Estate Agents Valuations - Driving Me Mad!

googler

romi-j wrote: »

It may be irrelevant to the estate agent, however it is very relevant to me. I'm not prepared to lose £25k on my property because an agent can't be bothered to even view my property.

I'll refer you back to one of my previous posts - even if you DO lose a few thousand when selling yours, achieving that sale puts you in a better position for your forward move. You're better placed to offer on a property, because the seller will know that you've already secured a sale on yours and they don't have to wait for yours to come to market THEN sell.

Also, unless you buy in a radically different area from your current one - Aberdeen or London seem to be in a reverse of the general market at the moment - then if, say, you've dropped by 15%, you'd expect to negotiate for your purchase to be 15% away from peak as well. You may even be able to drive a harder bargain than this.

hazyjo

What price is the 'under offer' flat actually being sold for?

If you're saying you can't afford the ones near your in-laws now, surely in a rising market, they'd be up for way higher so you definitely wouldn't afford them... Obviously, they'll go up in percentage terms. Have you not got any savings you could use towards a deposit? Presumably, if you think you can afford a bigger house (if you had the deposit), you should have spare cash now? Can you really knuckle down and live on 'basic means' for the next year to save that deposit?

I'm with the others, I'm afraid. What you 'need' has nothing to do with what your property's worth.

People have lost loads on new builds. Ours was built 8-9 years ago and it's not looking like anyone's gonna come out with a massive profit! Prices used to roughly double over 10 years. The one we've just bought went up by around 8-9%

Keep us informed as to how the valuation goes.

Jx

sismith42

romi-j wrote: »

That's the thing, I am looking at a new property which is near my in laws and the prices are still high so therefore we would need a large deposit and in order to get that we would need to make a profit on our flat

Have you thought about part exchange with the builder?

googler

sismith42 wrote: »

Have you thought about part exchange with the builder?

...or negotiating with the builder?

romi-j

hazyjo wrote: »

What price is the 'under offer' flat actually being sold for?

If you're saying you can't afford the ones near your in-laws now, surely in a rising market, they'd be up for way higher so you definitely wouldn't afford them... Obviously, they'll go up in percentage terms. Have you not got any savings you could use towards a deposit? Presumably, if you think you can afford a bigger house (if you had the deposit), you should have spare cash now? Can you really knuckle down and live on 'basic means' for the next year to save that deposit?

I'm with the others, I'm afraid. What you 'need' has nothing to do with what your property's worth.

People have lost loads on new builds. Ours was built 8-9 years ago and it's not looking like anyone's gonna come out with a massive profit! Prices used to roughly double over 10 years. The one we've just bought went up by around 8-9%

Keep us informed as to how the valuation goes.

Jx

We are in a listed building which was built 12/13 years ago and is considered to be an iconic building due to the architectural awards it's won so I wouldn't expect to lose as much as I would if it was a new build.

We have got savings but job security for myself isn't great so worried incase we just scrape by and then I lose my job. To be honest I wouldn't even want to move if we weren't looking to start a family, but we will eventually have to.

Was just looking for some advice in these difficult times and will see how I get on with the Home Report valuation.

romi-j

googler wrote: »

...or negotiating with the builder?

Was considering part exchange but they take a large percentage (builder is Taylor Wimpey).

Tried negotiating but don't get very far because the first question they ask is "Is your property up for sale?".

That's one of the reasons also that I was wanting to put the flat up for sale, in order for me to try and negotiate with the builder.

googler

romi-j wrote: »

Was just looking for some advice in these difficult times and will see how I get on with the Home Report valuation.

We could give you more useful advice if you addressed the actual questions that are being put to you, such as;

Have you spoken with the agent(s) marketing the other flats in the building?

Have you established what the Under Offer one has sold for?

Have you established what the HR valuations are on the others?

etc etc etc

Hazyjo asked "What price is the 'under offer' flat actually being sold for?"

...and you struck off at a tangent without any mention of the question......

googler

romi-j wrote: »

We are in a listed building which was built 12/13 years ago and is considered to be an iconic building due to the architectural awards it's won

Built 12/13 years ago, not converted? And it's Listed?

honey9

I have to say that as a recent buyer, I did not give a flying toss about how much vendors thought their house was worth or how much they needed to pay off the mortgage/make a profit. When you're buying a property you are acting in your own interests, not those of the vendor - buyers aren't there to do you a favour, they want to get as much as they can for as little money as they can.

Same with EAs - I imagine they will have a reasonably realistic idea of what your flat is worth to a potential buyer and that's the number that matters, not what you want to make out of it. It doesn't excuse the EA's rudeness though.

romi-j

googler wrote: »

We could give you more useful advice if you addressed the actual questions that are being put to you, such as;

Have you spoken with the agent(s) marketing the other flats in the building?

Have you established what the Under Offer one has sold for?

Have you established what the HR valuations are on the others?

etc etc etc

Hazyjo asked "What price is the 'under offer' flat actually being sold for?"

...and you struck off at a tangent without any mention of the question......

I guess I came on here for more of a rant after being laughed at by Estate Agents and by them not even making the effort to view my property.

Sorry for posting and wasting your time.

And in response to your question or questions, the flat is under offer for offers over £125k, I have one of the agents who listed this property calling me back tomorrow, I have not determined what the Home Reports were priced at and as I said numerous times, I am not in a rush to sell.

I was hoping to put it on the market and if it sells, it sells.