Estate Agent devaluing house because it's Concrete?

stief

We're thinking of selling our house and so far have had 2 estate agents value it and there's a difference of 15k between the amounts... the lower amount... the estate agent said as it's "Wimpey no fine" or something like that ie concrete (1950s ex council house, pebble dashed) it's worth less than others because mortgage lenders don't lend well on those houses and don't give 100% mortgages so they wouldn't get many interested in the house... thus the lower price.....

>.<

Is this true?

The higher amount estate agent said "don't let others fob you off with higher evaluations as they'll keep bringing the price down by 10k each week and that his evaulation was fair".

Meat market out there and no idea what to trust.

Caroline73_2

Try getting a third EA and see what they say. That should give you a bit more of an idea which of three first two was nearer.

Are there any similar properties to yours that have sold recently near to you?

Emmzi

is it actually of concrete and steel construction?

Or is it brick with a pebbledash facing?

Makes a HUGE difference!

stief

Yeah, I have a 3rd coming this afternoon so will wait and see... hope it follows one of them and not something completely different again >.< Not many have been up for sale in my area (very rural village- hard to price) last one sold in 2009 that was similar ish...

I think it's concrete, impossible to drill into the walls, it's grey...

DannyboyMidlands

Mortgage lenders don't give 100% mortgages on any house.

stief

That's good to know thank you!

Yorkie1

What did your survey say about its construction when you bought it?

birkee

They don't like none standard builds. (Bricks and mortar.) And even then, there are some types of brick they don't like.

TrixieB

am an avid viewer of "Homes Under the Hammer" and they are always having properties made of non standard construction materials on and always say how mortgage companies don't like lending on them and that they are valued less that standard construction.

vickyj

There is some truth to this unfortunatly. There are always extra bits involved in non standard builds. We had no real problems when we bought/sold our old one but we did have to jump through several hoops with the mortgage company regarding extra surveys and stuff due to the concrete cancer hazzard that can unfortunatly be present.
Good luck x

stief

Yorkie1 wrote: »

What did your survey say about its construction when you bought it?

I can't remember off hand, but will check it out and post back