Sealed Bids - Real Stories?

PasturesNew

!!!!!!? wrote: »

It does show how much of house price is down to sentiment though. If they'd bought the house at 140k over the next nearest offer, does that make the house now 'worth' that much more to the market at large?

I'd say no.
It's only worth that to the buyer and anybody else who felt the way they do - and they might be alone.

Vincenzo

!!!!!!? wrote: »

It does show how much of house price is down to sentiment though. If they'd bought the house at 140k over the next nearest offer, does that make the house now 'worth' that much more to the market at large?

Not sure I understand this statement? Like the vast majority of markets the housing market is imperfect. Sentiment plays a large part in pricing in all markets. This was a fairly unique property and therefore hard to value (due to lack of comparables). The purchaser obviously got it wrong. I cannot see how any conclusions can be drawn from this about the market as a whole though. Plenty of people over pay for properties and would not necessarily get back what they paid if they sold immediately, even in a buoyant market.

harryhound

Does this demonstrate that the average "canny" Scot is the seller?
All the buyers are mugs spending too much on surveys and legal costs?

wymondham

PasturesNew wrote: »

So Krusty said "With heavy hearts they decided to walk away"

Krusty... do you mean the Honourable Kirstie Allsopp ? does this count as treason?? :rotfl:

IveSeenTheLight

harryhound wrote: »

Does this demonstrate that the average "canny" Scot is the seller?
All the buyers are mugs spending too much on surveys and legal costs?

Bought a few properties in Scotland and I am definately no mug.
I've even won a property within two hundred pounds of the next bidder.

It doesn't cost me anything to bid in Scotland until I am the highest bidder.
You can ut in bids with the clause of subject to survey, hence you dont pay anything till you know the property is acceptable for your bid.

Naturally a survey helps to identify any structural issues, however the market price can be worked out without the surveyor

moanymoany

I remember one Location Location where the purchasers bought a big house somewhere. They went back to see them and the house was absolutely lovely - big garden - everything. BUT in the days when this house was built it would have had a staff of at least two indoor servants and probaly a daily to do the heavy work or 'rough'. The garden would have had a full time gardener who would have produced all the family's fruit and veg.

How do the people who buy these houses keep them up?

btw - luv the 'krusty' epithet.

The best one of these I saw was a designer of some sort who bought a big semi in Margate. I liked him and the house at the end looked really smashing. Have to say I never took to 'PJ and Hereward'. I did wonder if her nickname was anything to do with wake - Hereward the Wake - geddit - I'll get my coat........:o