We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Selling in Scotland - the effect of the valuation in the Home Report
Bean_Counter
Posts: 1,496 Forumite
Hi,
We are considering putting our property on the market, and commissioned one of the new Home Reports.
Of course part of the report is a valuation. My question is whether in the current climate, is this valuation going to define a likely ceiling that anyone will pay for the property? I would have thought that most buyers would think this is all the property is worth and many make indeed make an offer below that figure.
Thanks.
We are considering putting our property on the market, and commissioned one of the new Home Reports.
Of course part of the report is a valuation. My question is whether in the current climate, is this valuation going to define a likely ceiling that anyone will pay for the property? I would have thought that most buyers would think this is all the property is worth and many make indeed make an offer below that figure.
Thanks.
Today is the first day of the rest of your life
0
Comments
-
Bean_Counter wrote: »Hi,
We are considering putting our property on the market, and commissioned one of the new Home Reports.
Of course part of the report is a valuation. My question is whether in the current climate, is this valuation going to define a likely ceiling that anyone will pay for the property? I would have thought that most buyers would think this is all the property is worth and many make indeed make an offer below that figure.
Thanks.
I've not bought or sold for a few years.
Is the home report now a definate requirement?
As for the valuation, it is no different to a survey which was always a requirement for the mortgage lenders.
There is a lot of factors as to whether people take this as a cap or offer above / below such as the level of people noting interests or the how the specific area / properties in your area are faring.
The valuation would be used for mortgage purposes:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
As a buyer I would say: definitely yes.0
-
IveSeenTheLight wrote: »Is the home report now a definate requirement?
In Scotland for homes new to the market from 1 December 2008, then yes it is.Today is the first day of the rest of your life0 -
I'd say it depends on how 'in demand' your house is likely to be.
If you have a unique, desirable, one-off property, then, given sufficient interest, people may be likely to bid over and above the surveyors valuation figure because they REALLY want your house.
If there's very little to distinguish your house from the others in the street or local area, I'd suggest the valuation figure in the HR will truly be a ceiling figure.
For a large sector of the market, it seems the Offers Over system may well become a thing of the past.......0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards