Reply to: property prices in Edinburgh

[scooterscot]

Might have just sold me Edinburgh pad in time...

First house price fall in England since 2012

Increase in properties coming to market in east central Scotland and Edinburgh




Everyone is jumping ship. 'Short' that market

[Hobosapien]

Keeping the cash in gold until the correction is over.

The part I'm struggling with is handing a 1.25-1.5% fee over to the agent. In Germany it is the purchaser that would usually pay the fee, not the seller. Regardless, charging almost £10k as a fee for selling is taking the pi$$. Estate agents days are coming to and end and I think they know.

Aye fixed rate agents such as Purple Bricks will take over as people are squeezed into negative equity where every cost towards clearing their debt becomes an issue.

It's been a long time coming, those greasy agents (of all kinds ) don't like being seen for what they are.

Once fixed rate becomes the norm (among the normal people, the high end will still have commission based agents fleecing the rich, the price they pay to keep away from the plebs) then the margins will be squeezed even further as the competition forces them down.

[scooterscot]

Keeping the cash in gold until the correction is over.

The part I'm struggling with is handing a 1.25-1.5% fee over to the agent. In Germany it is the purchaser that would usually pay the fee, not the seller. Regardless, charging almost £10k as a fee for selling is taking the pi$$. Estate agents days are coming to and end and I think they know.

[Hobosapien]

Just flew back from Edinburgh last night after inviting a number of estate agents round for their opinion. All in the same ballpark, at least 10x of a professional's income. Insane.

Asking price is not as important as how quickly it will sell at that price. Better to be too high and negotiate down than be too low and get a sale as soon as it hits the market. (Not that I'm familiar with how it all works in Scotland. )

As with many people in London with multi million pound terrace houses, it's a no-brainer to sell up at such a high price if you don't want to continue living in such an expensive part of the country. It will buy a much nicer place elsewhere, or keep it in cash and buy cheap assets if the world economy does crash soon.

[LondonManc]

Just flew back from Edinburgh last night after inviting a number of estate agents round for their opinion. All in the same ballpark, at least 10x of a professional's income. Insane.

Gave the job to a local agent. Discounted another because I knew he was a leave voter, even though his services were a little cheaper!

You sad little man. I bet you piss sitting down.

[barrydidit]

Make sure you post a linky so we can get our "sealed bids" though your letter box. Any advance on one jobbie in a flaming envelope?

[scooterscot]

Just flew back from Edinburgh last night after inviting a number of estate agents round for their opinion. All in the same ballpark, at least 10x of a professional's income. Insane.

Gave the job to a local agent. Discounted another because I knew he was a leave voter, even though his services were a little cheaper!

[vetran]

I'll open a just giving page since the demand seems to be there.

that's it "Just Giving a *****!"

[PhiltheGreek]

Wow! Amazeballs! Go Scoots! Investment King! Ask them for their appraisal on Holyroodhouse too whilst you're at it will ya?

ps - pretty sure it can't 'all' be CGT free, what with you not living in it and all. You'll need to cough up on the increase in value after you moved out - and if we know anything about you at all, it's likely that this will be the most significant chunk

[scooterscot]

I'll open a just giving page since the demand seems to be there.

[Scotslaw]

not only have the neighbours clubbed together to buy him out at that price they are also paying his tax.

They are that worried he will come back!

It's not just the neighbours, it's a national fund raiser. We all chipped in 10p to cover the costs

[vetran]

Its all tax free!!!

not only have the neighbours clubbed together to buy him out at that price they are also paying his tax.

They are that worried he will come back!

[scooterscot]

Why aren't you selling it for tulipcoins?



P.S. Don't forget to pay CGT on your non-primary residence

Its all tax free!!!

[Scotslaw]

I'll give you £250,000 for it... you know it's a good price

[northernladuk]

*** Yawn ***