Watched Phil & Skitsy last night and, as usual, prepared to watch them trying desperately to haggle someone down by five grand on a half million pound house - which we all know is practically impossible to achieve in a recession
Usually I don't know any of the properties they feature but last night - Bingo!
They had a couple who wanted to buy a 2 bed flat in Charlton on the market at £199950.
Phil begrudgingly pointed out that the gutterings and fascias needed replacing but that a builder had said "it wouldn't worry him" - ha ha - presumably because (1) he's a builder and (2) he's not buying the place
This flat had been on the market for a fair old while with no takers possibly because (as Phil eventually revealed) it was nearly down to 70 years on the lease so was virtually unmortgageable.
The couple loved it - and Phil suggested bidding £193,500 (I nearly peeed myself at that point) which he thought was really a low offer because the vendor was going to extend the lease, and really, they were lucky the price was being increased!!! (on an otherwise unsaleable flat)
The vendor rejected £193,500 - Phil talked the couple up to £197,500 - the vendor rejected that too - but finally relented at £198,000.
Phil Spencer, in one of the most stagnant housing markets of all time, on a flat which was practically unsaleable, had achieved the princely discount of 1% off the asking price.
In the closing roundup, it was revealed that the couple had pulled out because the vendor was dragging his heels (having not found a place to move to when putting the flat on the market).
So the vendor lost the sale of their flat at £198,000 - Cheers Phil - mine's a Bolly!
The same flat is now on the market at £179, 950 including a newly extended lease.
The couple - no thanks to rubbish Phil (ace negotiation skills) - had a very lucky escape from wasting £20k.
The vendor must be kicking themselves - £20k - they had it and blew it!
They probably won't get £179,950 now either.
But Phil, who is supposed to research the market and act for the buyers in the show - almost royally shafted them.
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Location Location - talk about overpaying!!!
30 replies
wherearemysheets · 25/01/2013 11:06
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