Help! Property valued 50k less than offer!!

Crashy_Time

Marvel1 said:

The way I see it is that you were happy to pay £428K and that is what it's worth to you.

Circumstances and the economic outlook can change, new information can become available etc.etc. You should always be prepared to review your bid.

Crashy_Time

numbercruncher8 said:

I know this area quite well.

I think it's a mistake to go ahead at the original price and the valuation was more accurate than your bid. The reason being that houses around here and the surrounding streets are pretty standard. Buying it at your bid and doing the work (assuming it is required and costs as it says) would put the total spend at a level above what one could probably achieve today. That may be fine in some circumstances but I don't really see it in this case.

Another factor is that this general area is a pretty busy market as it goes. As long as you don't need to live in this particular road, I would think that its very likely that if you wait a bit several other contenders may pop up nearby. Plenty of sales have completed, and many at less than your bid (as the valuation says). 

If you have a bigger budget the roads south of the tram line are nicer and less densely populated but I think would come up much less often. 

So why is someone with subsidence (or their EA) not pricing more sensibly?