PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

House down-valued 'ex local authority'

Options
2»

Comments

  • nicmyles
    nicmyles Posts: 312 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Further to other answers, you could suggest the buyers challenge the valuation. We did this when a flat we were buying was down-valued, but only because we were 100% confident in the market and the value we had placed on the property i.e. we were as certain as we could be that we weren't over-paying. (History proved us correct.)

    Your buyers will need to have the same confidence to do this, and even then may not be successful. We weren't and vendor pulled out. If your buyers wanted to attempt this, they will need to build a case - I would certainly be using the fact the surveyor has mis-identified the property type as a good starting point.

    But realistically, they aren't likely to get very far.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Lovem wrote: »
    Hi,
    Our property has been down valued. General seems to be accept it without any questions as to why?

    We are the first to sell in the area. House is unique so not the traditional houses around that area.

    Also, the surveyor has noted the house is 'ex local authority' where is it not. Could this bring down the valuation?

    I have no idea what to do from here. Do I pull the plug on the sale? The valuation is only more £7,000 than when we purchased it 9 years ago just as the recession hit.


    Depends how much you want to sell it, were you expecting a massive profit?
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.