don't think they are asking too much because, for example, your son was able to pay within 10% of asking price in recent memory.

And after creating this fake buyer (i.e. a buyer who would not have otherwise had the means to pay within 10% of asking price if you hadn't helped them out), you

seven-day-weekend wrote: »

...do not see how we have helped to keep prices high.

:cool:

seven-day-weekend

bowlhead99 wrote: »

Just checking - you said you helped your son buy a house that had been empty for two years, at 90% of its asking price, when he wouldn't have had any chance of offering as much as 90% of asking price if you hadn't helped him out.

And people owning property in that block are still asking in the 72k range, and don't think they are asking too much because, for example, your son was able to pay within 10% of asking price in recent memory.

And after creating this fake buyer (i.e. a buyer who would not have otherwise had the means to pay within 10% of asking price if you hadn't helped them out), you


:cool:

My friends (pensioners) paid £77k for a flat in the same block the year before.

There is a flat underneath my son on sale at £74995, it has been on sale for six months and has not sold.