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UK diy (uk.d-i-y) For the discussion of all topics related to diy (do-it-yourself) in the UK. All levels of experience and proficency are welcome to join in to ask questions or offer solutions. |
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"Sold" boards should only be allowed after exhange of contract
Another house in the village has had its "Sold" board changed back to
"For Sale". This is the third house I know of where this has happened recently. My house was valued, at least in part, based on the sale of that house and that it had attracted much interest and numerous viewings and received an offer at the asking price within ten days of going on the market. But now the sale must have fallen through, as it is now on the market again. Maybe the reason is totally beyond anyone's control, like the buyer dropping dead or something pretty terminal. But in the case of another house where the same thing happened, I know relatives of the vendors in question, and they said that the buyer had just offered "some lame excuse". If agents were not allowed to erect the "Sold" board until contracts had been exchanged, the meaning of "Sold" would carry a lot more weight. As it is, I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job by apparently selling a house so quickly. MM |
#2
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"Sold" boards should only be allowed after exhange of contract
In an earlier contribution to this discussion,
Mike Mitchell wrote: Another house in the village has had its "Sold" board changed back to "For Sale". This is the third house I know of where this has happened recently. My house was valued, at least in part, based on the sale of that house and that it had attracted much interest and numerous viewings and received an offer at the asking price within ten days of going on the market. But now the sale must have fallen through, as it is now on the market again. Maybe the reason is totally beyond anyone's control, like the buyer dropping dead or something pretty terminal. But in the case of another house where the same thing happened, I know relatives of the vendors in question, and they said that the buyer had just offered "some lame excuse". If agents were not allowed to erect the "Sold" board until contracts had been exchanged, the meaning of "Sold" would carry a lot more weight. As it is, I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job by apparently selling a house so quickly. MM Am I missing something here? I can't see any advantage to the agent in pretending a house is sold when it isn't - because the "sold" notice will put off any other potentially interested parties from investigating it. -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
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"Sold" boards should only be allowed after exhange of contract
Set Square wrote:
In an earlier contribution to this discussion, Mike Mitchell wrote: Another house in the village has had its "Sold" board changed back to "For Sale". This is the third house I know of where this has happened recently. My house was valued, at least in part, based on the sale of that house and that it had attracted much interest and numerous viewings and received an offer at the asking price within ten days of going on the market. But now the sale must have fallen through, as it is now on the market again. Maybe the reason is totally beyond anyone's control, like the buyer dropping dead or something pretty terminal. But in the case of another house where the same thing happened, I know relatives of the vendors in question, and they said that the buyer had just offered "some lame excuse". Am I missing something here? I can't see any advantage to the agent in pretending a house is sold when it isn't - because the "sold" notice will put off any other potentially interested parties from investigating it. But that doesn't matter, because the house will probably eventually sell. What is most important is the 'sold' sticker next to the estate agents phone number, so people can phone them to sell their houses. |
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"Sold" boards should only be allowed after exhange of contract
In an earlier contribution to this discussion,
Ian Stirling wrote: But that doesn't matter, because the house will probably eventually sell. What is most important is the 'sold' sticker next to the estate agents phone number, so people can phone them to sell their houses. Do you reckon I could make a few bob then - by renting my front garden to a handful of estate agents to erect "Sold" notices - even though it isn't on the market? -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
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"Sold" boards should only be allowed after exhange of contract
On Sat, 17 Apr 2004 21:25:56 +0100, "Set Square"
wrote: In an earlier contribution to this discussion, Ian Stirling wrote: But that doesn't matter, because the house will probably eventually sell. What is most important is the 'sold' sticker next to the estate agents phone number, so people can phone them to sell their houses. Do you reckon I could make a few bob then - by renting my front garden to a handful of estate agents to erect "Sold" notices - even though it isn't on the market? Isn't it a pity that a notice like this doesn't have the effect of keeping the Jehovah's Witnesses and the Morons away. I must get in touch with an old friend from university days. He had a party piece to deal with them. It was necessary to arrange for the visitors to come at a specific time and to engage them in doorstep conversation. He would be upstairs and would drink some form of emetic and would then run down the stairs screaming that he was the antichrist and vomit on the doorstep at their feet. It was really very effective, they would never, ever come back again. ..andy To email, substitute .nospam with .gl |
#6
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"Sold" boards should only be allowed after exhange of contract
"Andy Hall" wrote in message news Isn't it a pity that a notice like this doesn't have the effect of keeping the Jehovah's Witnesses and the Morons away. I must get in touch with an old friend from university days. He had a party piece to deal with them. It was necessary to arrange for the visitors to come at a specific time and to engage them in doorstep conversation. He would be upstairs and would drink some form of emetic and would then run down the stairs screaming that he was the antichrist and vomit on the doorstep at their feet. It was really very effective, they would never, ever come back again. I reckon that while I'm talking to them, keeping them occupied, I'm protecting others. I once sold a parish magazine to two of them. To date they've always gone away gibbering ... Why are you not surprised? Mary .andy To email, substitute .nospam with .gl |
#7
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"Sold" boards should only be allowed after exhange of contract
"Set Square" wrote in message
Am I missing something here? I can't see any advantage to the agent in pretending a house is sold when it isn't - because the "sold" notice will put off any other potentially interested parties from investigating it. You get 6 weeks to finalise your mortgage. If you don't get the paperwork done and th emoney threough in time the vendor is free to gazzump you. The swine I work for just did that to a few people. I can't say I blame him. Some snarl up in the banks caused a delay i the processes. So he pulled out and put the prices up a thousand quid. (I must change this keyboard setting one day.) -- Posted via Mailgate.ORG Server - http://www.Mailgate.ORG |
#8
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"Sold" boards should only be allowed after exhange of contract
"Set Square" wrote in message ...
In an earlier contribution to this discussion, Mike Mitchell wrote: Another house in the village has had its "Sold" board changed back to "For Sale". This is the third house I know of where this has happened recently. My house was valued, at least in part, based on the sale of that house and that it had attracted much interest and numerous viewings and received an offer at the asking price within ten days of going on the market. But now the sale must have fallen through, as it is now on the market again. Maybe the reason is totally beyond anyone's control, like the buyer dropping dead or something pretty terminal. But in the case of another house where the same thing happened, I know relatives of the vendors in question, and they said that the buyer had just offered "some lame excuse". If agents were not allowed to erect the "Sold" board until contracts had been exchanged, the meaning of "Sold" would carry a lot more weight. As it is, I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job by apparently selling a house so quickly. MM Am I missing something here? I can't see any advantage to the agent in pretending a house is sold when it isn't - because the "sold" notice will put off any other potentially interested parties from investigating it. I didn't say they were pretending, i.e. committing fraud, did I? These are situations where the buyer has stopped buying, simple as that. MM |
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"Sold" boards should only be allowed after exhange of contract
In an earlier contribution to this discussion,
Mike Mitchell wrote: "Set Square" wrote in message ... In an earlier contribution to this discussion, Mike Mitchell wrote: If agents were not allowed to erect the "Sold" board until contracts had been exchanged, the meaning of "Sold" would carry a lot more weight. As it is, I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job by apparently selling a house so quickly. MM Am I missing something here? I can't see any advantage to the agent in pretending a house is sold when it isn't - because the "sold" notice will put off any other potentially interested parties from investigating it. I didn't say they were pretending, i.e. committing fraud, did I? These are situations where the buyer has stopped buying, simple as that. MM You said - and I have left your final paragraph unsnipped so you can see for yourself: "I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job . . " Seems pretty clear from this that you are blaming the agents for mis-representing the position rather than the buyers for pulling out. It is presumably the agents who are committing this alleged scam. I would have thought that your description of "scam" came closer to an accusation of fraud than my reference to "pretending". FWIW - I hold no brief for estate agents - they're largely a bunch of skarks. I just happen to think that this whole thread is a storm in a teacup. -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
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"Sold" boards should only be allowed after exhange of contract
FWIW - I hold no brief for estate agents - they're largely a bunch of skarks. I just happen to think that this whole thread is a storm in a teacup. You don't have to bother reading it, much less replying with c&p. Mary -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
#11
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"Sold" boards should only be allowed after exhange of contract
In an earlier contribution to this discussion,
Mary Fisher wrote: FWIW - I hold no brief for estate agents - they're largely a bunch of sharks. I just happen to think that this whole thread is a storm in a teacup. You don't have to bother reading it, much less replying with c&p. Mary That's a perfectly fair comment. Like many others - I imagine - I only read posts whose title looks interesting, and only usually reply if I feel that I can contribute something useful. Just occasionally, though, I reply to a post which I feel to be contentious. The opening post in this thread was one such! -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
#12
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"Sold" boards should only be allowed after exhange of contract
"Mike Mitchell" wrote in message ... If agents were not allowed to erect the "Sold" board until contracts had been exchanged, the meaning of "Sold" would carry a lot more weight. As it is, I feel it is being used as a kind of scam to force up the market and make would-be vendors believe that the agent in question must be doing a good job by apparently selling a house so quickly. MM I agree. Also, prospective buyers can be put off making an offer on a house they're keen on if they think it's gone. There used to be a 'Sold subject to contract' sticker which was attached to the For Sale board which gave some indication of what was happening. Mary |
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"Sold" boards should only be allowed after exhange of contract
In an earlier contribution to this discussion,
Mary Fisher wrote: There used to be a 'Sold subject to contract' sticker which was attached to the For Sale board which gave some indication of what was happening. Mary There still is - round our way, anyway! -- Cheers, Set Square ______ Please reply to newsgroup. Reply address is Black Hole! |
#14
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"Sold" boards should only be allowed after exhange of contract
"Mary Fisher" wrote in message et... I agree. Also, prospective buyers can be put off making an offer on a house they're keen on if they think it's gone. There used to be a 'Sold subject to contract' sticker which was attached to the For Sale board which gave some indication of what was happening. Mary Funnily enough our house has just been sold subject to contract, they have put a sold sticker across the top of the board, and in tiny letters it says subject to contract, so small unless you are standing infront of it you would not see it. Paul |
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"Sold" boards should only be allowed after exhange of contract
"Paul" wrote in message ... "Mary Fisher" wrote in message et... I agree. Also, prospective buyers can be put off making an offer on a house they're keen on if they think it's gone. There used to be a 'Sold subject to contract' sticker which was attached to the For Sale board which gave some indication of what was happening. Mary Funnily enough our house has just been sold subject to contract, they have put a sold sticker across the top of the board, and in tiny letters it says subject to contract, so small unless you are standing infront of it you would not see it. So it's all but meaningless ... Mary Paul |
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"Sold" boards should only be allowed after exhange of contract
I agree. Also, prospective buyers can be put off making an offer on a
house they're keen on if they think it's gone. There used to be a 'Sold subject to contract' sticker which was attached to the For Sale board which gave some indication of what was happening. Mary I guess the SSTC sticker gives people an indication that if they are really serious about the property someone else has had an offer accepted on then they should put in a decent offer to the estate agent before all the legal stuff goes through....kind of a going, going, gone situation. It's also good publicity for the estate agent to show that they can shift houses. As for properties going back on the market, I've seen some people put offers in for a couple of properties so it gives them a little extra time to decide which one they really want...the SSTC sticker does put some competitiors off, and once an offer is accepted then the agents usually stop advertising it. A survey is fairly cheap, so they then can have a leisurely survey done and make a final decision then. The real problem here is that under English Law, the SSTC isn't a binding contract on either side until contracts are exchanged. |
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"Sold" boards should only be allowed after exhange of contract
"Mike Mitchell" wrote
| But now the sale must have fallen through, as it is now on the | market again. Maybe the reason is totally beyond anyone's | control, like the buyer dropping dead or something pretty | terminal. The buyer dropping dead /is/ terminal - for the buyer :-) | If agents were not allowed to erect the "Sold" board until | contracts had been exchanged, the meaning of "Sold" would | carry a lot more weight. If you had the Scottish system where offers are binding and missives are concluded typically 10 days after closing date, Sold would mean sold. (Then again, only a small percentage of property gets near an estate agent in the first place :-) Owain |
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"Sold" boards should only be allowed after exhange of contract
If you had the Scottish system where offers are binding and missives are concluded typically 10 days after closing date, Sold would mean sold. (Then again, only a small percentage of property gets near an estate agent in the first place :-) I saw a castle ruin with a large, painted "for sale" sign on its walls in Galloway but there was no indication of a contact :-( So saying, Scots law has a lot to commend it in many ways. Mary Owain |
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"Sold" boards should only be allowed after exhange of contract
"Mary Fisher" wrote
| I saw a castle ruin with a large, painted "for sale" sign on its | walls in Galloway but there was no indication of a contact :-( It'll be the postmistress's husband's brother-in-law's nephew who went up to Edinburgh and came back with an LLB and airs and graces. It always is :-) Owain |
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"Sold" boards should only be allowed after exhange of contract
"Owain" wrote in message ... "Mary Fisher" wrote | I saw a castle ruin with a large, painted "for sale" sign on its | walls in Galloway but there was no indication of a contact :-( It'll be the postmistress's husband's brother-in-law's nephew who went up to Edinburgh and came back with an LLB and airs and graces. It always is :-) LOL! Doesn't he have a phone number though? Mary Owain |
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"Sold" boards should only be allowed after exhange of contract
"Mary Fisher" wrote
| | I saw a castle ruin with a large, painted "for sale" sign on its | | walls in Galloway but there was no indication of a contact :-( | It'll be the postmistress's husband's brother-in-law's nephew who | went up to Edinburgh and came back with an LLB and airs and | graces. It always is :-) | LOL! | Doesn't he have a phone number though? You only get told that if you buy enough home-made fudge from the post-office! Owain |
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"Sold" boards should only be allowed after exhange of contract
"Mary Fisher" wrote in message . net...
If you had the Scottish system where offers are binding and missives are concluded typically 10 days after closing date, Sold would mean sold. (Then again, only a small percentage of property gets near an estate agent in the first place :-) I saw a castle ruin with a large, painted "for sale" sign on its walls in Galloway but there was no indication of a contact :-( Perhaps that was just graffiti. It's everywhere nowadays. So saying, Scots law has a lot to commend it in many ways. I don't like the sealed bids idea, though. I like to know the price before I decide to buy! Imagine a supermarket where the shelves were all stacked with tins of beans, sides of ham and so on, as per usual, and everyone queued up at the checkouts with envelopes in their hands! However, the legally binding bit I DO like. MM |
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"Sold" boards should only be allowed after exhange of contract
"Mike Mitchell" wrote in message om... I don't like the sealed bids idea, though. I like to know the price before I decide to buy! Imagine a supermarket where the shelves were all stacked with tins of beans, sides of ham and so on, as per usual, Er - have you honestly seen sides of ham on a supermarket shelf? Mary |
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"Sold" boards should only be allowed after exhange of contract
On Sun, 18 Apr 2004 15:37:36 +0100, "Mary Fisher"
wrote: "Mike Mitchell" wrote in message . com... I don't like the sealed bids idea, though. I like to know the price before I decide to buy! Imagine a supermarket where the shelves were all stacked with tins of beans, sides of ham and so on, as per usual, Er - have you honestly seen sides of ham on a supermarket shelf? Tins of ham, then! MM |
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"Sold" boards should only be allowed after exhange of contract
"Owain" wrote in message ... If you had the Scottish system where offers are binding and missives are concluded typically 10 days after closing date, Sold would mean sold. (Then again, only a small percentage of property gets near an estate agent in the first place :-) We used to live in Scotland and on putting our property on the market to move south again the first two offers we received were subject to agreeing to use the English system so that they didn't have to pay for surveys up-front. |
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"Sold" boards should only be allowed after exhange of contract
"G&M" wrote in message ...
"Owain" wrote in message ... If you had the Scottish system where offers are binding and missives are concluded typically 10 days after closing date, Sold would mean sold. (Then again, only a small percentage of property gets near an estate agent in the first place :-) We used to live in Scotland and on putting our property on the market to move south again the first two offers we received were subject to agreeing to use the English system so that they didn't have to pay for surveys up-front. Oh, that's given me a brilliant idea! What's to stop me from selling my house the Scottish way, using sealed bids? That's not much different, by the way, from an auction really, as in an auction no one has any real idea what the property will eventually go for. MM |
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"Sold" boards should only be allowed after exhange of contract
"Mike Mitchell" wrote
| Oh, that's given me a brilliant idea! What's to stop me from | selling my house the Scottish way, using sealed bids? Because under the English system they're not legally binding, so you cans till be gazundered. It depends on the type of property, but with the larger property it's not uncommon for a deposit of say 5% to be requested with the offer, and the vendor places a similar deposit on escrow when accepting the offer, to be forfeited if either party subsequently pulls out. Owain |
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"Sold" boards should only be allowed after exhange of contract
"Owain" wrote in message ... "Mike Mitchell" wrote | Oh, that's given me a brilliant idea! What's to stop me from | selling my house the Scottish way, using sealed bids? Because under the English system they're not legally binding, so you cans till be gazundered. er - do you mean gazumped? 'gazunder' is an entirely different thing ... Or, perhaps, you DID mean the same thing ... Mary |
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"Sold" boards should only be allowed after exhange of contract
If agents were not allowed to erect the "Sold" board until contracts
had been exchanged, the meaning of "Sold" would carry a lot more weight. It isn't the estate agents doing this. It is the buyers. When having an offer accepted and ready to roll, I have always insisted as part of the offer that the board is changed to "Sold STC" and that no further marketing is done. I don't want to spend £££s on the survey and booking mortgages to find someone putting in a higher offer 2 months down the line because they saw the sign. Christian. |
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