Flat buying - seller turning nasty

geoffky

if only 5%, in your wildest dreams, ps you need to tell people what the market really is like out there.
or do you have a motive ,as the market is on its knees and poor people are being suckered in by stupid people telling them property only ever goes up,

will you be giving loans out to these people who have been told to buy in the last year because property only goes up and all of a sudden they are stuck with negative equity on a massive scale.but you will be ok wont you,
the danger of a crash is just too big now for anyone giving advice not too mention that its likely,
when i went looking in sept a estate agent told me that they had never been so scared of the market.
so i stopped looking and went and done some research and to my horror found out about all these people who are buying now have not got a hope in hell of moving for years because of negative equity. so why not warn people unless you want to sucker them ???

BrandNewDay

This has been a really exciting thread and I will be really disappointed if it turns into a buncha HPC bickering.

ghekkomanic

geoffky wrote: »

im pleased to say its going down and has done for the last three months.

In London?

From everything I've seen and heard on the subject the general concencus seems to be that prices will still increase (decrease in some areas, not London) but nowhere near the same rate as they have been of late. I'm no expert though - what are your sources other than google?

geoffky

ok end of warning


here it is .. Already in London, the price paid per square foot for property in the City has started to fall, according to Hamptons International, the estate agents,

House prices have dropped for the first time in two years, a new survey shows today, adding to mounting evidence that higher interest rates have knocked the confidence of buyers.
The latest national study by the online group Hometrack showed London and the south-east led the way with the largest price falls,

ghekkomanic

geoffky wrote: »

ok end of warning

Look I appreciate the advice - and my question was genuine.

I don't think any FTB buying a property at the moment goes into it lightly, there just seems to be a lot of conflicting opinions.

merlinthehappypig

ghekkomanic wrote: »

Look I appreciate the advice - and my question was genuine.

I don't think any FTB buying a property at the moment goes into it lightly, there just seems to be a lot of conflicting opinions.

You are always going to get conflicting advice on here - it wouldn't be any fun if we all agreed with each other! For what it's worth, most people, 'experts' included, think that, at best, house prices will stay static over the coming year. Signs are that prices will reduce, but by how much, no-one knows. They might reduce a little, there might be a big adjustment. A lot depends on the economy in general, but without a crystal ball, we can only guess. Different areas of the country will perform in different ways as well.

If you are buying within your means for a home, not an investment, and can accept the possibility of the value of your home going down as well as up, then of course you should still buy. I'm currently renting, but that's my choice. I'm happy to ask for advice on here, but, at the end of the day, will make up my own mind about what to do.

Obviously if you can get the property for less, then that's a bonus!

lynzpower

ghekkomanic wrote: »

In London?

From everything I've seen and heard on the subject the general concencus seems to be that prices will still increase (decrease in some areas, not London) but nowhere near the same rate as they have been of late. I'm no expert though - what are your sources other than google?

Erm plenty of reductions and property sticking in london mate.

izzybusy23

NOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!

I'm a dedicated HPC'er but please please please do not turn this thread into one.. this isn't about HPC!!!!

OP.. not been on here for a while, gutted that you still haven't pulled out! I really think you should walk away from this flat. There are thousands of flats out there and one with yours and your GF name on it. This one stinks of trouble to me. Your seller is going to be an !!!!! without a doubt. In reality, on the day you move in, will you really get that warm giddy feeling that you should have when you've just bought your first home, or collapse in a heap through all the stress over it all..?

You might end up hating this flat because of all the grief its caused you.. look at it with your head and not your heart. It might be wise for you to take charge of all the handlings from now on as its a well known fact that women get emotionally attached very easy..

Good luck again!

Mozette

PLEASE let us know what happens (no life either...!)

motch

Massive oversupply of flats throughout most of the country.
Just need to look how within the last 6 months the city and the medias views
are changing towards the markets. Whats the next 6 months going to be like?

Flats in my area are dropping. amateur BTL repossessions etc.
Buying a flat at the top / just past top of the market to me is just plain crazy.
Mortgages being approved last month 17 % down on previous month and 36% down on this time last year - result more houses/flats on market.

I originally bought my flat / maisonette 9 years ago for £20k value now approx £100K I know it will never fall to those values again, but if prices fall flats will take the biggest hit by far.