Putting a house back on the market after downvaluation.

hazyjo

How much lower than the agreed selling price was it valued at?

Jx

myhouse_2

Evidently the EA didn't think that the surveyor was being unreasonable with his valuation. Ask the EA and check the internet to see if there are comparable properties sold recently. If there are ones that sold for more, you might be able to negotiate with the EA.
Remember though, your opinion of the valuation doesn't mean anything in a falling market. If I was an EA and felt the price was excessively high, I wouldn't want the house on my books either. The same things is likely to reoccur.

Mr_GB

geoffky wrote: »

shared ownership is for the financially iliterate.... this post screams of it.

Perhaps you should concentrate on your use of the English language instead of commenting on my finances, of which you clearly know nothing about.

Anyway, my apologies for not replying sooner to this topic, thank you ever so much to all the helpful posters and discussions.

I have dropped the price to the down valued price and I've also dropped the premium, so we'll see what happens in the New Year.

Thanks once again!

Catatonia

Is the original buyer not interested if you've reduced to the valuation figure?

geoffky

Mr_GB wrote: »

Perhaps you should concentrate on your use of the English language instead of commenting on my finances, of which you clearly know nothing about.

Anyway, my apologies for not replying sooner to this topic, thank you ever so much to all the helpful posters and discussions.

I have dropped the price to the down valued price and I've also dropped the premium, so we'll see what happens in the New Year.

Thanks once again!

So where is your original buyer? i thought you said you were not selling it at the price the survey valued it at, good luck anyway as i feel you have yet to have your light bulb moment.. but remember one thing,a house is only worth what someone will pay for it..

evoke

As a seller I have to agree with all the 'negative' (but realistic) comments. Your property was valued at well below the accepted offer. The buyer won't get a mortgage. You have lost the sale. It will happen again and I can see estate agents not rushing to try and sell your property.

I've got the opposite problem! I want to lower my price by 10% but both of my EAs are refusing to do it until well into next year. You couldn't make it up!

Pimperne1

The EA is only interested in selling, if he thought he could get a sale at this time of year he would suggest you throw you wife in with the property. Get another EA and tell this one to sling his hook.

Pimperne1

evoke wrote: »

As a seller I have to agree with all the 'negative' (but realistic) comments. Your property was valued at well below the accepted offer. The buyer won't get a mortgage. You have lost the sale. It will happen again and I can see estate agents not rushing to try and sell your property.

I've got the opposite problem! I want to lower my price by 10% but both of my EAs are refusing to do it until well into next year. You couldn't make it up!

I could have cut and pasted most of my last post. Tell your EAs to sling their hook - if you want to sell something now at a price you can achieve now rather than wait then who are they to tell you. This reminds me of when you see adverts that say "Ford Escort £1500, new baby forces sale" - cheeky little blighters.

myhouse_2

Pimperne1 wrote: »

The EA is only interested in selling, if he thought he could get a sale at this time of year he would suggest you throw you wife in with the property. Get another EA and tell this one to sling his hook.

Clearly it's your choice what price you put it on at, as long as you can find an EA that will list it at that price.
On the other hand, since future valuations are likely to be similar to the last, you need a stupid cash buyer who doesn't care he's paying more than the valuation. Sounds likely that you'll be waiting for this house to be sold for some time, and will be wasting a lot of your time and buyers' time.
If it was me, and I wasn't in a rush to sell, I'd reduce the price to a bit above the valuation - buyer's won't pay a lot over the valuation, but some will stretch a little beyond, if they like the house.

puddy

what is a premium?