£174k under Zoopla evaluation. Is the house too good to be true?

pbhb

Hi all, me again. I have found a fabulous home in a great location but have huge concerns. The house seems too good to be true, it was purchased in 2016 for £522k which is inline with the market price of the village. The sellers then had to move to a bungalow after an accident meant the owner could no longer climb the stairs.
The property has been on the market on and off for 4 years, originally priced at £595k. A number of sales have fallen through on it - one due to. Someone pulling out and moving abroad, two due to chain collapses, and one who decided they weren’t comfortable with the listed status (it’s 19th century).
the property has been reduced in price over the years and in September was reduced to £450k which is how it suddenly came on my radar, o believe the reduction in price was made too late, the market was crazy in July and I gust, should have been done then.
After recently having two house sales fall through for various reasons, I am on high alert, checking EVERYTHING. Nothing seems to be an issue, we have viewed the house three times, thoroughly checking for damp etc (I have a survey booked in for November), the garden is North facing which isn’t ideal but it’s not something that is hugely important to me.
The only thing I can think of is the current owners bought at a price of a 4 bedroom house as their previous sellers converted the loft and added a bathroom and 4th bedroom. However, the eaves in the bedroom means it’s impossible to furnish and I don’t see how you could get a bed etc in there, it would make a fantastic dressing which is how I intend on using it.
After so many houses falling through for me I just can’t fathom how O have found such a gem. I take all zoopla valuations with a pinch of salt (it’s valued at 624k) but it baffles me they’re selling so much under what they have paid for it, unless they’re desperate to get rid as they are almost 90 and needing funds available for care treatment.
Are there any other major red flags I should be looking for? I have seen proof that the loft conversion was approved by the council, this was my first worry but this has been satisfied now.
After comparing the Rightmove listing with the actual house I have realised the photos are awful and does not do the house justice at all which I believe would put off potential viewers

pbhb

Ps I am so sorry for the typos, walking the dog in the rain!

Comms69

Zoopla price estimates are as good as you asking that (no doubt lovely) pooch you're walking how much it's worth

RelievedSheff

It certainly looks like they have to sell. I would ignore Zoopla estimates though. They are wildly inaccurate. 

greatcrested

I do wish zoopla would not waste people's time with these meaningless 'valuations'.

And I do wish people would all realise how pointless they are.

(OK- rant over)

HummingBird76

It just sounds to me like they need to sell.  The Zoopla valuation is as much use as a chocolate kettle.  It sounds like the house is perfect for you, and surely that is what matters   Get your own survey / valuation done and then go from there.  But all in all, it sounds like you may have just been lucky and found your perfect home!

youth_leader

Good luck, how lovely you are young and healthy and able to take on such a wonderful sounding house to maintain and conserve.  Enjoy, I do recommend getting the Listed Heritage magazine, it's full of useful information.

[Deleted User]

You do have a decent full structural survey being carried out dont you that you are having in November ? All those sales falling through and the huge price drop screams problem and desperate to get rid of now !
Hopefully its just desperate to sell without structural problems - good luck   

pbhb

Densol said:

You do have a decent full structural survey being carried out dont you that you are having in November ? All those sales falling through and the huge price drop screams problem and desperate to get rid of now !
Hopefully its just desperate to sell without structural problems - good luck   

Yes I have a full structural survey booked. Crossing my fingers all is okay! A sale fell through previously due to roof issues but they have been fixed now 

ComicGeek

pbhb said:

Densol said:

You do have a decent full structural survey being carried out dont you that you are having in November ? All those sales falling through and the huge price drop screams problem and desperate to get rid of now !
Hopefully its just desperate to sell without structural problems - good luck   

 A sale fell through previously due to roof issues but they have been fixed now 

Make sure your surveyor knows that and get them to specifically check the repairs - there's fixed and there's bodged, particularly given the age of property and the listed status.

pbhb

ComicGeek said:

pbhb said:

Densol said:

You do have a decent full structural survey being carried out dont you that you are having in November ? All those sales falling through and the huge price drop screams problem and desperate to get rid of now !
Hopefully its just desperate to sell without structural problems - good luck   

 A sale fell through previously due to roof issues but they have been fixed now 

Make sure your surveyor knows that and get them to specifically check the repairs - there's fixed and there's bodged, particularly given the age of property and the listed status.

Good point! Thank you