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House valuation concern
evansc1
Posts: 131 Forumite
Hi all,
Off to view a property that ticks pretty much all the boxes for us.
I was researching local sale prices and noticed that the house has been sold in April 2016. Asked the EA and all was explained - marital split so partner bought out partner. House on market currently for £150k (guide price). The purchase price in April for that buy out was £90k.
I'm concerned that if we love the place and put an offer in that the valuation will be taking the £90k in to account as i'm not sure the valuer will do the level of research that I have?? The highest selling price on the road 'recently' was £125k in 2014 so thinking it's a little overvalued anyway, even though it's a lovely property.
Do you think there could be a potential issue there with getting fair valuation from the bank?
Tah
Off to view a property that ticks pretty much all the boxes for us.
I was researching local sale prices and noticed that the house has been sold in April 2016. Asked the EA and all was explained - marital split so partner bought out partner. House on market currently for £150k (guide price). The purchase price in April for that buy out was £90k.
I'm concerned that if we love the place and put an offer in that the valuation will be taking the £90k in to account as i'm not sure the valuer will do the level of research that I have?? The highest selling price on the road 'recently' was £125k in 2014 so thinking it's a little overvalued anyway, even though it's a lovely property.
Do you think there could be a potential issue there with getting fair valuation from the bank?
Tah
Mortgage - £124,903 Sept 2016-Jan 2017 OP target £1,750/[STRIKE]£1,550[/STRIKE]
0
Comments
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There might be but you can cross the bridge when you come to it, presumably it will be easy to challenge this if the valuer just looks up last sold price and you could even be proactive and supply some info to alleviate the possibility.0
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