Surveyor undervaluation has lost us a sale

kinger101

Comms69 wrote: »

You're welcome


- sometimes you don't like what you hear, but it's still right.

But you've not really added anything constructive. You've only offered an opinion, which cannot be demonstrated to be "right".

kinger101

Were the buyers using a high LTV mortgage? It's possible a surveyor might be more conservative if this was the case. As others have suggested, it seems you've probably lost this buyer for good.

EachPenny

I wonder whether the "kid" was advised by an older and wiser manager that a house in a "deeply unfashionable part of the country" which has lost value in real terms already, might not be an attractive purchase when the housing bubble bursts.

And therefore advised not to put a value on it which might cause professional embarrassment if their client finds themselves repossessing a property worth less than the mortgage.

Of course the surveyor will use their professional experience to value the property now - but as an art not a science, who is in a position to argue with them over something as abstract as the value of a pile of bricks, if a little voice in their head (or a real one) has told them to knock 20% off this one to be on the safe side.

It is a lot easier to find a reason for undervaluing than it is to justify an over valuation.

Comms69

kinger101 wrote: »

But you've not really added anything constructive. You've only offered an opinion, which cannot be demonstrated to be "right".

It is right. There’s no alternative, it cannot be wrong.

The OP has no contract with the surveyor