UK house prices 'to fall by 30%'

[DimPrawn]

I'm looking at buying (at the right price of course).

Found a six-bedroomed house for £750K online, rang the estate agent to view. Estate agent says "they have so many offers they aren't accepting any more offers, people are offering well over asking price and they are going to go with the highest bidder over asking price today."

Doomed.

Not.

Credit Crunch ™ my

[Mich the Tester]

I'm looking at buying (at the right price of course).

Found a six-bedroomed house for £750K online, rang the estate agent to view. Estate agent says "they have so many offers they aren't accepting any more offers, people are offering well over asking price and they are going to go with the highest bidder over asking price today."

Doomed.

Not.

Credit Crunch ™ my

Sounds like someone who joined them from a recruitment agency. Call again tomorrow. The word 'agent' should be a give away.

[Francko]

More actually - 40%+ minimum and that figure will certainly reach 50%+.

Even if houses lose 99% of the value, you'd still be the biggest loser on the planet. As long as you are aware of that, then fine...

[DimPrawn]

Sounds like someone who joined them from a recruitment agency. Call again tomorrow.

They were completely uninterested in me viewing as a cash buyer. Too many buyers chasing too few properties.

I knew CyberTory Street was popular, but......

[lilelvis2000]

That's alright! Hmmmm time to bring over the cash from Canada. I've noticed the pound has fallen to $1.85 - from $2.10. Could get me a decent place.

Fall Pound fall!

[Mich the Tester]

They were completely uninterested in me viewing as a cash buyer. Too many buyers chasing too few properties.

I knew CyberTory Street was popular, but......

Quite possible that people from abroad with other currencies are taking advantage of the weak pound.

[TimberWolf]

They were completely uninterested in me viewing as a cash buyer.

I thought you only had £500K in cash though, not $750K?

[DimPrawn]

Quite possible that people from abroad with other currencies are taking advantage of the weak pound.

The house is the one with the quadruple garage block. It's one of the smallest houses/plot in that road.

http://maps.live.com/default.aspx?v=...cl=1&encType=1

[DimPrawn]

I thought you only had £500K in cash though, not $750K?

I've got £500K cash and about £250K available in equity I can release instantly on other properties I own that are mortgaged with a flexible mortgage (One Account).

[Purple Dalek]

They were completely uninterested in me viewing as a cash buyer. Too many buyers chasing too few properties.

I knew CyberTory Street was popular, but......

Quite a few estate agents make quite a bit out of money out of arranging the mortgage for the purchaser.

These types of agencies are often identified by their complete lack of interest in cash buyers, even though they may offer a higher price.

It's a common enough, would of thought someone in property like you say, would have seen it before.

This type of agency often also sells houses of the recently deceased (vacant possession, no chain), but that's another story.

So, if you see them doing one, they generally are at it with the other.

You could try going around the agent to the owner, but I've found that route can lead to other difficulties, so if you're niave to all this, it's best to walk away.