2 low valuations on dream house!

Hello123_2

It has been valued at £125k-£140k. THAT IS THE VALUE AT THE CURRENT TIME IN THE MARKET. Fact. IT IS NOT WORTH £160K+ NO MATTER WHAT THE ESTATE AGENT OR SELLER SAYS!!!!!!

I appreciate 'others have gone for more etc' but surveyors are qualified and obviously have reasons for valuing at this. Reasons you are probably unaware of/do not understand since you are not a qualified surveyor (no disrespect). Please stop torturing yourself by looking at other sold prices. The economy is all over the place too so each day is different for property.

My advice: You offer £125k-£140 MAX BECAUSE THAT IS HOW MUCH IT IS WORTH WHETHER YOU LIKE IT OR NOT. If the seller refuses...YOU WALK AWAY. NO MORE VALUATIONS. Think with your head not your heart.

No lender will lend the equivalent of a £160k+ mortgage (ie with deposit) if THEIR surveyor says it's worth £125k-£140k. It's not personal and it's NOT YOUR PROBLEM. It's actually the sellers problem. Tell the seller it is worth £125, take it or leave it. Fine, let other potential buyers offer £160 (prob dont even exist - oldest trick in the book for Estate Agents) BUT THEY WILL HAVE THE SAME PROBLEM since most lenders use a panel of the same surveyors!

On the flip side, I really cannot understand for the life of me why on earth you 'want' the house to be valued at more when you are the BUYER. When you come to sell it is likely you would be in negative equity so get a grip now (no offense) whilst you are still in control. If you pay over the odds for this you could seriously regret it.

If it was me I'd offer £125 - take it or leave it. Seller will prob refuse but bet it will remain on the market going stale. Then you go back in a few months and offer again - once the seller & Estate Agent have realised THEIR problem.

Remember YOU are the one in control here - not the seller. Sorry to sound harsh but houses come & go on the market everyday... it could be a sign that this actually isn't the 'one'. Good luck!

Zoe-Chloe71

I'm not going for more valuations. Once we have the report we'll alter our offer to within what it has been valued at, and as you say, if they refuse, so be it. And yes, it is helpful to be reminded to think with head, not heart; thanks. I have found it difficult to let go, because it appeared so right for so many reasons, and we hadn't seen anything that came close to what we wanted for this price!

I wouldn't trust a word estate agents say, don't worry. This one told me he had another buyer lined up, then tried to persuade me to get another valuation done, then said he had someone going for a 'second viewing' this weekend. He is in fact David Brent.

katejo

Zoe-Chloe71 wrote: »

P.S I don't want to overpay, but the £125,000 didn't appear consistent with the evidence we've seen. In this area, you cannot buy a large 4 bed house with a big garden for £125,000, (unless there is something structural), even after the price drop. (is there anywhere you can, yet?) So it was lose the sale or a 2nd opinion. The noises we are hearing means that seller I think, will still want to try another buyer to see if she can get the £162,000. What do you think her chances are??

Wait until you have been able to read your surveyor's report. It may reveal problems not obvious to you. Back in 1993 I offered about 48K on a flat but the survey revealed several problems including serious wet rot in the window frames. The owner had had them painted over to cover it up. I asked the seller to reduce the price but she refused so I pulled out. I later heard from another agent that the seller had had serious negative equity and so had wanted more than the flat was worth.