Huge discrepancy in valuation.

MONEYTREE_2

Adrian I did post a thread on MSE asking where I could put this money for maximum return whilst keeping it available and the answer was, I cannot get more than 1% without risk and with instant access.

AdrianC

MONEYTREE wrote: »

Adrian I did post a thread on MSE asking where I could put this money for maximum return whilst keeping it available and the answer was, I cannot get more than 1% without risk and with instant access.

"Without risk" is impossible. To get as close as realistically possible would require you to spread it across five different banking groups, for a start, to remain within the FSCS.

There are several places I can think of straight away to get you 3-4%, instant access with very low risk - not that you would need instant access anyway, because you would have months to liquidate investments prior to exchange and completion. But that's all for a different part of this site - and, more importantly, it's a separate matter if rental would really not be feasible for you. From what you've said, I think it would be, if you really wanted or needed to - but I obviously only know what you're written here.

I still think that you should be able to find plenty of comparables that'll give you a good indication of a realistic value, whatever the EAs say.

MONEYTREE_2

I'd love to know where I could get 3% to 4%. I cannot find anywhere. Nobody said that when I posted a thread in the correct place asking where I could put 350k --- why don't you reply to me on that thread, please?

AdrianC

MONEYTREE wrote: »

I'd love to know where I could get 3% to 4%. I cannot find anywhere. Nobody said that when I posted a thread in the correct place asking where I could put 350k --- why don't you reply to me on that thread, please?

I don't tend to hang around in the investments forum.

Look at peer-to-peer.
Ratesetter's instant market (usually 3.1%).
AssetzCapital's instant (3.75%) or 30day notice (4.25%, 4.4% through a MoneySupermarket affiliate deal).
All come with protection funds.

There may well be other choices.

But, as you say, this is not a financial decision, but a practical one...

iantojones40

MONEYTREE wrote: »

Things have gone from bad to worse.

Had another agency in, one that's been in town 100+ years. The senior man came, been an estate agent here for about 30+ years. He's valued the house at £240k.

So I called the agency that valued at £400k and asked the branch manager to come and take a look and give a 2nd opinion on his colleague's valuation. He duly came, and confirmed the value at £400k. He said offer it at 399k and accept 380k.

It's all starting to feel totally bizarre!

So I got two more agents and they came in at £380k and £325k.

So what I have decided to do is sign a contract with the one who says they can get £380k to £400k, tell them they have 4 weeks as sole agent and if they haven't got me a buyer at 380k or above I shall give it to another agent. That way we'll see if they are full of b....

Why have things gone from bad to worse?

These lower valuations are great news!... you're discovering that local property prices are actually much more realistic and achievable than you previously thought, just think how much less money you're going to have to spend on your forward purchase.:beer:

MONEYTREE_2

Ian 240k won't even buy me a flat where I am moving to!

MONEYTREE_2

Thanks Adrian. It's always good to know where I can get 3% to 4% even if I don't end up renting. My stocks and shares are nosediving and I am worried sick. I would like to take the money out and put it somewhere else, and one of those might be good. I have made a note of those and will google. Thanks very much!:T

AdrianC

MONEYTREE wrote: »

Thanks Adrian. It's always good to know where I can get 3% to 4% even if I don't end up renting. My stocks and shares are nosediving and I am worried sick. I would like to take the money out and put it somewhere else, and one of those might be good. I have made a note of those and will google. Thanks very much!:T

If you're really thinking of peer-to-peer, then head to http://www.p2pindependentforum.com - some absolutely superb people doing top-quality crowdsourced due diligence. I'm averaging 7.6% return, after fees and losses.

MONEYTREE_2

Thanks Adrian. I must make 100% certain I cannot lose the money though. I just lost £2,600 in shares and I am absolutely gutted.

sisyphal

MONEYTREE wrote: »

Thanks Adrian. I must make 100% certain I cannot lose the money though. I just lost £2,600 in shares and I am absolutely gutted.

Please don't go near P2P unless you know what you're doing, it's high risk.