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AAARGH!!! Surveyor massively downvalues flat

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Comments

  • I was more shocked by the fact of adding a new kitchen and 2 new bathrooms added £75k to the value!

    That's not really how it works, is it.
  • hpifever
    hpifever Posts: 106 Forumite
    They saw you coming mate!
  • hpifever wrote: »
    They saw you coming mate!

    Yeah - I'm gutted to have only got £42k off the asking price...
  • hpifever
    hpifever Posts: 106 Forumite
    But desperate to pay £295k and then trying to convince themselves that £295k was a great price. Money spending expert!
  • Yeah - we were more than happy to pay that, given that it was the best flat we'd seen in 6 months. "Desperate"? Nah, just didn't want to lose the property.

    £295k is a good price - the price we paid is even more so.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Tim_Bisley wrote: »
    Yeah - I'm gutted to have only got £42k off the asking price...

    Value is in the eye of the beholder. Just like the Black Friday sales.........
  • Tim_Bisley wrote: »
    Yeah - we were more than happy to pay that, given that it was the best flat we'd seen in 6 months. "Desperate"? Nah, just didn't want to lose the property.

    £295k is a good price - the price we paid is even more so.

    Ignore shortchanged and hpifever, hate to have to belittle them but they're both incredibly jealous renters who constantly moan about people who can afford to purchase their own home. Sad but true, just check their post history, it's embarrassing.
  • Yeah - we can debate "the market" all day long. We are very happy to have picked up a nice flat that, for us, is very affordable. Works out at about £600 - £700 a month cheaper than renting the same size property!
  • Thrugelmir wrote: »
    Value is in the eye of the beholder. Just like the Black Friday sales.........

    Yes - the whole thing is EXACTLY like the Black Friday sales. Nailed it.
  • Tim_Bisley wrote: »
    Yes - the whole thing is EXACTLY like the Black Friday sales. Nailed it.

    It's not like that though is it. You have given you value on the flat based on it being the best one you saw in 6 months of looking therefore with an edge of desperation. Where it differs from black Friday sales is that you are trying to secure it with a mortgage. Therefore the lender needs a reliable valuation rather than the desperate version of its value. They have their value and you have yours and unless you get a big discount or can raise the difference than you're not going to get the flat. And by the way I'm not a jealous renter I have a large semi in Richmond upon Thames but I'm not daft about house prices like most people seem to be.
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