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flat down valued
ctophe
Posts: 7 Forumite
Hi Folks, wondering if you have any suggestions or tips
we put our flat on the market for 150k and had an offer for that amount the next day... with 6 more viewings booked in we told the buyer it would take 160k to take it off the market. They offered 157k and we accepted.
Their survey has valued our flat at 145k! gutted! the buyer has said they are no longer willing to pay 157k.
thing is, there's plenty of 1 bedroom flats similar or worse to ours that are STC on rightmove for 150-175k.
what do we do?
we put our flat on the market for 150k and had an offer for that amount the next day... with 6 more viewings booked in we told the buyer it would take 160k to take it off the market. They offered 157k and we accepted.
Their survey has valued our flat at 145k! gutted! the buyer has said they are no longer willing to pay 157k.
thing is, there's plenty of 1 bedroom flats similar or worse to ours that are STC on rightmove for 150-175k.
what do we do?
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Comments
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Look at the completed sold prices not SSTC. SSTC listings show the originally advertised price, not the agreed sale price.0
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thing is, there's plenty of 1 bedroom flats similar or worse to ours that are STC on rightmove for 150-175k.
That means nothing. You can't tell what offer was accepted and they might have the same problems with valuationwhat do we do?
Either negotiate or re-market.0 -
There's plenty of 1 bed flats sold 160-180k around the area... also lots selling for 130-150k0
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is it possible that another buyers lender will value it at what we're pitching it at,or are they all likely to down value?0
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There's plenty of 1 bed flats sold 160-180k around the area... also lots selling for 130-150k
I'd just leave it on the market and see if another buyer's surveyor thinks it's worth as much as they offer.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
is it possible that another buyers lender will value it at what we're pitching it at,or are they all likely to down value?
What are you pitching it at? You were asking £150k originally, presumably you must have been expecting offers it the £147k-£150k region until you were seduced by the £157k offer.0 -
well yeah we thought 150k would be good but clearly people are willing to pay more, and with a bit of research there are plenty of other 1 bedroom flats in exeter city centre around the 160k mark. i guess if we put it back on the market it'll be 155k?0
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There's plenty of 1 bed flats sold 160-180k around the area... also lots selling for 130-150k
And which are closest in likeness to yours? The buyer can ask the valuer to review their decision (although it sounds like they don't want to), but for the future it would be helpful if you could gather together examples of very similar sales as evidence.0 -
there are similar properties for 140k and there are also similar, and worse, properties for 160k... very confusing!0
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i tried to post a link but i wasn't allowed to0
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