How do valuers sleep at night????

Sox77

I really sympathise with the pain of house selling, had to sell my house in negative equity, paid £115k for it, spent around £7k on it and then sold it a few years later for just under £90k. It really stung, but unfortunately I just bought and sold at the worst time possible and I had to sell so couldn't wait. I try not to think about it too much - or the fact that I owe my parents money for helping me cover the negative equity...

If I could have bought at the same time it probably would have been a wash but I couldn't, and me and DH now rent and are trying to save to buy again :cool:

Mealyn

Thanks for your responses to my experiences with selling my house. It is not our current buyers who are at fault or 'cheating' but my experiences of the other three buyers who pulled out at contract exchange. Our buyers can well afford more as they have a whopping deposit to lay down. i was told they are borrowing only half of the actual cost of the house which i have dropped by £20000 to reflect the market conditions and to attract buyers. The last surveyor was only last month and the house was valued for mortgage purposes much higher than now. Thats why I find it difficult to correlate the drop in price in just over a month. i could accept maybe a couple of thousand but not £7000 in one month. Perhaps I am just worn out with it all, but we will have to accept the current offer by the surveyer. Anyway thankyou for reading and commenting - it does help

Transient_2

Mealyn wrote: »

Thanks for your responses to my experiences with selling my house. It is not our current buyers who are at fault or 'cheating' but my experiences of the other three buyers who pulled out at contract exchange. Our buyers can well afford more as they have a whopping deposit to lay down. i was told they are borrowing only half of the actual cost of the house which i have dropped by £20000 to reflect the market conditions and to attract buyers. The last surveyor was only last month and the house was valued for mortgage purposes much higher than now. Thats why I find it difficult to correlate the drop in price in just over a month. i could accept maybe a couple of thousand but not £7000 in one month. Perhaps I am just worn out with it all, but we will have to accept the current offer by the surveyer. Anyway thankyou for reading and commenting - it does help

You are probably worn out and that is fair enough but as someone looking to buy there is a couple of points I would like to mention.

You feel you have dropped the price to reflect market conditions whereas from a buyers perspective it was overvalued by 20k. The further 7k drop is probably due to at present further worsening conditions for selling and it certainly doesn't appear to be getting any better.

Also you cannot state the assumption that the buyer can afford more. No one can dictate what the buyer should have to put down. It sounds like they are being cautious and professional, something long overdue.

I'm really not trying to have a go and I can sympathise from your side but I think overall you should be happy you managed to get rid as it doesn't appear conditions will improve for some time, and good luck.

ILW

The place appears to have Artex ceilings. That should knock at least 50% off.

brit1234

Mealyn wrote: »

Anyway the house has been valued by three different valuers and no problem with the house price. In fact one valuer hinted that we were underselling the house. Now for the fourth time it has been valued and the surveyer we learnt was derogatory about the house and knocked £7000 of the price. The house has been dropped in price to reflect the market conditions and we can barely afford to have it knocked down from the asking price agreed between ourselves and buyer.

Your are aware from the time of your 1st survey till 4th that house prices have been falling? Unless you read the daily express. That could easily cover the drop.

ukcarper

brit1234 wrote: »

Your are aware from the time of your 1st survey till 4th that house prices have been falling? Unless you read the daily express. That could easily cover the drop.

Another silly post you have no idea when the first survey was or where the house is.

ciano125

Mealyn wrote: »

Our buyers can well afford more as they have a whopping deposit to lay down. i was told they are borrowing only half of the actual cost of the house which i have dropped by £20000 to reflect the market conditions and to attract buyers.

So what if they can afford to pay more for your house. Why should they? It's their choice to spend x% of their income on a house, you don't have to accept it if you don't like it.

You've dropped the price to a realistic level, which has attracted buyers. It's now priced correctly obviously, regardless of whether or not the buyers can afford to pay more.

Borrisx

Mealyn wrote: »

Our buyers can well afford more as they have a whopping deposit to lay down. i was told they are borrowing only half of the actual cost of the house which i have dropped by £20000 to reflect the market conditions and to attract buyers.

I'm sorry to say that the fact they have a substantial deposit is neither here nor there. If it was worth what it was initially up for then it would have sold during that time. It's never a nice experience selling something that you believe to be worth more.

brit1234

ukcarper wrote: »

Another silly post you have no idea when the first survey was or where the house is.

Why? The property has been on the market since the start of the property crash. With all the property enquires you would think the surveys may of covered some of that time and not all 4 concentrated in the last week.

Its not silly its logic.;)

HAPPY_BEING_A_YUMMY_MUMMY wrote: »

WE HAVE HAD A HOUSE ON THE MARKET FOR THREE YEARS NOW - BELONGED TO MY PARENTS WHO HAD TO MOVE OUT AFTER 55 YEARS AND WE HAD THE WHOLE HOUSE REFURBISHED BEFORE PUTTING ON MARKET.

IT FIRST WENT ON THREE YEARS AGO FOR £450,000 - WE KNEW THAT WAS OPTIMISTIC BUT AS IT WAS IN AN AREA WITH ITS OWN LITTLE MICRO CLIMATE OF VALUE WE TRIED TO BE OPTIMISTIC WITH THE ADVICE FROM THE ESTATE AGENT.

ukcarper

brit1234 wrote: »

Why? The property has been on the market since the start of the property crash. With all the property enquires you would think the surveys may of covered some of that time and not all 4 concentrated in the last week.

Its not silly its logic.;)

As I said you don't know when it was put on market or where it is.

You were replying to another poster also in most areas property prices dropped then recovered and then dropped again.