Had an offer

[TimberWolf]

210 boom price should be around 170 now. But any buyer with any sense is pricing a further drop into their offer, so I think you'd be lucky to get that.

What were you asking (if I may ask)

tim

The agents valuation was £175K and I said okay, but forget getting business, what's the price if I want to sell, and they said £169K to sell at between £160-£165K. First offer from the buyer was £154K and after negotiation (much BS from agents) final acceptance was £159,500. Even though it's at the solicitor stage (only about a week after my first seeing the estate agents) no doubt the sale could go wrong, what with the news today of more big house price drops, but the buyer is a Dr and appears keen to move and may not attempt to gesunder. I doubt I will be up for gesundering anyway.

[Bumfluff]

On my flat. I put it up for sale very recently and before the brochure or HIP were completed, have had 2 viewings and an offer. I think at the peak of the boom my flat might have sold for £210K at a push and I have agreed £159,500. So that's around 76% of the peak of the boom price, or a 24% drop. It is a bit premature in the sales process to accept offers, but a bird in the hand etc.

Next stop may be rentsville.

Anyone know what the conveyancing costs are for selling only? The Estate agent is offering a 'special' price of around £550.

£550 sounds good, I would try and get them to exchange early my buyer pulled out wanted another £15k off week before completion, wasted nearly £2k in legals ggrrrrr I've sold / bought before but this time it's been a far worse experience.

[TimberWolf]

£550 sounds good, I would try and get them to exchange early my buyer pulled out wanted another £15k off week before completion, wasted nearly £2k in legals ggrrrrr I've sold / bought before but this time it's been a far worse experience.

Your solicitors charged 2K? How do they justify that?

I'm tempted not to engage mine until I'm sure my buyer has his mortgage approved.

[Iron Condor]

The agents valuation was £175K and I said okay, but forget getting business, what's the price if I want to sell, and they said £169K to sell at between £160-£165K. First offer from the buyer was £154K and after negotiation (much BS from agents) final acceptance was £159,500. Even though it's at the solicitor stage (only about a week after my first seeing the estate agents) no doubt the sale could go wrong, what with the news today of more big house price drops, but the buyer is a Dr and appears keen to move and may not attempt to gesunder. I doubt I will be up for gesundering anyway.

Well done, hopefully it will go through and buyer will be able to get a mortgage.

If unemployment and repossesions really start rising and prices collapse further 210K boom time flats will probably be worth less than 100K by the end of 2010.

[Bumfluff]

Your solicitors charged 2K? How do they justify that?

I'm tempted not to engage mine until I'm sure my buyer has his mortgage approved.

It covered the buy and sell £2k included searches etc, about £1200 in all for the buy and £800 for the sale.

[BrilloPad]

If you've had an offer so quickly are you not tempted to put it back on the market for £10k or £20k more?

I would bite their hand off.

[Fred Bloggs]

If unemployment and repossesions really start rising and prices collapse further 210K boom time flats will probably be worth less than 100K by the end of 2010.

And that's likely more than it's inherent value.