Valuation report

Dant

Help getting myself so stressed out had a offer on our house and the buyers valuation man is coming on Monday they rang and said he will be with us for about 20-30 minutes needs access to every room I am so worried that they will undervalue it we have already come down £20,000 for a quick sale

Carrot007

Dant wrote: »

Help getting myself so stressed out had a offer on our house and the buyers valuation man is coming on Monday they rang and said he will be with us for about 20-30 minutes needs access to every room I am so worried that they will undervalue it we have already come down £20,000 for a quick sale

Nothing to worry about it unless you have.


1. Overpiced it (maybe because you cannot afford not to).


2. Hidden some fault from the valuation you used to price it (which was hopefulyl something better than an estate agents hubris quote).

Davesnave

I'm not sure what you want us to say here.


Valuation is a normal part of selling and it usually involves a fairly cursory inpection. Provided the house is roughly in line with the selling price of similar properties, the agreed price will just be nodded through.


Do you know what similar houses have recently sold for?

Dant

We live in a small village only 10 houses so nothing to compare it too ! It’s a old cottage that’s been extended over the years I just worry so much about things

Davesnave

Dant wrote: »

We live in a small village only 10 houses so nothing to compare it too ! It’s a old cottage that’s been extended over the years I just worry so much about things

I live in a similar sized hamlet,and while there's no other property like mine here, there are plenty of comparables within a few miles.


Sure, if you lived in a famous Cotswold village, like Castle Combe or Broadway, there would be a significant input to your house price because of the location. However, if, like me, you're in a pleasant but average sort of place, you will be able to spot properties like yours among the Rightmove sold data.


Edited to add: A valuation from the lender's point of view is just to check that the property offers them adequate security if the borrower defaults. It's not usually necessary for the valuer to be very exact.

lookstraightahead

That's part of the process. The valuation needs to be clear so has to be done. Even if it has been overvalued the buyer might still want to buy it, or renegotiate.

Dant

We have the canal at the bottom of our property and I have looked and nothing near us but in the next little village no canal there going for a lot more than ours

Crashy_Time

Who made the original valuation that you have already knocked 20k off?

G_M

Are you willing to put up a link to the property?