Reply to: ******* sellers suddenly decided not to sell property

[Sysman]

I'm just wondring if banks have wind of bad news coming our way. Conspiracy rumours are that a European bank has gone bust and Benny Hill says "extraordinarily serious and threatening" economic situation". Maybe banks prefer to be sitting on property at them moment rather than receiving your cash that will soon be worthless.

Could be. What I saw in one country when they were about to devalue their currency was that everyone piled their cash into property, scrap cars, the lot, anything rather than be left sitting on a pile of cash.

[Sysman]

Seller were receivers acting on behalf of the bank that had to repo whole new build few years ago.

You'd think by now they'd prefer to write off bad debt like this. I guess that's what proper bank would do - they are a building society

The property world is very corrupt all scrupulously clean and above board, especially where repossessions are concerned.

The odds are high that it will go to one of the receivers' mates at an even cheaper price.

[AtW]

Aye Scunthorpe - might get a new car instead and keep renting for a few more years before buying a detached house for a wheelbarrow of cash

[DimPrawn]

Move on Atw.

It's not like there's a shortage of new build flats in Brum. There must be 1000's of them for sale, especially new builds.


You make out like you were buying a unique grade 1 listed castle or something that comes up for sale every 300 years.

[fullyautomatix]

Maybe you can put your detailed analysis of the inner-city Birmingham housing market online as a PDF for our edification? Alternatively, admit you don't know f-all and give up before AtW ends up making someone look stupid.

WHS.

Investing in inner city Birmingham flat is the next big thing. Fill yer boots !

[yasockie]

One thing that apparently brings people to home owning rather than renting is that they can do pretty whatever they like with the place and that includes putting it up for sale and changing their mind at the last minute...

[yasockie]

This proves you are delusional. Have you not done any research into how much flats have dropped in value ?

Do some maths, how can a leasehold property cost so much ?

For 200K you will get a large 5 bedroom house in Detriot, does not it mean its worth the money.

In two year's time you will be thanking your lucky stars you did not get to your eyeballs in some debt with a property you cannot shift.

Sounds big enough for a methlab PlanB or a supplier in the booming motor industry

[Freamon]

Seller were receivers acting on behalf of the bank that had to repo whole new build few years ago.

You'd think by now they'd prefer to write off bad debt like this. I guess that's what proper bank would do - they are a building society

Actually what most banks have done is hold onto the loans and continue to allow the borrowers to fall further and further into arrears. They have now started to sell of large books of lossmaking loans to asset management companies at far below book value. Obviously these aren't real asset management companies, they're ones the banks have set up themselves and continue to own, but it gets the loans off the balance sheet.

CoStar UK - The Leader in Commercial Property Information

[TimberWolf]

£300K sounds like run of the mill money for a flat in Birmingham.

You can pay well over a million for a flat in the city centre.

After all what's a million these days with all the money printing?

Last year, maybe, but more like £50K now, assuming you can find a buyer?

[DimPrawn]

£300K sounds like run of the mill money for a flat in Birmingham.

You can pay well over a million for a flat in the city centre.

After all what's a million these days with all the money printing?

[TimberWolf]

Maybe you can put your detailed analysis of the inner-city Birmingham housing market online as a PDF for our edification? Alternatively, admit you don't know f-all and give up before AtW ends up making someone look stupid.

Can't be too many people willing to part with 3 or 4 hundred £ for a flat in Birmingham surely. What was/is your rent AtW?

[d000hg]

This proves you are delusional. Have you not done any research into how much flats have dropped in value ?

Maybe you can put your detailed analysis of the inner-city Birmingham housing market online as a PDF for our edification? Alternatively, admit you don't know f-all and give up before AtW ends up making someone look stupid.

[fullyautomatix]

Are you blind or stupid or both? I said clearly it's a very good location and it's large 154 square meters two bedroom place. Less than £200k won't buy you tulip in that area.

This proves you are delusional. Have you not done any research into how much flats have dropped in value ?

Do some maths, how can a leasehold property cost so much ?

For 200K you will get a large 5 bedroom house in Detriot, does not it mean its worth the money.

In two year's time you will be thanking your lucky stars you did not get to your eyeballs in some debt with a property you cannot shift.

[AtW]

I've got 200k burning a whole in my pocket but you'd better be quick if you need it as I'm buying a house with it.

£200k does not even buy a bedsit in Brum anymore - keep yer filthy pennies to yourself old man

[eek]

I'm just wondring if banks have wind of bad news coming our way. Conspiracy rumours are that a European bank has gone bust and Benny Hill says "extraordinarily serious and threatening" economic situation". Maybe banks prefer to be sitting on property at them moment rather than receiving your cash that will soon be worthless.

Rumours? Its more than rumours if you think about the last time the US performed the deeds their announced last night!!!

The worrying thing is that today's game has been pick a bank, any french bank!!!!