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[Rods2]

We all live on planet Earth, but when it comes to property prices there is also a place called planet London. 

Well to some extent yes, if it's the right postcode.

I'm trying to sell my house. Rail station 3 minutes walk. West End 30 mins, City 25 mins. BS Estate agents say "OH YES!  there's a shortage of properties like this". But in a few months no sale, based on their own valuation. Just changed to an agent with a reputation for aggressive sales methods. Wait and see now.

IME if a property doesn't sell then the agent is poor or has been too optimistic on the price.

[chrisgixer]

That is the bottom line  - plus the stress and now a court case. I do not think he was being greedy either - someone came to him with a proposition which wad flawed and builder is out of pocket and he breaks even. Valuers got it wrong but he was part of the risk taking

Surely he made a profit from the initial deal with the builder though?

[Shackeng]

That is the bottom line  - plus the stress and now a court case. I do not think he was being greedy either - someone came to him with a proposition which wad flawed and builder is out of pocket and he breaks even. Valuers got it wrong but he was part of the risk taking

Based on what you've told us, this will only cost him more money, to the delight of his lawyers!

[pscocoa]

That is the bottom line  - plus the stress and now a court case. I do not think he was being greedy either - someone came to him with a proposition which wad flawed and builder is out of pocket and he breaks even. Valuers got it wrong but he was part of the risk taking

Based on what you've told us, this will only cost him more money, to the delight of his lawyers!

Difficult to tell at this stage - there is arguably an agreement to sell at a minimum price and this is the bone of contention. He also had to bail out the builder to make sure the project was completed and that 6 figure sum had also to be recovered.

Having said we would all prefer a stress free down sizing - some cannot miss the opportunity to engage in something which is clever but risky and s**t happens