He'll probably wait to see how many buyers there are for her, tell everyone it is sealed bids only, and then sell her to his best mate who coincidentally beat the second highest bid by 1p.
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Estate Agents
- Thread starter Herr Tubthumper
- Start date
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,022
one point here is what the f*** business is it of the agent to want anything, they are supposed to be acting on behalf of the client, not thier own interest.
but what i realy wanted to say here is that the legal professionals probably dont help. there seems a lack of standardisation over what are common processes, and an archaic working practice which means things take longer than necessary. a lot of their shortcomings and failings are misdirected to the estate agent - who in turn dont help by communicating those problems, presumably so people dont realise they dont do much!
though you can do a offer to completion in under three weeks if everyone is organised, i know my Gran did so recently. its not that complicated really, just needs some coordination. shame they never went the full monty with the homebuyers pack, requiring everything prepared up front before putting on the market. but that would probably have put alot of solicitors out of simple bread and butter work, and theres alot of ex lawyers in parliament...
Martin Lambert
New member
In over twenty years of doing the job, I have never taken a back hander or given someone the nod on sealed bids
Jam The Man
Well-known member
Quick question (that may have an obvious answer).. as i've been looking at properties online since we put our house on the market, I've noticed quite a few are presented as..eg:
From £250,000
Price Range: £250,000 - £275,000
Surely if someone was to make an offer, they're gonna go straight in with the lower figure?
Or is to entice several offers and start a bidding war?
Or is it to indicate the average price range for that area?
From £250,000
Price Range: £250,000 - £275,000
Surely if someone was to make an offer, they're gonna go straight in with the lower figure?
Or is to entice several offers and start a bidding war?
Or is it to indicate the average price range for that area?
Jam The Man
Well-known member
No joy re the above?
To add some views from a buyer / seller :
Mishon Mackay - over value, and are complete tossers. I was selling my house and got a surge of viewings in the first two weeks ( which was good ) but it then died off completely. I got a relative to go in pretending to be looking for a property that matched the spec, price and area and strangely they didn't even hand over the details of my property. If they don't get a sale in the first few weeks they completely lose interest. Avoid like the plague.
Dean & Co - couldn't be more helpful. Prompt and useful updates and really work to ensure BOTH parties are in the loop.
Fox and Sons - an absolute show of shite, especially the Preston Park branch. You have to push them for feed back, they rarely suggest what you could do to make a property more sell-able and charge more than most. Unfortunately I'm tied to them for another 12 weeks !!!!!
I would agree on Graham Farthing although I might be biased as I went to school with him.
Uncle Spielberg
Well-known member
To add some views from a buyer / seller :
Mishon Mackay - over value, and are complete tossers. I was selling my house and got a surge of viewings in the first two weeks ( which was good ) but it then died off completely. I got a relative to go in pretending to be looking for a property that matched the spec, price and area and strangely they didn't even hand over the details of my property. If they don't get a sale in the first few weeks they completely lose interest. Avoid like the plague.
Dean & Co - couldn't be more helpful. Prompt and useful updates and really work to ensure BOTH parties are in the loop.
Fox and Sons - an absolute show of shite, especially the Preston Park branch. You have to push them for feed back, they rarely suggest what you could do to make a property more sell-able and charge more than most. Unfortunately I'm tied to them for another 12 weeks !!!!!
I would agree on Graham Farthing although I might be biased as I went to school with him.
I did not say MM were good or not, I said Glenn Mishon is a really nice bloke, which he is. Fox & Sons and the corporates I agree with.
Fair enough - so are his parents ( who I was completely shocked to find how modestly they live given the luxury he lives in ).
Jam The Man
Well-known member
LOL.. I take it no-one knows the answer then!?
Uncle Spielberg
Well-known member
It is because that is into the 3 percent range and no one is going to offer 260 or if they did the vendor may be expected to offer something towards the higher stamp duty.
Jam The Man
Well-known member
aha... many thanks
The Wookiee
Back From The Dead
The lower end of the price range is used as a bait price to entice buyers to the property and get them through the door, once viewed make an offer on what you feel its worth, if the vendor says no you now have a starting point to hopefully negotiate a price that everybody is happy with
Uncle Spielberg
Well-known member
This is not the case. Over £ 250000 stamp duty goes from 1% to 3% so if you buy at £ 250k you pay £ 2500 and f you buy at £ 255k you pay £ 7650. This is why no one will market their property at £ 255k or anything at a level just over £ 250k. Thats why offers are invited and if someone offers £ 260k they would expect the vendor to pay some of the stamp duty. This disparity in the market is caused by the ridiculous way stamp duty is calculated and could be stopped overnight if you pay 1% up to £ 250k and 3% on the amount over £ 250k only and not the whole amount. So it has nothing to do with enticing offers.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,022
so... how about when the range is 180-200 or 350-380? no stamp duty boundries there. Also, it seems it was a some select agents, Cubit and West springs to mind.
The Wookiee
Back From The Dead
I am very aware of stamp duty thresholds bit I think the post was about properties being marketed with price ranges in general instead of a fixed price.
The Wookiee
Back From The Dead
See my post, it explains why price ranges are used
Uncle Spielberg
Well-known member
Good point but I have not seen this. I think it is because it is a shit market and vendors want to allow a wider band of applicants. The band between 250-270k is down to Stamp Duty. The market is turning into cash buyers and buy to let magnets now. First time buyers and as a result first time sellers are being / have been forced out of the market. Home ownership will become a reserve for the privileged few and it will become like Europe with a rental for life as the norm.
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The Wookiee
Back From The Dead
I work for an Estate Agents that use price ranges, it does work. It does get more people through the door and does generate more offers
Uncle Spielberg
Well-known member
So the market is buzzing is it ?.
I've read this five times and still don't understand what you are saying? Are you saying that the 250k stamp duty band is what is turning it into a cash buyer market and therefore only for the priveleged few?
