Help!!! Suspect fraud in valuation

BettiePage

Has she been back then?

magyar

Vanished... like an old oak table.

real1314

magyar wrote:

Vanished... like an old oak table.

No, that's varnished.

Couldn't resist.

Snow_Dog

Two beans and two beans in this case certainly dont make £237,500.

I couldn't resist either.

OP was probably a HPC plant/wind up, oh how the winter evenings must surely fly by. After all, life without a House Price Crash discussion would be like a broken pencil.........

magyar

Snow_Dog wrote:

Two beans and two beans in this case certainly dont make £237,500.

I couldn't resist either.

OP was probably a HPC plant/wind up, oh how the winter evenings must surely fly by. After all, life without a House Price Crash discussion would be like a broken pencil.........

Pointless!

lush_walrus

Helen_Samuels wrote:

The summary of my story is that I suspect a FRAUD IN THE VALUATION OF THE PROPERTY. I think the estate agents colided with the valuer to value the property high.

Ok, Ive read through the thread and no one seems to have actually got to the crux of this part of the 'fraud' complaint (sorry if I did miss it!).

There is absolutely no fraud in the estate agent valuing a property at the value a vendor wants to acheive, even if it is over and above the price that other properties are going for. Infact it is actually quite common in todays times of the internet for a vendor to think that they know better than the EA in what their property is worth.

Just to explain the process: A typical EA will value a property and stick the price they think it's worth in a letter to a vendor. Some are happy with this, and go ahead, some choose to go with another EA and some argue against it saying something along the lines of 'My neighbours sold for such and such price so I want to put mine up for that plus £5000 more' . So, what can you do, argue against them and try to explain why theirs is worth less than their neighbours, or not take the property on, or tell them that ok we think that is too much for the property, but we will try it at that price for you and review in x amount of weeks.

Now, someone will either come along and pay that price or no-one will buy it and it will sit there for months on end. There are lots of greedy vendors out there who think their property is better than anyone elses, but it is always your choice as a buyer to pay the price, or to see an overpriced property for what it is. As a buyer, you are valuing the property against what you think its worth.

Alan_M_2

The Estate Agent doesn't value it, a mortgage valuer appointed by the lender does.

Helen_Samuels

Hi All,

This is just a quick reply to people that think I ran away from the site, I haven't actually gone though all the messages posted yet but was a bit discouraged as I was receiving more of insults that advice as anticipated.

I am very happy for people to give their honest opinions but then I think unnnecessary insults was not really helping me .

I will definitely go through the thread today and reply. I have been away since xmas and just got back.

Best Regards

Helen.

zipwen1

lush_walrus wrote:

Now, someone will either come along and pay that price or no-one will buy it and it will sit there for months on end. There are lots of greedy vendors out there who think their property is better than anyone elses, but it is always your choice as a buyer to pay the price, or to see an overpriced property for what it is. As a buyer, you are valuing the property against what you think its worth.

yes but as buyers many of us don't know whether a house is worth it or not, that's why we employ people to give their educated opinion on it.
if the surveyor came in and said its worth the money and it wasn't, whose fault is it, i cant see how its the buyers.

dmg24

I doubt very much that the mods would pass your details on.