Selling; but worried the mortgage valuation won't cover the bidding price.

Redwino222

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

If they really want the house? If three people want the same house how else do you differentiate?

I am interested by you - you criticise anyone who wants to buy a house - are very negative and constantly predict a significant price reduction - do you own or rent?  If f you rent will you ever feel secure enough to buy?

why do sorbs so much time making these comments?  What do you get out of it? 

[Deleted User]

Redwino222 said:

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

If they really want the house? If three people want the same house how else do you differentiate?

I am interested by you - you criticise anyone who wants to buy a house - are very negative and constantly predict a significant price reduction - do you own or rent?  If f you rent will you ever feel secure enough to buy?

why do sorbs so much time making these comments?  What do you get out of it? 

Attention. Its about attention.

Redwino222

Ah okay!  I shouldn’t have engaged 

Crashy_Time

Redwino222 said:

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

If they really want the house? If three people want the same house how else do you differentiate?

I am interested by you - you criticise anyone who wants to buy a house - are very negative and constantly predict a significant price reduction - do you own or rent?  If f you rent will you ever feel secure enough to buy?

why do sorbs so much time making these comments?  What do you get out of it? 

So you think a "significant price reduction" is a negative? On a money saving site.....are you being serious or just jesting?

Redwino222

sorry crash time, I shouldn’t have engaged with you.  I’m really not interested in having this sort of interaction.  My fault.  I retreat and wish you luck with whatever you are hoping for.

Crashy_Time

GDB2222 said:

Cheer up. The weather is lovely. It’s a fine summer day. There’s nothing you can do about the buyer's mortgage valuation, so don’t worry about it.

Exactly, good advice.

Thrugelmir

JamesA123 said:

What should my strategy be?

Be prepared for the buyer to lower their offer.  

Crashy_Time

Good advice.

Johnnyh123

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

This is a genuinely mental question.  There’s a hundred reasons you could come up with.  A house maybe the only 4/5 bedroom house in the area, they may want to buy close to a school or their family, it may be right by their place of work or it could be all of the above.  Some of these things may save the buyer money in the long run which wouldn’t be the same for another person.  Just because the bank values a house a certain way doesn’t make that value equal for everyone or anyone.  If two buyers have all these things in mind then you will see the true value of what they can afford and will pay.

NinjaTune

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

Because they love it enough to want it and have a decent deposit for the cost of the house I guess.

Some people see a place as more than brick and mortar or something to level up on in the future.

Some people just see it as the place they will love and be happy and will pay a bit above what money-makers see as its worth.

Not everything is about making a profit; some things are about happiness, contentment and quality of life.

Maybe that's just me being an old hippy though 

See below for non-hippy explanation!  Quality of life, same thing ultimately.

Johnnyh123 said:

Crashy_Time said:

comeandgo said:

Don’t sell to FTB who may not have the cash behind them to make up the shortfall.

Why would anyone want to pay over the bank`s valuation for a house?

This is a genuinely mental question.  There’s a hundred reasons you could come up with.  A house maybe the only 4/5 bedroom house in the area, they may want to buy close to a school or their family, it may be right by their place of work or it could be all of the above.  Some of these things may save the buyer money in the long run which wouldn’t be the same for another person.  Just because the bank values a house a certain way doesn’t make that value equal for everyone or anyone.  If two buyers have all these things in mind then you will see the true value of what they can afford and will pay.