The value of a house - Am I wrong ?

sweetsand

Mickey666 said:

Houses don't come with a recommended retail price.  They are only worth what someone is willing to pay and you can't sell if no one is willing to buy.  It's not an exact science and I can never understand why people get so hung up about it.

Also, it doesn't matter how much you spend 'renovating' your house if a potential buyer doesn't actually like your new expensive (or cheap!) kitchen and bathroom.  If the buyer feels the need to replace it all then you've added precisely zilch to the value of the house.  Of course, the name of the game is to find someone who DOES appreciate everything you've done (or in some cases what you've not done) and therein lies the challenge.  But it's more an art than a science.  So, name your price and wait and see.  You'll get time wasters, chancers, dreamers and eventually a serious buyer.  Just don't think there are any real 'rules' and remember that everything is negotiable, so don't get all offended when a simple, polite 'no' is all you need to say.

Exactly.  You will always get the fools that will take the !!!!!! when you sell or buy by saying "you paid too much," or "you sold it too cheap" that applies to houses and cars.   So do what you feel is right on the whole estate agents only make money when contracts are exchanged and they could not give a flying f if they got you to sell a property worth 500k relistcally for 450 or the other way around as long as it is done quiet quickly.

Just before I leave this thread, little story. One of my brother-in-laws a jack the lad big mouthed useless bloke but has a lot of money and a lot of bS coming out of his mouth. At our place they satyed the night and it was one BS story after another, then he asked how much our current model Merc was, ie what we paid for it. We told him, he said he had a friend that got it cheaper - we said fair enough whats done is done but we did try to shop around. The my husband loves a drink, a famout brandy - my husband said there was a deal on at a supermarket and he bought 12 bottlers at 30 odd qud forget the price it was 30 and plus a quid or 3 more. My BiL spouted that he could get them for 20 quid each easy all legit - I blurted in, ok get us 36 bottles 3 boxes at his 20 pounds etch - you know what he said, "oh, that was a couple of months ago, all sold out" what a BS/ter!   Then I said to him the next time we buy a new car, we will shop around and come back to him and see if he could better it by the amount he said but I was on a role - I asked how much he paid for his Ford foucus a run of the mill car, he bought it brand new for 20k I LOL, I said for a Ford, that shut him up.

Angela_D_3

Ok well let’s pretend we did nothing to it,  never spent a penny and it was in exactly the same condition as it was in 2007.  It’s still gone up by £80,000 on the basis that everything else has.  I’m looking at fixer uppers and they are £10,000 less than mine 

Angela_D_3

it’s not going to auction nor will anyone be begging estate agents .... sorry hpc’ers it won’t be us blinking first.  

Angela_D_3

sweetsand said:

The OP and then a bit more light is shed.
Ok, do this if you all want to be fair.
You've already had three valautions and IMO your ex needs to ge three done as well with him there.
Then wait an agreed period for offers, genuine offers.
Then you both have the option to but the house.

If both of you can't agree - send it to an aution

This rubbish about spending an x amount on it all comes down to taste.  We spent 80k on our house soon after we bought it to make it look, feel contemporary,  we did some of the work ourselves and sources itemscheaperself and paid some cash in hand. Few doors down same type house they have a slightly larger garden, same type conservatory and OSP for 4 cars and twin garage - the spent close to 160k they said and the decor is chavvy to put it mildly.. Both properties went on the market a few motnhs ago before lockdown  theirs in Jan ours in Feb- our at 730k theirs at 750k - they have completed a few days ago at 720k and  we have exchanged recently at 729k - just showing is not what you spend on it but how.

in fairness to both of you and life long of finger pointing it was sold cheap or the other got a bargain !!!!!!, aution the house and split the profits - the money you spent is nither here or there.

Nest time, be more open from the start.

Good luck

There’s no profit to split the money is coming to me.  It’s way way beyond that stage.  This is court ordered now as he didn’t pay his mortgage for 11 years.  Although what any this has to do with the value of the house I don’t know hence separate threads.  

Crashy_Time

Angela_D_3 said:

Ok well let’s pretend we did nothing to it,  never spent a penny and it was in exactly the same condition as it was in 2007.  It’s still gone up by £80,000 on the basis that everything else has.  I’m looking at fixer uppers and they are £10,000 less than mine 

It has only gone up by what someone (or their bank) will pay you for it.

Angela_D_3

Crashy_Time said:

Angela_D_3 said:

Ok well let’s pretend we did nothing to it,  never spent a penny and it was in exactly the same condition as it was in 2007.  It’s still gone up by £80,000 on the basis that everything else has.  I’m looking at fixer uppers and they are £10,000 less than mine 

It has only gone up by what someone (or their bank) will pay you for it.

Sold, full asking price £295,000.

SameOldRoundabout

https://forums.moneysavingexpert.com/discussion/6175168/divorce-lawyers-when-to-quit#latest

Are these two threads about the same property? Because they don’t seem to tally up at all. 

Angela_D_3

SameOldRoundabout said:

https://forums.moneysavingexpert.com/discussion/6175168/divorce-lawyers-when-to-quit#latest

Are these two threads about the same property? Because they don’t seem to tally up at all. 

They are, the legal wheels may turn slowly ..... I do not 

wesleyad

Angela_D_3 said:

Sold, full asking price £295,000.

Glad its sold, but in hindsight maybe the 280 offer wasn't so far out after all (5%)

Angela_D_3

wesleyad said:

Angela_D_3 said:

Sold, full asking price £295,000.

Glad its sold, but in hindsight maybe the 280 offer wasn't so far out after all (5%)

£15,000 is not to be sniffed at though