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!

Remortgage Survey Valuation 40% below expected house value

2»

Comments

  • When_is_the_reset?
    When_is_the_reset? Posts: 216 Forumite
    Martinh wrote: »
    I
    The property below is known to me, the owner is a developer and is looking for quick cash to fund his business (hense the fire sale price).

    His 'fire sale' price would reset the area price for that type / size of property and affect your price too.

    Prices are set at the margin, one person selling cheap sends the market downwards.

    All good too, I say.
  • jamesperrett
    jamesperrett Posts: 1,010 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Martinh wrote: »
    Having dealt mainly in commercial property in my business life sqm values are easier for me to understand.

    I thought that you were a commercial property person the moment you started talking about cost per square metre. Unfortunately the housing market doesn't work that way. There is always a certain amount of depreciation on a new build which catches many people out. Location is another important factor - a commercial property on a main road my well command a higher price because it is easier to access while a house on a main road will almost certainly be cheaper than similar houses on quieter roads.

    James.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Martinh wrote: »
    The overall cost was circa £570k

    When was it completed? That might give us an idea.

    The Estate agent valuation seems far fetched in regards your costs and the housing market falling again. Sounds like the survey is closer to the truth.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    brit1234 wrote: »
    When was it completed? That might give us an idea.

    The Estate agent valuation seems far fetched in regards your costs and the housing market falling again. Sounds like the survey is closer to the truth.

    Again twit1234 - the housing market is not falling. Indeed in your area of West London, it is ramping along. Please stop spreading this nonsense - you are just starting to look foolish

    Why not stick with your fellow nutbags over on HPC.co.uk?
  • CloudCuckooLand
    CloudCuckooLand Posts: 1,905 Forumite
    nollag2006 wrote: »
    Again twit1234 - the housing market is not falling. Indeed in your area of West London, it is ramping along. Please stop spreading this nonsense - you are just starting to look foolish

    Why not stick with your fellow nutbags over on HPC.co.uk?


    As the OP is in South Lanarkshire, which IS seeing price drops, Brit's comment is not entirely unreasonable.

    http://www.ros.gov.uk/pdfs/Statistical Report(final) - Jan -Mar 2010.pdf

    "South Lanarkshire -1.4 Quarterly Change."
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
  • RecoveringAlcoholic
    RecoveringAlcoholic Posts: 936 Forumite
    The most expensive property I can find in ML8 is offers around £750k.

    And you get 1.5 acres.

    And it is suitable for [STRIKE]footballers[/STRIKE] sporting stars.

    And you get a bar.

    http://www.rightmove.co.uk/property-for-sale/property-29307701.html


    .
    Living Sober.

    Some methods A.A. members have used for not drinking.

    "A simple book for complicated people"
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    shoppaholic_returns wrote: »
    Maybe it was that your proerty was overvalued by the EA in the first place anyway???/

    The seller determines the selling price not the EA. EA's need sales to earn a living.
    The overall cost was circa £570k

    Suggests why the selling price is so high.

    Cost however does not represent value. The cost could include finance charges etc not just the actual land and build cost.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.6K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.9K Spending & Discounts
  • 244.6K Work, Benefits & Business
  • 599.9K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture