valuation advice urgent

pippins_2

hi....don't know if you have tried this but have you thought of maybe asking the people that you are buying from if they would be prepared to drop their price to enable the sale to still go ahead? Could be worth a try as this happened to my friend and she approached her vendors at first they was none too happy but two days later they got back to her and agreed to lower by 15k, they really needed the sale too !!

mystic_trev

rach - My gut feeling on this ia that you'll get your asking price from the buyer - so you're right not to drop the £15,000. I know it's a bit of a gamble, but that's all "part and parcel" of the Property market game! Let us know what happens.....and good luck!

Mr_Blek

Have you thought that they are actually offering what you house is worth?

House prices don't always go up. Remember the last housing crash of the 90s?

rach29

I hope you are right mystic trev, this seems to be a staring competiton and it will be a case of who blinks first!!

Pippins, we would try this, and in the end we may have to however the house we want to buy was reduced from £359k to £339 the week we viewed it and we agreed £330 with the vendors who are 3 beneficiaries from a probate sale. Property needs some work but comparable property fully improved would be £380k so we think we have a great deal & that the vendors are extremely unlikely to drop the price further. We'll see

rach29

Mr Bleck, time will tell, however, we subscribe to the idea that a house is worth what someone is prepared to pay for it. If it were overpriced we wouldn't have got 2 offers in 2 days. Have a look at the link in an earlier post & see what you think??

pippins_2

Never know til you try..maybe all 3 in the chain can negotiate and come to an agreement...good luck.. Shall be putting ours on market in March and dreading it ( even though i work for an estate agent ...lol)

anticlaus105

I think you are now feeling the blunt end of the housing market becoming a buyers market. The last few years have seen rampant HPI and people have jumped in without thinking twice even offering over the asking price to secure a property. There is now a distinct reduction in firstime buyers and people are getting more bearish about property.

You may well get the full asking priceif you wait but if the economy/property market deteriorates you may end up chasing it down. No one knows if this will happend but I personally feel it a distict future possibility.

On the plus side if this does happen it wont matter because wherever you move to will reduce in price also (this does depend on region tho). If you are trading up, due to the reduced percentage in property prices you would actually be better off.

In this case you can't loose so stick to your guns. Just be prepared to wait if prices do look like they are starting to fall don't have your blinkers on or you will be waiting a long time.

rach29

Thanks anticlaus, we will continue with discussion with EA & see what transpires. If we lose our buyer it will be time to review.

recovering_spendaholic

I think you are right not to cave just because they say the house is worth less according to their valuation. I just looked at the pictures of your house and the other one and I think your house looks lovely and I am sooooo envious that you can get something that big and nice for £285k - I would pay it if I was moving to Swindon lol! I sold my Aunt's house last summer and the people who were buying it said that they could only offer £225k as that was all that it was worth, so I got my own survey and valuation done by a local surveyor and that came in at £245k - I said I would not sell to them and they almost immediately came in with an offer of £240k which I accepted, but I think I could have pushed further but my Aunt needed the sale to fund her move to a nursing home so... Are you in a mad dash to sell or might it be worth trying a different EA?

Poppy9

Is there another EA you could ask to come and value your house with a view to moving it to them to sell?

Also since you accepted the offer has the current EA had any enquiries about your property. Whatever I would tell them to start actively marketing again and tell them you are thinking of swopping agents.. Then when they speak to the buyer they can tell them you are not accepting and remarketing.

Pictures of both houses were lovely. Hard though to judge the value of either without knowing the areas, roads etc. So many factors affect house values that 2 identical houses in one street can sell for £30-50k more. This happens in my road as some houses have very small back gardens and smaller low set plots overall. Others with large back gardens and set up higher (so better sea views) sell for much more very easily.