ridiculous valuation of house

snickpan

LdnFtB wrote: »

The valuation surveyor will be basing the value from nearby sales, not nearby asking prices.

That's why I wrote " I realise 'for sale at £550K' doesn't always mean it will sell for that."

snickpan

HouseBuyer77 wrote: »

Stick the details into the nationwide house price calculator: http://www.nationwide.co.uk/about/house-price-index/house-price-calculator (remember to switch the region from UK to a more specific one).

Assuming it's a fairly standard property with no major issues it can give a rough ball-park valuation.

If that's giving you the £550k then maybe the surveyor has under-valued. If it's giving you nearer £435k then perhaps what you think is a similar property is not so similar. Or it's massively over-priced.

[edit]London & Country have an online house price calculator: https://www.landc.co.uk/calculators/house-price-calculator/ Zoopla have a tool too: https://www.zoopla.co.uk/. Certainly neither of these are particularly accurate, and could be well wide of the mark but handy to give you a ball park figure[edit]

It says current value should be £486K.

getmore4less

snickpan wrote: »

It says current value should be £486K.

you know where you live and what sort of house you have so can check the real sold prices for same/similar

they are easy to look up

http://landregistry.data.gov.uk/app/ppd/

GDB2222

snickpan wrote: »

It says current value should be £486K.

The valuer is 10% lower than that figure. He may be a tad conservative, but it's hardly ridiculous.

Do you know what his remit is? He might be giving a forced sale valuation, which is obviously lower than what you would get if you had all the time in the world to sell.

PField

In my experience different valuers can give widely different valuations. Also values tend to be lower when you remortgage than when your are purchasing.

Tiners

Based on the evidence you've provided us with so far surely the title for this thread should be...

''Ridiculous Deluded Kite Flyers Asking Far Too Much for Their Houses''

caronoel

Tiners wrote: »

Based on the evidence you've provided us with so far surely the title for this thread should be...

''Ridiculous Deluded Kite Flyers Asking Far Too Much for Their Houses''

I refer you to post number 5 in this thread

Tiners

caronoel wrote: »

I refer you to post number 5 in this thread

Please feel free to provide further evidence that the £550k houses are an accurate market value or that the the £425k this house was ''marketed at'' in 2014 is a true reflection of it's value now...

Pixie5740

snickpan wrote: »

I can only guess that if they're put on the market at £550k, the sold prices are somewhat less. But I doubt they're selling at £435K.

Rather than guess why don't you find out? You can get the information from the Land Registry.

Tiners

Tiners wrote: »

Please feel free to provide further evidence that the £550k houses are an accurate market value or that the the £425k this house was ''marketed at'' in 2014 is a true reflection of it's value now...

Come on now Caronel, don't go all shy on us!

It took you only 5 mins to respond to my first post, why the delay in responding to my reply to you?