Mortgage valuation less than selling price

Sirbobalot_1

Hi,
Just after some advice, we put our house on the market after having it valued by 2 separate companies we accepted an offer for the asking price. Our buyers had their valuation done and it has come back 15k less than what they offered the valuer says none if these houses have sold for 2 years so he can only base it on the price they sold for 2 years ago. We live on a cul we sac all 25 houses are the same, another property sold a few weeks before ours for the same price we are asking they are not having the same problem but as it hasn't completed the valuer would not use that as an example.
Our buyers are looking at a different lender now to have the valuation done again we can't afford to sell it for less as we need it for our house.
Anyone else had a similar experience?

csgohan4

be prepared this may have the same outcome. Until the house has appeared on the Land registry, no sold price can be used from your neighbours. Do you know if they sold at below price for example?


So many factors affect the value, current market conditions, seller overpricing the house, new build selling so soon for example.


Unfortunately if the other lender come back the same, it is likely over priced.

Sirbobalot_1

The other property was sold with the same estate agents and they have said theirs has been fine it's exactly the same price house is exactly the same, and we only went the price the estate agents said too, it's not our own valuation.
So how has the other house has their valuation back as per the asking price? How do any ever increase in value if none have sold recently and that's all they'll go off?
The man who did the valuation actually valued our house a few years back when we remortgaged and he valued it the same back then but said it's be worth 10k more when the road is finished, which it is now when he came this time he asked me when the road was finished

BoGoF

There's lots you don't know about the other house.

Nobody likes admitting they got less than they wanted when selling a house - you will only know for sure what it went for when Land Registry updates.

The buyers of the other property may have had a large deposit or be cash buyers.