I need some smarts ... advice (no harm in trying)..

[ladymucky]

Confused as ever, who decided it was worth £265K ? The estate agent.
What are they currently selling for on rightmove and zoopla for instance See below
What price do those websites value it at? See below
Hundreds of house are "under offer" until they formally sell. Yes, and I flip on by them.
On what basis did YOU decide on 245K I didn't.
As she is selling it she shouldn't care how long the lease is left as this will of course lower the price. This is why she should care
House prices in London are down a lot this year Really?
Most houses sell for around 10% below asking price. Not so much in high prices or sought after areas, as far as I know. The bottom of her street went for way over the asking price. The reason she picked this agency.
Simply putting the No and postcode on here, we could have had a good idea what it was worth then take of the short lease which will once again reduce the price. See below.
You then decide the guy who made the offer is rich and employs cowboy builders, on what basis did you figure this out? I didnt, I was generalising.

[tankbuster1]

End terrace normally go for less as they get burgled more and underpinning is not such a big thing anymore as they just use Foam now

[Scuffs]

I sold 2 properties last year and after reading this thread I'm so glad I didn't ask for advice. degenerate idiots

[ladymucky]

Just a quick update on this before the working week starts again tomorrow.

So, she got a call from the estate agent .. He says the guy came again to the property and brought his wife, and she really likes it. so he will up the £230k to £235K.

The Estate agent says that this guy has now shown him his bank account and this is as far as he can go. He has to pay stamp duty and still realise some profit etc.

Who shows the estate agent their bank account? Very strange. And what's the story with the wife? It's not like they are choosing a home. Absolute BS. This is a cold business deal.

I have told her that all of that is his problem, not hers.

She has now turned him down (even though she is being led to believe he is her best option)

She is not holding out for full value either though. She will take anything above the 240k. A quicker sale would be preferable.

She has plans, the 240 would accommodate those plans.

I just hope the wings we have given her don't get broken.

This guy started at £215K then up slowly. He was at his limit at £220k the cauliflower, then he has managed 2 higher offers since.

Look, I can't blame a man for trying, and I get the game..... what I am finding hard to understand is the estate agent advice. He has weakened her because she says why would he want it sold for less and do himself out of the commission? You guys got anything on that?
.

(backhander from the buyer?)

[Random1002]

Just a quick update on this before the working week starts again tomorrow.

So, she got a call from the estate agent .. He says the guy came again to the property and brought his wife, and she really likes it. so he will up the £230k to £235K.

The Estate agent says that this guy has now shown him his bank account and this is as far as he can go. He has to pay stamp duty and still realise some profit etc.

Who shows the estate agent their bank account? Very strange. And what's the story with the wife? It's not like they are choosing a home. Absolute BS. This is a cold business deal.

I have told her that all of that is his problem, not hers.

She has now turned him down (even though she is being led to believe he is her best option)

She is not holding out for full value either though. She will take anything above the 240k. A quicker sale would be preferable.

She has plans, the 240 would accommodate those plans.

I just hope the wings we have given her don't get broken.

This guy started at £215K then up slowly. He was at his limit at £220k the cauliflower, then he has managed 2 higher offers since.

Look, I can't blame a man for trying, and I get the game..... what I am finding hard to understand is the estate agent advice. He has weakened her because she says why would he want it sold for less and do himself out of the commission? You guys got anything on that?
.

(backhander from the buyer?)

It makes very little difference to the estate agent how much it goes for - suppose he's on 2%
A £10k uplift is worth £200 to him - he'll prefer to get his nearly £5k cut even if it costs him £200 - IGNORE THE ESTATE AGENT
And if the buyer is a business bloke, tell him to fcuk off - he'll only drop his offer near the completion date.

[Rivher]

Ok ok, of course I know everything and can't be told. (well that's my image, which, of course, is not true)

I do genuinely respect you guys opinion or I wouldn't waste my time, or yours, asking.

This is bigger than me so any opinions would be appreciated.

So, a house is on the market.. there is a short lease so the value is lower, think 67 yrs . The seller (a young widow) wasn't expecting too much and thought she wouldn't even get a buyer with such a lease.

I told her not to panic, there is an arse for every seat.

So 3 weeks ago she was given a value of £265,000 she was shocked when the estate agent told her, that took into account the very low lease term.

So 2 weeks on the market she gets an offer of £215.000 .. she is weak because she wasn't expecting the valuation, but turns it down.

So he offers £220,000 - this is a far as he can go cos he has stamp duty to pay, it's not his only house blah blah blah (ofc it's fucking not) But that isn't her problem, right?

Anyway, he has come back today, suddenly he can afford to make it 230K still 35k undervalue.

The estate agent is saying she should maybe take it as Brexit (the cunting thing) is about to happen and it may affect things in the housing market.

I have no idea what will happen when Brexit strikes .. but I think she has time. I told her to say she needed 240k but the very lowest she will go is £237500. This may be way too low as well.

I think these cauliflowers see a young window and are trying to rip her off. Or, it could be sound advice and I am wrong.

As an Ex Estate Agent both in the UK and Spain, this is 'Estate Agent talk' for we are on 2% and I need the sale as Xmas is coming up!

She is not being ripped off, she is being made an offer, not quite the same thing. She has total option to take it or not? Just tell them what your minimum is and be ready to walk away if they do not agree it. The guy clearly wants it, he is just trying to get it as cheap as he can, like we all do.

[ladymucky]

Thanks.