Ever overpaid for a house
Discussion
227bhp said:
PositronicRay said:
Can't be dieseluser surely?
Is that who the OP was for sure? I can certainly believe it.https://forums.moneysavingexpert.com/showthread.ph...
and this PH thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I'd say so.
easytiger123 said:
227bhp said:
PositronicRay said:
Can't be dieseluser surely?
Is that who the OP was for sure? I can certainly believe it.https://forums.moneysavingexpert.com/showthread.ph...
and this PH thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I'd say so.
I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
rah1888 said:
A more sympathetic audience...? 
"In a bit of a panic as went a bit crazy today and bought a house within an hour of viewing. On closer reflection i feel like we have maybe paid more than its worth, found a house on the same street with another bedroom for the same price and looks to a good standard, this is a 3 bed. And looking at sold prices doesent fill me with much hope. It was in high demand viewing and interest wise so we wanted to secure it"
https://forums.moneysavingexpert.com/showthread.ph...
That's actually quite a nice house. Shame about the shared access."In a bit of a panic as went a bit crazy today and bought a house within an hour of viewing. On closer reflection i feel like we have maybe paid more than its worth, found a house on the same street with another bedroom for the same price and looks to a good standard, this is a 3 bed. And looking at sold prices doesent fill me with much hope. It was in high demand viewing and interest wise so we wanted to secure it"
https://forums.moneysavingexpert.com/showthread.ph...
Countdown said:
rah1888 said:
A more sympathetic audience...?
"In a bit of a panic as went a bit crazy today and bought a house within an hour of viewing. On closer reflection i feel like we have maybe paid more than its worth, found a house on the same street with another bedroom for the same price and looks to a good standard, this is a 3 bed. And looking at sold prices doesent fill me with much hope. It was in high demand viewing and interest wise so we wanted to secure it"
https://forums.moneysavingexpert.com/showthread.ph...
That's actually quite a nice house. Shame about the shared access."In a bit of a panic as went a bit crazy today and bought a house within an hour of viewing. On closer reflection i feel like we have maybe paid more than its worth, found a house on the same street with another bedroom for the same price and looks to a good standard, this is a 3 bed. And looking at sold prices doesent fill me with much hope. It was in high demand viewing and interest wise so we wanted to secure it"
https://forums.moneysavingexpert.com/showthread.ph...
[quote=Flibble]"We pulled out of the sale, feel awful but at least it wont have cost them anything in fees yet, went round today to measure up and its a lot smaller than we remembered, and it was an absolute nightmare to pull off the drive, would be even worse if shared access was partially blocked."
/quote]
You’d have thought he’d looked at the floor plan and taken notice of the measurements.
/quote]
You’d have thought he’d looked at the floor plan and taken notice of the measurements.
227bhp said:
easytiger123 said:
227bhp said:
PositronicRay said:
Can't be dieseluser surely?
Is that who the OP was for sure? I can certainly believe it.https://forums.moneysavingexpert.com/showthread.ph...
and this PH thread:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
I'd say so.
I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
ked royally on this one.eltax91 said:
Petrolsmasher said:
Bought a house within an hour of viewing it today.
Stunning house, massive kerb appeal, absolutely immaculate, close to good schools and a good area.
Had a lot of interest and only been on the market for a day so we acted quick, ended up paying full price for it and on closer reflection we have maybe overpaid for the house about 5% of its true value. Does this cause any problems when it comes to getting a mortgage?
Its not crazy overpriced, maybe 7.5k at most but no less.
It causing trouble with mortgage entirely depends on your situation. Your equity/ deposit matters. Stunning house, massive kerb appeal, absolutely immaculate, close to good schools and a good area.
Had a lot of interest and only been on the market for a day so we acted quick, ended up paying full price for it and on closer reflection we have maybe overpaid for the house about 5% of its true value. Does this cause any problems when it comes to getting a mortgage?
Its not crazy overpriced, maybe 7.5k at most but no less.
If it’s a £200k house and you’ve paid £210k, then doh t there will be a problem if you are looking for a 65% LTV mortgage. If you want a 95% however, that could be a problem
PositronicRay said:
We had a Jamie128 once too - here's a thread about how he didn't like the pillows he bought from Argos and wondered if he could rip one to get a refund 
https://www.pistonheads.com/gassing/topic.asp?h=0&...
Coolbanana said:
In Amsterdam in recent years, the process of buying has been like this - which amazed me, having gone through it:
Visit the house/apartment, along with many others - often there is a queue and you filter through a few at a time - if you like it, you make an offer based upon the asking price.
The highest offer generally wins but it can be usurped by a lower offer if that offer is from a cash-buyer and the Owner wants the deal done quickly. The upshot in every case though is that the Owner gets more than their asking price! The rule of thumb was 10% more if you really wanted it.
This was the case in London up until a couple years ago.Visit the house/apartment, along with many others - often there is a queue and you filter through a few at a time - if you like it, you make an offer based upon the asking price.
The highest offer generally wins but it can be usurped by a lower offer if that offer is from a cash-buyer and the Owner wants the deal done quickly. The upshot in every case though is that the Owner gets more than their asking price! The rule of thumb was 10% more if you really wanted it.
Now London properties sit on the market a lot longer & rarely get the asking price.
There is a balance though... a lot of greedy people in the market overestimating the value of their asset & buyers underestimating the value of others.
OP - speak to your mortgage advisor. But you won't know what position you're in until the valuation comes through. You'll either have to stump up the difference or increase the LTV (which will mean higher rates). Of course, if you're at 90-95% LTV, then you might struggle
227bhp said:
No I mean did he really used to be 'Dieseluser' on here?
I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
Same post count for both, ie 2114 posts in 60 months so too much of a coincidence not to be methinks.I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
The reality is of course that the Courts have held that when a valuer is valuing a property a variance of up to 10% is likely to be acceptable so 5% is the top end of half of this.
Only you know the market that you are buying in, and what other asking prices are. The value of the property is what a willing buyer will pay a willing seller for it, so whatever you agree to pay if you are the successful purchaser is the value.
Personally though I am always sceptical of estate agent tactics that involve open viewings, and immediate offers. I do wonder whether on occasions they are trying to build up excitement in a property that wouldnt usually be there and increase its value.
Only you know the market that you are buying in, and what other asking prices are. The value of the property is what a willing buyer will pay a willing seller for it, so whatever you agree to pay if you are the successful purchaser is the value.
Personally though I am always sceptical of estate agent tactics that involve open viewings, and immediate offers. I do wonder whether on occasions they are trying to build up excitement in a property that wouldnt usually be there and increase its value.
Monkeylegend said:
227bhp said:
No I mean did he really used to be 'Dieseluser' on here?
I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
Same post count for both, ie 2114 posts in 60 months so too much of a coincidence not to be methinks.I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
JonnyJustice said:
Monkeylegend said:
227bhp said:
No I mean did he really used to be 'Dieseluser' on here?
I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
Same post count for both, ie 2114 posts in 60 months so too much of a coincidence not to be methinks.I thought when you went for a name change your pre-name-change posts had your old monika against them, but not sure.
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