Did you PAY TOO MUCH in 2011?

SecondLegDownIsTheBigOne

There will always be some that are taken in by the spin. Personally, I'd have EAs and surveyors that deliberately or negligently overvalue prosecuted for fraud.

http://blogs.telegraph.co.uk/finance/ianmcowie/100013916/house-prices-will-fall-again-in-2012-surveyors-say-as-more-homebuyers-sue-for-negligence/

somethingcorporate

"While 2012 predictions may or may not come true, solicitors Irwin Mitchell claim there has been a 20pc increase in the number of people seeking to sue surveyors for negligent valuations which led to property being bought for more than it was worth in 2011"

This doesn't make sense. Something is worth what someone will pay for it, not a penny more and not a penny less. If they paid the asking price / surveyed price / didn't get a survey but paid the agreed price anyway that is what it was worth.

It just reeks of the lack of responsibility most people have in society nowadays and people looking to make a quick buck.

SecondLegDownIsTheBigOne

somethingcorporate wrote: »

"While 2012 predictions may or may not come true, solicitors Irwin Mitchell claim there has been a 20pc increase in the number of people seeking to sue surveyors for negligent valuations which led to property being bought for more than it was worth in 2011"

This doesn't make sense. Something is worth what someone will pay for it, not a penny more and not a penny less. If they paid the asking price / surveyed price / didn't get a survey but paid the agreed price anyway that is what it was worth.

It just reeks of the lack of responsibility most people have in society nowadays and people looking to make a quick buck.

By your logic it's OK to fleece vulnerable pensioners of their life savings for mobility scooters or double glazing simply because you have convinced them to pay for it. Nice.

somethingcorporate

Slightly dramatic interpretation, but I think we should allow adults to take responsibility for their choices, don't you?

Is that what you are advocating? that old people shouldn't be allowed to enter into contracts? Or shouldn't people be held responsible when they sign up for things?

Loopgames

somethingcorporate wrote: »

Something is worth what someone will pay for it, not a penny more and not a penny less. If they paid the asking price / surveyed price / didn't get a survey but paid the agreed price anyway that is what it was worth.

Not necessarily. If two identical cars are sold for two different prices just because the salesman was able to either fleece a vulnerable buyer over the more savvy buyer doesn't mean they are both correcly priced.

Furthermore the buck stops with the buyer to decide what is a good price for them. Ignorance unfortunately is not an excuse..the buyer must try to get the best possible price for themselves and ignore what the market tells them..just get savvy and aware of the how it works. Blaming surveyors for the price fluctuations is not the way to go.

SecondLegDownIsTheBigOne

Surveyors are being blamed for getting it wrong.

somethingcorporate

Loopgames wrote: »

Not necessarily. If two identical cars are sold for two different prices just because the salesman was able to either fleece a vulnerable buyer over the more savvy buyer doesn't mean they are both correcly priced.

Why is the purchaser always a "victim" or "vulnerable". When have we stopped taking responsibility for ourselves?

Citizens are not vulnerable prey to be feasted on at will by vicious, lying salesman - buying something is a 2 way street. If the buyer doesn't like the terms or the price then they walk away, it's not a difficult concept.

I have yet to see any evidence of salesmen holding actual guns to people heads.

SecondLegDownIsTheBigOne

somethingcorporate wrote: »

Why is the purchaser always a "victim" or "vulnerable". When have we stopped taking responsibility for ourselves?

Citizens are not vulnerable prey to be feasted on at will by vicious, lying salesman - buying something is a 2 way street. If the buyer doesn't like the terms or the price then they walk away, it's not a difficult concept.

So you do think that fleecing the vulnerable is OK? Nobody said that the purchaser is always vulnerable or a victim; sometimes they are.

I have yet to see any evidence of salesmen holding actual guns to people heads.

Are you sure?

somethingcorporate

Define vulnerable? If they are mentally incapable then they are unfit to enter into contracts and no I do not agree that this small section of society should be robbed from.

Are you saying all these home buyers were mentally unfit?

A picture of police holding batons is not the same as forcing people to sign contracts they do not understand.

King_Of_Bling

If you are too STUPID to buy a house, don't do it and continue renting...simple.

ruggedtoast

As far as I know surveyors come to a valuation by looking at the average for similar houses nearby.

If they've overvalued a decrepit property in disrepair which clearly isnt the same as the benchmark for the area, then they should probably be sued, otherwise its a matter of opinion surely.