Re: Sold my house (eventually) - leaving the market

tim (back at home) wrote:
I'm going to make two points with this post, perhaps I
should make them separately, but never mind.

First, some of you may recall me contributing to (somebody
else's) thread on the possibilities of a quick exchange a few
weeks ago. Well, I exchanged on my sale yesterday, 9
weeks after the offer. So much for asking everybody to
work towards a quick exchange. Of course the buyer then
wanted a fast completion to make up the delay, but as I
need the time to pack up and put my stuff into store, he isn't
getting that.

I was ready to exchange 5 weeks ago, and even the answers
from the Managing Agents were available the following week.
The thing that held this up was the Mortgage Offer. I've no
idea if this was down to the personal circumstances of the
buyer (the EA says not, do I believe him?) but was because
"the Nationwide offer was so good it was hard to get", Um!

Oh well, all done now.

Second reason for posting is that I am one of those people
who has stated (here) in the past, that they think the housing
market is overheated and that prices cannot continue to go
up (and ought to fall). This is me leaving the market, does
my opinion have more credibility now?

I can't see that short term I'm going to be any worse off.
I have the proceeds of the sale in the bank, and/or am
saving mortgage interest and the interest from the value of
the property will (just) pay the rent on a similar property.

I am losing the capital gain (which I believe will be nothing
at best) but I am saving on all the costs of keeping up a
house. I think I'm quids in (as they say).

My personal circumstances are in my favour. The work that
I do is moving to other areas and I don't have a client at
the moment. I don't need a house in the area, I need to be
able to move quickly when a job does come up and I'm tired
of living in digs when I do get a job away from 'home'.

All in all a good deal, I think. I know that some of you will
disagree.

Cue long discussion on the subject (or not).

tim

In which part of the country?

I don't see UK house prices continuing to rise...

....except in London where the rise since 31st December 1999 has been
25% below the national average, which remains the world destination of
choice, and which I see filling up with construction workers,
organisers and speculators until an enormorus crash from Summer 2012
onwards.

.

Relevant Pages

  • Sold my house (eventually) - leaving the market
    ... work towards a quick exchange. ... This is me leaving the market, ... I don't need a house in the area, ...
    (uk.finance)
  • Re: Serial Connection
    ... Most commonly through correction ... at your house, ... they often use ground from the exchange. ... There must be some mistake. ...
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  • Re: estate agent "code of practice"
    ... house is under offer. ... The estate agents in question are not members of the National ... This is perfectly normal in the UK property market. ... There is a point in the transaction called 'exchange of contracts' ...
    (uk.legal)
  • Re: New MailBox Users
    ... Any domain that hosts exchange objects, such as users that have mailboxes, ... This posting is provided "AS IS" with no warranties, ... "Paul King" wrote in message ... > Hi Tim, ...
    (microsoft.public.exchange2000.setup.installation)
  • Re: Morning Smokes Mon 7/26/10
    ... about with yeaterdays rains. ... Morning Tim, ... The Funhas just begun w/the house Tim! ... pipe since '62, brain addled/mindless forever ...
    (alt.smokers.pipes)