Why I Had To Pull Out! (Buying a House in 2024)

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  • เผยแพร่เมื่อ 8 ก.พ. 2025
  • Earlier today I informed my solicitor that I was withdrawing my offer to buy a house, this is the first property I have offered on since the UK house price crash started but following recent events, it probably won't be the last!
    We had an offer accepted on a property 2 weeks ago and we were very happy with the price that we agreed, however, after visiting the property yesterday we noticed a noise issue that is a deal breaker for us.
    The UK housing market is in a very precarious position so it is more important than ever that buyers are confident about the purchase they are making.
    Buying a house can be very emotional and stressful, however, it is important to try and remain as neutral as possible in case you need to make the difficult decision to withdraw your offer.
    Some buyers end up proceeding with a purchase due to guilt or concerns about pulling out. While these feelings are understandable, you have to make the decision that is right for you - not other people in the chain.
    Although I don't believe the UK House Price Crash is over yet, some sellers are starting to become more realistic with pricing. In my example, the seller accepted our offer which was £125,000 (approximately 20%) less than their original asking price.
    This shows how important it is to continue viewing properties during a UK housing market crash as some sellers are more motivated than others and it is possible to secure a good deal.
    It's impossible to know how much house prices will fall in 2024 or if house prices are going to drop at all, but the downside risk is very real so it's important to avoid overpaying.
    What do you think, is the house market going to crash? Post your house price predictions for 2024 in the comments!
    -----------------------------
    • Follow me on Twitter for my latest thoughts: / darrenthedegen
    -----------------------------

ความคิดเห็น • 300

  • @HonestMoney
    @HonestMoney  ปีที่แล้ว +9

    • Follow me on Twitter for my latest thoughts: twitter.com/darrenthedegen

    • @amritbhupal8514
      @amritbhupal8514 ปีที่แล้ว

      So the price was originally at £650k, they then reduced to £575k when there wasn’t any movement and then settled at £525k when they saw what was happening with the prices of their prospective dwellings, and the likes of Halifax and Rightmove as still continuing this narrative that there isn’t a property crash?
      What you experienced is something that I’ve also seen in the East Midlands (Nottingham). If property is to gather any interest it has to drop by at least 10% from the original list price, and the owner will then likely drop another 10% in order to get the property sold. That’s a 20% drop. And if you then account for around 20% cumulative inflation we’ve had over the past two years then we’ve effectively seen a 40% drop in prices. This would be the crash that everyone predicted as soon as interest rates hit 5%. The property crash is very real.

  • @KarenLavia
    @KarenLavia 11 หลายเดือนก่อน +180

    Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

    • @Suleferdinand
      @Suleferdinand 11 หลายเดือนก่อน +1

      Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

    • @nicolasbenson009
      @nicolasbenson009 11 หลายเดือนก่อน +1

      Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

    • @CraigLloyd-fz6ns
      @CraigLloyd-fz6ns 11 หลายเดือนก่อน +1

      Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

    • @nicolasbenson009
      @nicolasbenson009 11 หลายเดือนก่อน +1

      My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

    • @RaymondKeen.
      @RaymondKeen. 8 หลายเดือนก่อน +1

      She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

  • @tatianastarcic
    @tatianastarcic 8 หลายเดือนก่อน +280

    I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

    • @berniceburgos-
      @berniceburgos- 8 หลายเดือนก่อน +3

      "Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task

    • @nicolasbenson009
      @nicolasbenson009 8 หลายเดือนก่อน +2

      Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.

    • @BridgetMiller-
      @BridgetMiller- 8 หลายเดือนก่อน +2

      this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

    • @nicolasbenson009
      @nicolasbenson009 8 หลายเดือนก่อน +2

      There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

    • @Michaelparker12
      @Michaelparker12 8 หลายเดือนก่อน +1

      She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

  • @wordenfrank1112
    @wordenfrank1112 10 หลายเดือนก่อน +64

    I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,,

    • @johnfrederick2944
      @johnfrederick2944 10 หลายเดือนก่อน

      Sure, what's Apk her directly but TH-cam's
      got a thing with posting numbers 👇

    • @johnfrederick2944
      @johnfrederick2944 10 หลายเดือนก่อน

      +185

    • @johnfrederick2944
      @johnfrederick2944 10 หลายเดือนก่อน

      0815

    • @johnfrederick2944
      @johnfrederick2944 10 หลายเดือนก่อน

      0479

    • @JosieFaelyn
      @JosieFaelyn 10 หลายเดือนก่อน

      I would have dismissed all of this as nonsense if I hadn't been a witness.

  • @Freddie-Moses
    @Freddie-Moses ปีที่แล้ว +208

    Very disappointed! I searched "Bald Man Pulls Out" and got a video about buying a house

    • @peterhoward2004
      @peterhoward2004 ปีที่แล้ว +9

      Hilarious

    • @79bull
      @79bull ปีที่แล้ว +1

      🤣

    • @jqmatinex8666
      @jqmatinex8666 ปีที่แล้ว +1

      😮

    • @hatterbez2943
      @hatterbez2943 ปีที่แล้ว +3

      😂😂😂 harsh....I'm sure you mean balding!!! No jokes....we're all balding....but not all of us get the chance to pull out 😮

    • @John-bi3my
      @John-bi3my ปีที่แล้ว

      First post best post.

  • @RobertGillontheinterweb
    @RobertGillontheinterweb ปีที่แล้ว +25

    The issue we’ve got with house price indexes is that asking prices as you’ve demonstrated went way higher over 2023 and so when Halifax come out and say that they are valuing houses the same practically as they were in 2022 is that the only properties that are selling are the ones that are reasonably priced. Everything else isn’t selling

  • @JosephMcEntee99
    @JosephMcEntee99 ปีที่แล้ว +36

    It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.

    • @grey_johnson6718
      @grey_johnson6718 ปีที่แล้ว +1

      But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?

    • @leonardives1991
      @leonardives1991 ปีที่แล้ว +1

      Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.

    • @grey_johnson6718
      @grey_johnson6718 ปีที่แล้ว

      what can individuals do if thev're worried about the potential impact on their property values?

    • @leonardives1991
      @leonardives1991 ปีที่แล้ว

      It might be a good time to reassess your financial situation. If you're concerned about the value of your home, consider talking to a real estate expert or a financial advisor, someone like Mayra Femia Hetrick. They can provide insights into the local market conditions and help you make informed decisions.

    • @debroahmorrow5919
      @debroahmorrow5919 ปีที่แล้ว

      That's good advice. How do i reach the advisor you mentioned?

  • @ellensamir374
    @ellensamir374 ปีที่แล้ว +9

    An agent called me yesterday and shared a semi detached house listing at 350k in Swanley, I told my budget is 300k he still said I should view it.

  • @MsJustice4ever
    @MsJustice4ever ปีที่แล้ว +30

    What was the noise issue? Please share more details.

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว

      Red Arrows

    • @WillyJunior
      @WillyJunior ปีที่แล้ว +8

      Nextdoor to Moving Home with Charlie

    • @MrDuncl
      @MrDuncl ปีที่แล้ว +7

      A bit surprising with a detached property.
      I completely agree with the going back multiple times. I went back to a terraced property I had viewed in the evening and the very helpful neighbour was practicing being Phil Collins. From previous experience I completely dismissed the place at that point.

    • @EMEL-hr4ut
      @EMEL-hr4ut 9 หลายเดือนก่อน

      Loud sex

  • @stevo728822
    @stevo728822 ปีที่แล้ว +10

    Pointless video if you're not going to explain the noise issue.

  • @EnglishVeteran
    @EnglishVeteran ปีที่แล้ว +14

    Interest Rates up today and expected announcement of increased inflation.

    • @aliasgur3342
      @aliasgur3342 ปีที่แล้ว +5

      Nationwide slightly upped rates whilst Santander and others cut rates

    • @JohnBrown-c4v
      @JohnBrown-c4v ปีที่แล้ว +3

      Biggest fall to two-year fixed mortgage rate since 2022
      The market is mixed with some lenders hiking rates and others cutting them.

  • @JulianWestcott
    @JulianWestcott ปีที่แล้ว +10

    The housing market is in free fall wait until all the extra houses come on in the spring.I’ve just locked my money up for another year

    • @mrjelfs3705
      @mrjelfs3705 11 หลายเดือนก่อน

      Where are all these people going to live who are going to flood the market with their homes?

    • @kanatsizkanatli
      @kanatsizkanatli 11 หลายเดือนก่อน

      There are other predictions suggesting an asset bubble (housing, stocks, shares etc) is coming soon, with logical explanations as to why this may be the case. If you are serious about buying my personal advice is to buy the right property for the right reasons. Good luck

  • @tourrhythmgolf-3to1
    @tourrhythmgolf-3to1 ปีที่แล้ว +6

    I always do a Google Earth look into the neighbours gardens any sign of a trampoline, hot tub, tiki bar, green egg barbecue, football goal or basketball hoop an it's a no go!

    • @Paul-zu2hf
      @Paul-zu2hf ปีที่แล้ว

      Especially a basketball hoop....man, that bouncing on concrete rattles through a house like nobodies business.

    • @tourrhythmgolf-3to1
      @tourrhythmgolf-3to1 ปีที่แล้ว

      @Paul-zu2hf yeah I used to have neighbours with teenage boys and basketball. they used to leave their ball in the drive, got a puncture one time, and can't imagine how.....?

  • @TazBo-wd2ig
    @TazBo-wd2ig ปีที่แล้ว +17

    Every house I see in Manchester there is a queue of people and always 3 or 4 builders who are ready to flip it. You are now competing with people who are expanding their portfolio aswell as normal house buyers. The stamp duty for a second house should be insane so ppl don’t do this it’s not fair.

    • @adm58
      @adm58 ปีที่แล้ว +2

      There should be no taxes but just be a proper free market - which means no supply restrictions, i.e. no planning permission needed for new housing. There would very quickly be sufficient supply to meet all demand.

    • @SILKY_999
      @SILKY_999 ปีที่แล้ว

      Are you looking in south Manchester ? Because am currently looking to buy but in north Manchester definitely haven’t seen that but some of the popular areas in north Manchester are going fast if priced right .

    • @whatanabsolutejoke
      @whatanabsolutejoke ปีที่แล้ว +5

      THIS… every house that gets bought as a buy to let compounds this issue. It’s downright greed.
      Especially when a lot of the landlords/ investors aren’t even based in the UK so this stupid government are just allowing desperately needed housing stock to become assets of people who are not even contributing to this economy, the money gets funnelled overseas. There needs to be a cap on this now.

    • @nicholaspostlethwaite9554
      @nicholaspostlethwaite9554 ปีที่แล้ว

      @@adm58 Loopy. Not one inch of green space should ever be built over. Well unless you create it out of the sea yourself.
      All housing needs to be put in towns, where facilities already are, and there are a lot of unwanted high streets that can be used. Ideally for stacked container conversions that are actually cheap and really affordable. Rent or buy. Micro homes only permitted for ten tears or more.

    • @adm58
      @adm58 ปีที่แล้ว

      @@nicholaspostlethwaite9554 that's your opinion. Fine. If you own land, don't build on it. We need a free market though so that everyone can act on their opinion. The sum total of all those individual actions is the collective outcome. I'm sure your home was built on green land, along with everybody else's too.

  • @JasmineBloom-lf9cw
    @JasmineBloom-lf9cw ปีที่แล้ว +1

    I have been following the house market more than a year now. And I saw most house price still very sticky, the asking price remained the same (peak price). Those who willing to be more realistic, have greater chance to have their property sold. This is what happened to my neighbourhood property, reduced the price 3 times to £180,000. 2 x pulled out and finally sold this month. This property originally asking price was £220,000, 22% price drop! Not a easy journey. Those similar kind of property in the region, the prices still sits between £220,000 to £230,000 at the moment. Still waiting for a buyer.

  • @andrewkelly8696
    @andrewkelly8696 ปีที่แล้ว +6

    Thank you, great real life experience reinforcing the realities on the ground every success moving forward.

  • @alip718
    @alip718 ปีที่แล้ว +10

    Thank you for your honest and informative videos

  • @annah6543
    @annah6543 11 หลายเดือนก่อน +1

    Buy and selling a property is so stressful, it does not help that people like this chump, make an offer, pull out and mess people about. This is one of the reasons why there is limited supply as many people just cannot face the hassle and the number of tyre kickers, plus stamp duty to move on, move on downsize, stress hassle, or stay put and with money saved have a nice holiday and buy a fancy car.....we are all doomed.

  • @filipdobrin6515
    @filipdobrin6515 ปีที่แล้ว +2

    As unemployment is rising every day now , house prices will fall more this year but people are still hoping they can sell it for a good price .

  • @skiiddy
    @skiiddy ปีที่แล้ว +1

    Any direct comparables near the one you agreed to buy, sell in 2023 if so, what did they sell for? Land Registry is the only index that cannot be disputed or manipulated!

  • @Coinkeeper83
    @Coinkeeper83 11 หลายเดือนก่อน +2

    I feel sorry for the vendor! They would have lost money, time wasted and should have done due diligence before making a offer,

    • @danieledwards9856
      @danieledwards9856 8 หลายเดือนก่อน

      Vendor won’t lose much at all.

  • @katesaid4180
    @katesaid4180 3 หลายเดือนก่อน

    Our buyers have just pulled out just a day before exchange of contracts, they were cash buyers and we don't have a chain... Gutted as now we're going to have to wait till the Spring market to sell. The buyers also met my partner a couple of weeks ago whilst checking out the area and said how excited they were! You just never know!

    • @katesaid4180
      @katesaid4180 3 หลายเดือนก่อน

      I should add that we're in lovely West Oxfordshire

  • @MrDuncl
    @MrDuncl ปีที่แล้ว +1

    You definitely need to be careful checking at multiple times. I also would recommend having a chat with the neighbours as that might show up a problem.
    On the plus side I could only afford this property back in 2011 after someone else pulled out due to a crack in a wall. It was the Estate Agent who called me. Further research showed people were talking about the same crack back in 1991.

  • @fourspooks4518
    @fourspooks4518 ปีที่แล้ว +8

    What was the noise issue? Could it have been the Red Arrows practicing?

    • @79bull
      @79bull ปีที่แล้ว +1

      I lived near them for ten years. I could see them but not hear them, thankfully 😅 also had the Vulcan going very close by … before it was locked up @ Donny

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว +1

      I am near Scampton and had the Red Arrows practicing overhead for 16 years. I miss them. Apparently their new practice area south of Lincoln has generated many complaints. Also a rise in properties going on the market in the practice area. I would defiantly say that is the noise issue not the neighbours. I would pay noisy neighbours to be quiet when people are viewing.

    • @keypoint1293
      @keypoint1293 11 หลายเดือนก่อน

      It is a BS issue that is what it is.

  • @patpalloon
    @patpalloon ปีที่แล้ว +2

    2 weeks is nothing no need to feel guilty. I pulled out of somewhere because my solicitor found legal issues and a year later I bought my dream house.

  • @hsp2007
    @hsp2007 ปีที่แล้ว +6

    The fact that you have pedal backwards on the deal speaks to you integrity and I think you should keep your word when deal is done it's done and do you diligence prior to make in your offer

    • @tzj21
      @tzj21 ปีที่แล้ว +1

      I actually do agree with this. Integrity issues. Just because you can doesn’t mean you should. British people have an issue with ‘if it’s not in a contract then it’s not binding’. Pretty scummy move

    • @teddyb4957
      @teddyb4957 ปีที่แล้ว

      Your high morals will 'lead you to the poor house'...but at least you will have your integrity!...I hope you don't run a business?!

    • @teddyb4957
      @teddyb4957 ปีที่แล้ว

      So if going back on the deal meant that your child's financial future was compromised you would put your integrity/someone else above them?@@tzj21

  • @bradsmith9689
    @bradsmith9689 ปีที่แล้ว +9

    This tale of getting a house at a reduced asking price fits in with the narrative. Fell through because of noise ?

    • @kevoreilly6557
      @kevoreilly6557 11 หลายเดือนก่อน

      Pulled out because of a “noise” … am I on the right channel?

  • @q8386
    @q8386 11 หลายเดือนก่อน

    Good advice to visit any potential buy multiple times at different times of day and night. Before we moved to our current (and forever) home, we had made an offer on another one. It was a cheeky offer way way way below the asking price (with the urging of the estate agent!). This raised a red flag with us when the sellers were happy to accept, and they suggested that we don't bother with a survey. We didn't fall for this, had a survey, and the surveyor said we should run, run run far away from the property due to hidden subsidence. OK, we paud £400, for the survey, but heck, it was the best value £400 I've ever spent.

  • @davidhill431
    @davidhill431 ปีที่แล้ว +10

    Comon tell us why you pulled out!

    • @philipmulligan4325
      @philipmulligan4325 ปีที่แล้ว +7

      I suspect a barking woofer like I have next door. Ruins your life to some degree but the owners are oblivious.

    • @voice.of.reason
      @voice.of.reason ปีที่แล้ว

      How can owners not hear their own dogs@@philipmulligan4325

    • @mrjelfs3705
      @mrjelfs3705 11 หลายเดือนก่อน

      They've got 5 kids already.

  • @aliasgur3342
    @aliasgur3342 ปีที่แล้ว +24

    House prices will crash, beware!!! Also: I'm buying a house.

    • @MrBlackCoffee96
      @MrBlackCoffee96 ปีที่แล้ว +3

      Such hypocrisy lol

    • @andrewtaylor6737
      @andrewtaylor6737 ปีที่แล้ว +2

      I wouldn't say crash, but a slow & steady decline for years to come!
      The world is bankrupt, house prices might be the last of our worries!!

    • @mattmackenzie1111
      @mattmackenzie1111 ปีที่แล้ว

      Not going to happen, prices will flatline over next 2/3 years. Market has pick up locally to me

    • @andrewtaylor6737
      @andrewtaylor6737 ปีที่แล้ว

      @@mattmackenzie1111 & what area, might that be ?

    • @Littletime839
      @Littletime839 ปีที่แล้ว

      ​@@andrewtaylor6737I'll have whatever it is you are smoking

  • @adm58
    @adm58 ปีที่แล้ว +2

    You didn't say why you pulled out. You negotiated what seemed to be a good price. Was it because you expect further falls in the market?

  • @brendanpetticrew5899
    @brendanpetticrew5899 11 หลายเดือนก่อน +1

    Well that’s 10 minutes I’ll never get back 😂 Just because a house was valued wrongly doesn’t mean the market is crashing. I watched a number of these videos waiting for a crash and it hasn’t really happened. Lots of predictions here that never came true. I’m sure if you film these long enough, prices will go down at some point though and you will be right.

    • @IgnatyDyakov
      @IgnatyDyakov 10 หลายเดือนก่อน

      Hear hear! Here in Warwickshire, in the past four months every house or flat we had put an offer on went above asking price and via best and finals and super fast. Yes, it is a very good area, Yes, we are in for a budget home (we are downsizing due to increased mortgage rates). Yet, we experience quite the opposite of what you tubers want us to believe (as much as I'd love them to be right).

  • @stevep9221
    @stevep9221 ปีที่แล้ว +1

    Thank you for being so honest. 20% off the real price is about right but 30% to be safe. There are estate agents out there allowing the odd person to bye for the price it was worth at the top value. It is crazy and those people have been ripped off. I checked a Postcode in Henley-on-Thames with houses around a million and the Daily Mail did an article saying biggest house price rises in the country. Did a price paid search with the Land Registry and one of the properties in the same postcode sold for 105% less than what it was worth in Apr 23. This is a scandle like no other before.

    • @serraios1989
      @serraios1989 ปีที่แล้ว +1

      105% less? Something is probably wrong with this number

    • @rrudepropertygroup4363
      @rrudepropertygroup4363 ปีที่แล้ว

      It's great to see this guy sharing this experience with everyone but I have to say it does seem like he was never gonna go through with the purchase. I think I remember him saying in one video that he lived around Kent, so going every few days to the east midlands to check the area seems a bit odd and a waste of time especially for someone with his knowledge of property. I'm not sure the noise issue, again for someone with his knowledge would negate what seems like a significant discount on the property.

  • @mannybee536
    @mannybee536 11 หลายเดือนก่อน

    Regardless of what's in store in the future which we can only speculate about, thank you for sharing these experiences and I've found your input really beneficial in balancing out views from the media.

  • @adm58
    @adm58 ปีที่แล้ว +5

    We need contracts to be binding from the beginning, with a forfeit being paid for pulling out (as happens in many other countries). The sale process can be ridiculously long and expensive and the stress of knowing that anyone can pull out right until the end just adds to the unpleasantness of the whole thing.

    • @garethwilliams4467
      @garethwilliams4467 ปีที่แล้ว +2

      I never get involved in a chain for that reason

  • @uktopcat
    @uktopcat ปีที่แล้ว +8

    Interesting title, I’m waiting for the “I sold my house to pay someone’s mortgage for a year, hoping house prices would drop 30%” title

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว +4

      🥱🥱 Getting boring now! If he's stashed his equity into a high interest savings account, he'll be earning the monthly rental payments in interest...... Problem solved!

    • @Leapops
      @Leapops ปีที่แล้ว

      Incorrect. He only gets interest on his equity so, unless that equity was enormous or he is now renting a shoebox, it will not cover his rental payments. Additionally he missed out on the chance of fixing his mortgage at ultra low rates for an extended period when he sold up so his new mortgage when he does buy will be much higher that it may have been had he not sold. The housing guru made a financial boo boo. @@Bubbles77418

    • @uktopcat
      @uktopcat ปีที่แล้ว

      @@Bubbles77418 So everyone who owns a house should sell, put money in the bank and rent? I’d rather own a house than help someone else pay for theirs

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว +1

      @@uktopcat never said that! Just making you aware that, for some, it was a financially viable option. Not everyone will have the equity to do it mind!

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว

      ​@@Leapopswho put 50p in you? 🥱🤦

  • @exploringsuffolk
    @exploringsuffolk ปีที่แล้ว +1

    This is why we didn't buy when market was overheating as agents would say you need to offer by tomorrow morning etc, no time to do due diligence, many people will have been caught out

    • @MrDuncl
      @MrDuncl ปีที่แล้ว +1

      In 2011 it was the Estate Agent who contacted me asking "are you still interested pretty please" about a month after I had been told that someone had offered full asking price. The full price buyer (if there was one) pulled out due to potential structural problem so I did pay for a full survey before going ahead.

  • @harryturnbull4781
    @harryturnbull4781 11 หลายเดือนก่อน

    I was looking at this model whereby a property company sources, refurbishes, lets and sells to the investor with guaranteed rents. Sounds very attractive. Until I saw the properties I was being invited to buy and their true market worth which had been inflated to stratospheric levels in areas where no one buys to live. And you know what that means.

  • @Pizzarrow
    @Pizzarrow ปีที่แล้ว +13

    For a guy that’s made over 100 videos over the last year about a market ‘crash’, it’s funny to me that you’re buying now in the face of a resilient market.. why not just wait for this crash if you’re so sure it’s coming 🤔

    • @nicholaspostlethwaite9554
      @nicholaspostlethwaite9554 ปีที่แล้ว +2

      Looks like that is what he just decided. Notable he never said why he pulled out.

    • @Pizzarrow
      @Pizzarrow ปีที่แล้ว

      @@nicholaspostlethwaite9554 he said it was a specific issue to do with the property , not the market

    • @Pizzarrow
      @Pizzarrow ปีที่แล้ว

      @@nicholaspostlethwaite9554 also the guy is full of shit , let’s just be honest

    • @MonkDave666
      @MonkDave666 11 หลายเดือนก่อน

      Because he's a grifter who doesn't know what the fuck he's talking about.

    • @sun2020able
      @sun2020able 11 หลายเดือนก่อน

      he doesn't buy or even look at any properties. He just makes up some stories for content@@nicholaspostlethwaite9554

  • @NormanWalley
    @NormanWalley ปีที่แล้ว +1

    Current house prices are based on 1% interest rates it will settle back to reality it just takes time.

  • @kevoreilly6557
    @kevoreilly6557 11 หลายเดือนก่อน

    The Rhythm Method to buying a home …
    This is why in the US there is usually Ernst Money held in escrow so buyers have some skin in the game (usually post inspection though)

  • @BenWaller001
    @BenWaller001 ปีที่แล้ว +13

    “Why I just pulled out” you sure that’s the strap line you want to run with 🤣

  • @Drdoombrain
    @Drdoombrain 7 หลายเดือนก่อน

    You could have done the research on the environmental noise before you put an offer in, going different times on the street can be done before your interest is put forward. A detached house in the countryside at that price isn't going to be an issue with neighbours I doubt....
    I feel sorry for the others in the chain

  • @ronniefront511
    @ronniefront511 ปีที่แล้ว +15

    Noise issue on a detached house? Was the neighbour a marching band ?

    • @bobjames6622
      @bobjames6622 ปีที่แล้ว +7

      Nope! The neighbour was a SlipKnot tribute band .

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว

      Red Arrows

    • @chrisb7324
      @chrisb7324 ปีที่แล้ว +2

      @@fourspooks4518as in the RAF base?😂 surely thats a joke

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว

      No Joke, R.A practicing out of RAF Waddington, @@chrisb7324

    • @MrDuncl
      @MrDuncl ปีที่แล้ว +1

      East Midlands airport ?

  • @neilcharlton
    @neilcharlton ปีที่แล้ว +7

    What was the noise issue that cropped up on a drive by ? 😢

    • @bobjames6622
      @bobjames6622 ปีที่แล้ว +1

      Neighbours doing drive by shootings at each others houses.

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว +1

      Red Arrows

  • @boombustinvest
    @boombustinvest ปีที่แล้ว +8

    Why didn't you wait to research the noise issue before making the offer? Did you knock on neighbours doors?

  • @Samuels691
    @Samuels691 ปีที่แล้ว +5

    Knew you made an offer when bank offered you more lol.
    But thanks for honesty. Price have fallen for sure and there are good opportunities to negotiate down.
    Agreed on vendor doing the viewing. I’ve met EA who have NO clue whatsoever.
    Also I imagine sellers in East Midlands to be a bit more willing to accept lower offer to than or someone in Kent!

    • @kevchilton908
      @kevchilton908 ปีที่แล้ว

      How did you come to that conclusion? I've just moved to Kent from the East Midlands and got a higher price for my house than was advertised, and knocked the price of my 'new' Kent house down a lot to get a bargain! Purchase and sale transacted at over £400k.

    • @Samuels691
      @Samuels691 ปีที่แล้ว

      @@kevchilton908 Easy. They overpaid! Hope you’ve exchanged

    • @ayres6727
      @ayres6727 ปีที่แล้ว

      what that suppose to mean? Knew you made an offer when bank offered you more?

    • @user-nu5tg5be9x
      @user-nu5tg5be9x ปีที่แล้ว

      @@kevchilton908 May I ask what part of Kent, please?

    • @kevchilton908
      @kevchilton908 ปีที่แล้ว

      @@user-nu5tg5be9x East of Canters... in the sticks

  • @TMckenzie007
    @TMckenzie007 11 หลายเดือนก่อน

    The problem with buying a house i think the seller should pay for basic searches and is available for any potential buyer to view and once the buyer viewed and make an offer there should be a deposits will get rid of waster who wants to waste people time

  • @bye-72
    @bye-72 11 หลายเดือนก่อน

    Noise issue in a detached house.
    Is it Near East Midlands airport?

  • @roathripper
    @roathripper ปีที่แล้ว +7

    unlucky darren, you can't pick your neighbours. better the issue came to light now than 6 months down the line. hope you find your forever home soon.

    • @fourspooks4518
      @fourspooks4518 ปีที่แล้ว

      Red Arrows

    • @roathripper
      @roathripper ปีที่แล้ว

      @@fourspooks4518 ah, wondered if could be MOD or something like that out in the sticks. Triple glazing essential eh?

  • @sadiebrookes1092
    @sadiebrookes1092 11 หลายเดือนก่อน

    I’m probably going to pull out of my purchase after damp was found on the survey. £1k down in fees to find that out 😢

  • @craptacular8282
    @craptacular8282 11 หลายเดือนก่อน

    This cost of living crisis has really hit the daily essentials. I've had to start pulling out as well.

  • @Soulboy63
    @Soulboy63 ปีที่แล้ว +1

    It's simple , making an offer means nothing in the UK.. Exchange means business .rely on nothing else

    • @MrDuncl
      @MrDuncl ปีที่แล้ว +1

      In 1995 my so called buyer tried to Gazunder me on the day of completion her excuse being that she couldn't get a big enough mortgage. To add insult to injury she then bought a better house in the same road.

    • @Soulboy63
      @Soulboy63 ปีที่แล้ว

      @@MrDuncl yep ,many people are full of bull crap,I don't get taken in by any of them.

  • @Neddie2k
    @Neddie2k 11 หลายเดือนก่อน

    Did anyone hear the reason they pulled out of the deal.
    Was it price or something else.

    • @MonkDave666
      @MonkDave666 11 หลายเดือนก่อน

      Wife is leaving him for being so bad with money ser.

  • @christistruth3112
    @christistruth3112 ปีที่แล้ว +1

    im.in same boat.
    well about to make offer but decided to wait

  • @leenewell1447
    @leenewell1447 ปีที่แล้ว +1

    Good job you added the "(Buying a House in 2024)" to then title

  • @Loundsify
    @Loundsify ปีที่แล้ว +7

    Best of luck with your search. I'm also in the East Midlands. Definitely some unware boomers holding on for 2022 peak prices. They won't get those prices until 2027.

    • @bobjames6622
      @bobjames6622 ปีที่แล้ว +2

      MUCH better a home owning boomer than a non boomer renter!

    • @joannazian7699
      @joannazian7699 ปีที่แล้ว +2

      I'm in Bucks and also loads of boomers' properties with asking prices at the level of the peak of summer 22.

    • @SIXTl6
      @SIXTl6 ปีที่แล้ว +1

      Delusional 😂

  • @CC-kj5zh
    @CC-kj5zh ปีที่แล้ว +1

    This was very helpful thank you! 👍

  • @mssdn8976
    @mssdn8976 ปีที่แล้ว +3

    This sums up, to me, everything that is wrong with the English house sale system. You should have to pay at least a 5-10% deposit on agreement. You should have done the walk around before offering. This is what makes it so stressful and why I’m sitting in a house that is twice as big as we need. I don’t want to deal with time wasters. You should lose the deposit unless there is a reason discovered on the surveys

    • @teddyb4957
      @teddyb4957 ปีที่แล้ว +1

      Whilst I do not disagree with your point about the deposit, why are you sitting in a house that won't sell?..are you 'plagued' with 'timewasters' who all pull out once they find a dealbreaking point after making an offer that you haven't been honest about in the first place OR won't any of these 'timewasters' pay your [highly inflated] asking price...either way, the fact that you haven't sold your property is down to you, not them, as any property at the right price will find a buyer.

    • @mssdn8976
      @mssdn8976 ปีที่แล้ว

      @@teddyb4957 we haven’t put it on the market, we aren’t desperate to sell, we can afford to stay, just waiting for the right time. I’ve not seen any properties that I’d prefer over this one yet

  • @tamasveingartner4976
    @tamasveingartner4976 11 หลายเดือนก่อน

    9:53 minutes proving that you don't have to post just because you feel like you need to post something. There was zero value in this video, not what we are used to from you.

  • @summerjunk929
    @summerjunk929 ปีที่แล้ว +4

    used this tactic before but ended up with 2 kids

    • @khtan585
      @khtan585 ปีที่แล้ว +2

      Are you sure they are yours mate? ❤❤❤

  • @spiersey1
    @spiersey1 ปีที่แล้ว +1

    You should have done your due diligence before you made the offer if you are going to use pathetic excuses to let the seller down and I say pathetic because you don’t explain fully your reasons for pulling out. This is the reason why sellers are going to start to take out a service that makes the buyer sign paperwork that will mean they pay a fee if they pull out of a purchase for no valid reason except changing their mind. Estate agents who have offered this service have seen failed sales fall by 90%. You put the seller through the anguish of knocking them down in price by an outrageous amount and then pulled out anyway. You are selfish and thoughtless and only out for yourself without any thought for anyone else

  • @keypoint1293
    @keypoint1293 11 หลายเดือนก่อน

    What is the point of this a confession? You made a hasty decision when driving a hard bargain and then had buyer regret. The only one at fault is you.

  • @steve4479
    @steve4479 ปีที่แล้ว

    So why did you pull out then ?

  • @chrisb7324
    @chrisb7324 ปีที่แล้ว

    What was the noise issue??

    • @dragos_serghie
      @dragos_serghie ปีที่แล้ว

      someone farted in Scotland

    • @keypoint1293
      @keypoint1293 11 หลายเดือนก่อน

      It was in his mind.

  • @stuartjohncock4037
    @stuartjohncock4037 4 หลายเดือนก่อน

    Where's your posts on the Uk property market crashes? Gone quiet now

  • @robertwyatt6793
    @robertwyatt6793 ปีที่แล้ว +6

    Time waster

    • @andrewtaylor6737
      @andrewtaylor6737 ปีที่แล้ว +2

      I'd say the biggest time wasters are the ones putting their properties on at ridiculous over priced values and not excepting a penny less, these idiots will have a big wake up when things get really tough in our failing economy!

    • @ElliotAnthony
      @ElliotAnthony ปีที่แล้ว

      ⁠@@andrewtaylor6737 here he is again with the negative bullshit. Covid had us in steep economic decline, remind me again what happened to house prices during that time?
      Time to pack it in, you’re not fooling anyone.

  • @voice.of.reason
    @voice.of.reason ปีที่แล้ว

    It's always very difficult to pull out, but you have to or face 18 years of financial ruin

  • @HJM49125
    @HJM49125 ปีที่แล้ว +2

    Didnt give a reason. Unsubscribed!

  • @SoloSi2024
    @SoloSi2024 10 หลายเดือนก่อน

    First thing to check, council tax! Can you afford it? Second, if I move, will I be able to find a dentist? No to both, stay put!

  • @Angelajustin384
    @Angelajustin384 11 หลายเดือนก่อน +4

    I'm so happy I made the best decisions by having a good investment, Recently I was able to acquire my third house even as a single mom at 42 and I believe if things keep going well I would retire early„.

    • @DeborahRyan21
      @DeborahRyan21 11 หลายเดือนก่อน

      Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor to navigate this recession and achieve potential high yields.

    • @Angelajustin384
      @Angelajustin384 11 หลายเดือนก่อน

      I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver

    • @LeoGraysonn
      @LeoGraysonn 11 หลายเดือนก่อน

      Wow, so you achieved all that through the help of Mr. Jihan Wu? That's impressive because I have heard so many good things about him

    • @Alisalmanjiwani
      @Alisalmanjiwani 11 หลายเดือนก่อน

      How can I get in touch with this advisor as my portfolio isn't doing well?

    • @PaulaAdrian.
      @PaulaAdrian. 11 หลายเดือนก่อน

      The internet is filled with so many useful information about Jihan Wu.....

  • @tekkennady1662
    @tekkennady1662 11 หลายเดือนก่อน

    Disspaointed, this video doesn’t give any justification as to why you waisted decent people’s time by putting an offer in and then pulling out

  • @TheRedPersian
    @TheRedPersian 11 หลายเดือนก่อน

    Because all the neighbors didn’t pull out, the endless sounds of screaming babies and children have become a noise concern.

  • @edli323
    @edli323 ปีที่แล้ว +1

    you are so funny you spent the whole 2023 filming video for "UK house crash" and now you are trying to buy a house? Why don't you just wait for the crash?

    • @formetoknow540
      @formetoknow540 11 หลายเดือนก่อน

      He's doesn't know that's why you cannot time the market perfectly like this

  • @kevoreilly6557
    @kevoreilly6557 11 หลายเดือนก่อน

    Honestly : the title of this video should have been : “Helmet head pulls out”
    Joking aside : sorry to hear you had to make such a tough decision

  • @andrewtaylor6737
    @andrewtaylor6737 ปีที่แล้ว +4

    Dodged a bullet there bud! Another couple of years & we enter into a depression, you'd buy that property for around 200k less.

    • @CabinetFramingUK
      @CabinetFramingUK ปีที่แล้ว +5

      200k less! Go on my lad, few more pints of McDelusion and you’ll be set for life 😂

    • @andrewtaylor6737
      @andrewtaylor6737 ปีที่แล้ว +3

      @@CabinetFramingUK lol, you ain't seen nothing yet! Probably the sort of person who was a good little lad, & had your jib - jab 😉

    • @Palo-jm7xc
      @Palo-jm7xc ปีที่แล้ว

      There may well be a depression but asset prices will rise in the long term, but it won't be your everyday folk who cause it. There was lots of money created during covid and it didn't just disappear, it simply just changed hands into the pockets of super wealthy. They will begin buying up the assets to further increase/ preserve their wealth.

    • @davewright9312
      @davewright9312 ปีที่แล้ว

      ​@@andrewtaylor6737jealousy is a terrible character trait...come back in a couple of years and apologise for being a fool... I'm sure your landlord loves you paying him rent 🤣🤣🤣🤣

    • @andrewtaylor6737
      @andrewtaylor6737 ปีที่แล้ว +2

      @@davewright9312 I'm more than happy to come back in a couple of years & see where our Brexit economy is, and see where we're at.
      Thank you for mentioning but I'm not renting, nor would I ever want bricks & mortar ever again! I've had the 4 bed detached in an affluent area, but it doesn't make you happy!
      It's the younger generation I feel for trying to make a family in a country that's going down the toilet!
      Btw, I'm not a remoaner as I voted to get out of the failing club that will suffer even more than Britains failed economy 👍

  • @expatwealthasia8702
    @expatwealthasia8702 ปีที่แล้ว

    Great video! Thanks!

  • @TheSanddancer
    @TheSanddancer ปีที่แล้ว

    So the seller accepted an offer 21% lower than the original asking price. That's the reality, yet vested interests still trying to pretend everything is fine. Hilarious.

  • @joeyjoejo1234
    @joeyjoejo1234 ปีที่แล้ว +1

    Sorry but that was one of your worst videos, 8 mins of repeating yourself

  • @jakespeed6515
    @jakespeed6515 ปีที่แล้ว +1

    Children are expensive I don’t blame you!

  • @Raptrex9002
    @Raptrex9002 ปีที่แล้ว +2

    Fingers down 👎👎👎 Video content quality is each time worst . Time waster...

  • @philarmitage
    @philarmitage ปีที่แล้ว +5

    As soon as you offer it should be legally binding. Too many idiots about. The UK sucks for this.

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว +2

      And sellers are never idiots? 🤔

    • @philarmitage
      @philarmitage ปีที่แล้ว +1

      @@Bubbles77418 they are too and when the offer is accepted it should be legally binding. Works both ways. Hate the UK backwards approach to property transactions, it’s moronic.

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว +2

      @@philarmitage agree with that one. Trouble is there are too many dishonest people about. Maybe if there were financial penalties, they might think twice though!

    • @keypoint1293
      @keypoint1293 11 หลายเดือนก่อน

      It is in Scotland.

  • @Susan-z7m
    @Susan-z7m ปีที่แล้ว

    Auction penalty cost more than the house

  • @facilitator999
    @facilitator999 11 หลายเดือนก่อน

    Everyone kindly thumbdown the video.

  • @lousheeny
    @lousheeny ปีที่แล้ว

    “Why I pulled out” go on , tell Ez?

  • @RizoundProductions
    @RizoundProductions 11 หลายเดือนก่อน

    Im sure this is nonsense, this guy making a click bate video. If this guy is flippantly putting offers in his advice is tragic!

  • @vitmart
    @vitmart ปีที่แล้ว +5

    Loks like someone doesn't take responsibility for their actions😂
    Ludicrous "buyer always right' law is what brining this country to its knees..
    I hope seller response to your apology was- stick it where the sun don't shine😂

  • @tom24057
    @tom24057 9 หลายเดือนก่อน

    Hang on, as usual you were calling a big crash, now you’re looking to buy? … ok

  • @stephaniewray7783
    @stephaniewray7783 11 หลายเดือนก่อน

    You are what I call a waste of time. It took you 2weeks, to decide the property was not for you. After visiting several times. You have not said, why you pulled out. Disgrace😂😂

  • @ssjd396
    @ssjd396 ปีที่แล้ว +3

    Youve gone down im my estimation. Couldnt you go round multiple times before you offer? Sorry mate 👎

  • @dragos_serghie
    @dragos_serghie ปีที่แล้ว +1

    yap yap yap.. ol' man rambling.. this video should have been under a minute

  • @HaHa-bc4zr
    @HaHa-bc4zr ปีที่แล้ว +2

    Dose

  • @Dan-kr2hg
    @Dan-kr2hg ปีที่แล้ว +2

    You Pull Out, to not get them pregnant!

    • @Adelrawas1
      @Adelrawas1 ปีที่แล้ว +1

      Doesn't work. I have a proof and he is 4 this year

    • @Dan-kr2hg
      @Dan-kr2hg ปีที่แล้ว

      Haha, well I’m sure alls good

  • @slyteen2197
    @slyteen2197 11 หลายเดือนก่อน

    TH-cam is paying well then.

  • @cottontailblaze1980
    @cottontailblaze1980 ปีที่แล้ว +4

    50k less than the asking price because I spent it on paying for someone else's mortgage for the past year 😂

    • @Bubbles77418
      @Bubbles77418 ปีที่แล้ว +4

      Not sure there's many people paying £4000 a month on rent 🤣🤣

    • @Loundsify
      @Loundsify ปีที่แล้ว +3

      Knob.

    • @cottontailblaze1980
      @cottontailblaze1980 ปีที่แล้ว

      @@Bubbles77418 Factor in the transaction costs.Higher mortgage rates. Cost of rent. Cost of a refirb. Opportunity cost. Fact is he's down a house. This is the hidden cost of speculating on such a risky move

    • @maffseds
      @maffseds ปีที่แล้ว

      hahaha literally

  • @OliverMartiinz
    @OliverMartiinz ปีที่แล้ว +8

    Please,,how can I make profitable investment as crypto has become dominant ?

    • @ElizabethWilliams-b9c
      @ElizabethWilliams-b9c ปีที่แล้ว +1

      As a beginner, the best you can do to yourself is to get a professional that will handle your account and minimize lost to it's nearest rate.

    • @FrankThomas120
      @FrankThomas120 ปีที่แล้ว +1

      How can someone know a professional trader when legit once are very hard to find..

    • @JessicaDanielsonq3
      @JessicaDanielsonq3 ปีที่แล้ว +1

      ©Mrskarina Florence,, has really helped my life and entire family during last year. May the good Lord inspire you more 🙏🙏🙏 😍🥰🥳🥳.

    • @Romaryvictoria3651
      @Romaryvictoria3651 ปีที่แล้ว +1

      You've just made my day guys, I've lost so much trying to invest on my own..

    • @Romaryvictoria3651
      @Romaryvictoria3651 ปีที่แล้ว +1

      How do I reach out to her please?.

  • @ph8077
    @ph8077 11 หลายเดือนก่อน

    Jesus man....some things should stay in the bedroom!

  • @dar799
    @dar799 11 หลายเดือนก่อน

    Did you pull out because a pony 🐴 was not thrown in. You will keep pulling out and will be in rented

  • @MrJeffHead
    @MrJeffHead 11 หลายเดือนก่อน

    You have Andrew Tate like features.

  • @youtubeman5033
    @youtubeman5033 ปีที่แล้ว

    I’m into btl, and the other day I went to a viewing ,,there was 4 of us there and the agent turned it into a bidding war, it was a cash buy because of the performance cert, was an g the bidding went over the askin price more than I was willing to pay, the guy who bought said that was his third purchase of the day, ,,there’s plenty of money out there with cash buyers paying more than others me included houses are selling and there no shortage of buyers

    • @Palo-jm7xc
      @Palo-jm7xc ปีที่แล้ว +1

      There's plenty of wealthy people out there who have the cash and will eventuallt put it in to assets. I personally feel that once they get inflation under control, interest rates will settle and house prices will be back on the rise in the long run after this short term dip. It won't be your everyday folk pushing prices up though. This is just my opinion though.

    • @davewright9312
      @davewright9312 ปีที่แล้ว

      The vast ​majority of people who buy their home stay in their home between 7 and 20+ years and without a shadow of a doubt in those timeframes property prices increase very very significantly.so in reality for the bulk of homeowners temporary blips in prices have little effect as the empirical evidence shows that they will increase in value despite the doomsday brigades hopes and wishes@fjcruiserdxb

    • @Palo-jm7xc
      @Palo-jm7xc ปีที่แล้ว +1

      @fjcruiserdxb Yeah. No doubt about that.

    • @khtan585
      @khtan585 ปีที่แล้ว

      Talking up the market are we ???

    • @youtubeman5033
      @youtubeman5033 10 หลายเดือนก่อน

      Where I live the house prices have gone up not down, and with the high rates it’s not worth buying any more houses to rent out,