Is it too late to sell a house in Northern Ireland???

wesd

agal wrote: »

I believe that estate agents are legally obliged to pass on any and all offers to the vendor.

Certainly true in GB but I've heard that estate agents here aren't regulated in the same way - not passing all offers to the seller and accepting backhanders are all perfectly legal here although it's unlikely that a big agency would risk their reputation doing this. Hopefully there's an agent reading this who can confirm or deny.

Frenchtoast_2

I've heard that estate agents here aren't regulated in the same way - not passing all offers to the seller and accepting backhanders are all perfectly legal here

Perish the thought if this already trusted profession included the above as a marketing tool. I would like to see that bit of NI Legislation in writing.;)

marty306

estate agents and solicitors were making a killing.

last year i sold my house to build and the estate agent added 5K onto his valuation which was a lot more than I'd expected already but it sold for even more, so his 1% commission was sickening especially as the first person who saw the for sale sign bought the house. I could have made the sign myself and he contributed nothing to the sale!

I've had family with terrible estate agent issues - agent saying no interest in a house then offering to take it off their hands for 20K less but when they changed agents there was a flood of enquiries.

When looking for a house earlier this year an estate agent slammed the phone down on my other half when we stopped bidding on a house at 20k over the asking price! They were artificially boosting the price and we caught them out.

These were all different agents too.

agal

wesd wrote: »

Certainly true in GB but I've heard that estate agents here aren't regulated in the same way - not passing all offers to the seller and accepting backhanders are all perfectly legal here although it's unlikely that a big agency would risk their reputation doing this. Hopefully there's an agent reading this who can confirm or deny.

This page http://news.bbc.co.uk/1/hi/business/2946170.stm seems to confirm that the situation is the same here for EAs as in England/Wales

nosey_biatch

hey! 2 houses in my street sold immediately after they were dropped to 125K. They sat for months around 170K

my house went on the market at 170K in July. I have steadly dropped in down to 140K about 6weeks ago. Got 3 viewers directly after this. Won't drop any more until the new year-that's if I have to.

Suppose it just all depends how much you want or need to sell. The others for sale in my street remain at 170K so I am hoping mine will get interest after xmas and new year.

re; your mortgage. I am in a deal with Barclays (the Woolwich) which I can come out of any time without penalty. A pittance extra a month and worth it for the flexibility. I pay an extra 30quid or so a month on 55K. It was fee free also when going into it

Colin_Kee

Nosey Biatch, The OH & I are currently re-mortgaging with that deal. definalty worth itfor the flexibility in these current times.

Apparently Irish News has Headline this morning that house prices have dropped £20,000 on average. Haven't seen it myself so don't know the whole storey yet.

The new Development near us which I had recently commented on where the Semi's were on at £210,000 & Detached Houses on at £275,000 now has a big sign saying PRICES START AT £149,950, thats a £60,000 Drop. Funny enough they are starting to sell now, full Turn Key Finish as far as I know.

Certainly a bit more realistic. If the prices settled around this level now I'd say it would certainly be more sustainable.

leftieM

The new build market is in big trouble. Developers paid such huge sums for land that they had to pack houses on to make a big profit, so the houses are lacking in garden and can be poorly designed. They can't compete with similarly priced older houses that are closer to amenities, have more land and have better lay-outs.
Apartments can still sell if the papers are to be believed. Why anyone would buy an apartment for 200k is beyond me. Maybe they had to sell part of their brain to raise the capital to fund their 'investment'.

tara747

Parisien wrote: »

Don't believe the hype.....no real reason for prices to fall by 50%.........cetainly a correction is on the cards, but there is still relatively full employment, the good chance that mortgage rates will fall early next year.....so let us know when you decide to buy!

All in your opinion of course. We shall see who is right. I don't intend buying till prices fall by half.

:beer:

tara747

talksalot81 wrote: »

One or other of Pooler and Watson has turned quite bearish (though I cannot recall who it is), the other is just doing a cairns.

I think it's Pooler. Watson is still talking bull.

talksalot81

tara747 wrote: »

Watson is still talking bull.

:T You'd think he was born in a field or something....