Page 1 of 2 1 2 LastLast
Results 1 to 10 of 19

Thread: Real estate

  1. #1
    Join Date
    Jun 2008
    Location
    Sunbury Victoria Australia
    Posts
    24,991
    Thanks (Given)
    8300
    Thanks (Received)
    10126
    Likes (Given)
    106523
    Likes (Received)
    45653

    Default Real estate

    Last year my brother in law in south London lost his wife.
    He has decided to sell up and move to Bexhill n the south coast.

    Went to a couple of real estate agents to get some idea of the value of his house, quoted between 380,000 to 420,000.

    Then he saw an advert in the paper, a company by the name of Link Securities.
    They will buy your property for a sum, pay all legal fees and give assistance with moving.
    They then improve the property and pout kit back on the market.

    Sadly my brother in law is not the sharpest knife in the box.

    He went for it and an agent of the company came, saw the property making an offer of 370,000 which he agreed to.
    Sent me a copy of the ten page agreement.

    After a few weeks the agent, nothing to do with real estate, came around with a number of clients he said were interested.

    In the mean time my brother in law finds a suitable house in Bexhill for 275,000, he offers 280,000 which is accepted.

    A couple then decide to buy his house and have an inspection done on it, nothing drastic needs doing.
    Fine, until a couple of weeks alter they then pull out.

    The agent then last week tells my brother in law they w ill not be able to sell the house for what they thought and will have to drop the offer by some 35,000. He accepts the new offer!!!

    This despite signing an agreement saying they will pay him 370,000 now only 335,000.

    My question to you is this.

    Have any of you heard of such companies, if so are there many?
    Can they drop the price in this way even though there is a contract signed by both parties, I would have thought not!!

    I have looked the company 'Link Securities' up on the net, it appears they are involved in numerous other enterprises not just real estate.
    Happy daze John in Oz.

    Life is too short to blend in.

    John Strange R737787
    World Traveller

  2. Thanks Doc Vernon thanked for this post
  3. #2
    Join Date
    Jun 2008
    Location
    Blue Mountains NSW
    Posts
    24,237
    Thanks (Given)
    45047
    Thanks (Received)
    13126
    Likes (Given)
    52440
    Likes (Received)
    39395

    Default Re: Real estate

    My understanding of this is that if he first signed the agreement for a nominated Sum that was AOK.
    Then the Agent because of circumstances tells him that they will have to drop the selling price , that also is legal, of course to the point that the party involved is willing. So if he was fully willing, nothing wrong with that, providing there are new Documents signed.
    If no new Docs are signed then the Agent has to by Law stick with the original one . thus the first amount stands!
    Cheers

    The original Docs of course can be altered as well, and made Legal providing both Parties Initial the changes. And witnessed .
    Last edited by Doc Vernon; 24th November 2020 at 06:02 AM.
    Senior Site Moderator-Member and Friend of this Website

    R697530

  4. #3
    Join Date
    Jun 2008
    Location
    Sunbury Victoria Australia
    Posts
    24,991
    Thanks (Given)
    8300
    Thanks (Received)
    10126
    Likes (Given)
    106523
    Likes (Received)
    45653

    Default Re: Real estate

    Vernon, Victoria, I think you have misread my posting.

    My brother in law signed a contract with a company who agreed a sum to buy his house at a set price.
    They now want to pay less than they signed for.
    Happy daze John in Oz.

    Life is too short to blend in.

    John Strange R737787
    World Traveller

  5. Thanks Doc Vernon thanked for this post
  6. #4
    Join Date
    Aug 2008
    Location
    W.A.
    Posts
    23,641
    Thanks (Given)
    12850
    Thanks (Received)
    13719
    Likes (Given)
    19100
    Likes (Received)
    76762

    Default Re: Real estate

    First reply disappeared in a puff of smoke so this one shorter. In WA the buyer puts up a bond which is unredeemable on him changing his mind. Only way out without loosing his money is if a surveyor employed by him can prove the house is not as advertised and has structural undisclosed damage. I had nearly 2 years trying to sell mine and dropped the price accordingly. Today the market is coming back to what it should be due to the low interest rate cutting in. I would go bonkers if had to do again . Getting too old for the hazzle. In the UK it is totally different people go overcutting and undercutting like a bunch of Covent Garden Spivs. JS
    R575129

  7. Thanks Doc Vernon thanked for this post
  8. #5
    Join Date
    Apr 2012
    Posts
    2,128
    Thanks (Given)
    8436
    Thanks (Received)
    5385
    Likes (Given)
    28206
    Likes (Received)
    32060

    Default Re: Real estate

    i would only say no deal is done ,,,,,till the money is in your bank ....i have taken deposits on property before and never had a prob ......i do recall a very gobby yorkshireman saying if my wife wants it .....she gets it ..she squeaked ooh yes yes as if in ecstasy ....he then stated i will be at the estate agents in the morn 9 am .....next morning i rang the agent ....has he been in no but i will ring him .....later.... he ses he doesnt want it he is buying a new rolls and doesnt think it will fit in the garage ......cappy

  9. Thanks j.sabourn, Doc Vernon thanked for this post
    Likes happy daze john in oz liked this post
  10. #6
    Join Date
    Jun 2008
    Location
    Blue Mountains NSW
    Posts
    24,237
    Thanks (Given)
    45047
    Thanks (Received)
    13126
    Likes (Given)
    52440
    Likes (Received)
    39395

    Default Re: Real estate

    Sorry if read incorrectly John ( Same sort of Scenario though)

    However still stands as far as any Legal Document is signed, so they have to stick with their offer at the First Price! As said only if a new Contract is made and signed by both parties is it able to be changed (The Price that is) And i dont think the BIL will agree to that will he ???
    Cheers
    Last edited by Doc Vernon; 24th November 2020 at 08:31 AM.
    Senior Site Moderator-Member and Friend of this Website

    R697530

  11. Likes happy daze john in oz liked this post
  12. #7
    Join Date
    May 2012
    Location
    Lincolnshire ex Liverpool
    Posts
    1,840
    Thanks (Given)
    539
    Thanks (Received)
    1576
    Likes (Given)
    2328
    Likes (Received)
    6958

    Default Re: Real estate

    Cappy you were obviously not thinking clearly when selling your house. If you had moved your two racing horses, five ponies and four dogs out of the garage there would have been plenty of room for the gentleman to park his Rolls Royce. You could have also made a killing on the mountain of manure to spread on the roses.

  13. #8
    Join Date
    Apr 2012
    Posts
    2,128
    Thanks (Given)
    8436
    Thanks (Received)
    5385
    Likes (Given)
    28206
    Likes (Received)
    32060

    Default Re: Real estate

    louis silly boy i was just selling one of my houses .....with 3 garages .. i couldnt let him park his rolls in it had my 60 foot yacht in .....i certainly couldnt turf out the racing horse trainer ....she was too pretty the groom for the ponies ...the 3 old sailors living in the gazebo.....the cook and her husband the butler...the bank manager in my shed louis you must learn people cannot be treated like mcluskys minions ...we are all individuals ..now i think and i have perused very long on this .....but well i think you must send back george the donkey i lent to you eighteen months ago.....i know you will lose income on the manure side of things .....but as a tip from me is eat beans peas....drink epsom salts and some good quality peanuts ...and although it may be a bit runny im sure you could crap a few stone a day ....hence not losing income from the manure side of your businnes....and of course keep up the businness motto.......3 bob a ton and not a fart in a cartload...regards and felicitations cappy

  14. #9
    Join Date
    May 2012
    Location
    Lincolnshire ex Liverpool
    Posts
    1,840
    Thanks (Given)
    539
    Thanks (Received)
    1576
    Likes (Given)
    2328
    Likes (Received)
    6958

    Default Re: Real estate

    Where I live some people put horse manure on rhubarb, defiantly not for me. Still prefer mine with custard.

  15. #10
    Join Date
    Apr 2012
    Posts
    2,128
    Thanks (Given)
    8436
    Thanks (Received)
    5385
    Likes (Given)
    28206
    Likes (Received)
    32060

    Default Re: Real estate

    Something not right here louis liked my post .....i only need a like from my old mate K at treggena and i shall get very very worried .....CAPPY

Page 1 of 2 1 2 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •