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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Surveyor undervaluation has lost us a sale
Comments
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Comms,
My profession is that I have a brain to differentiate between a property in a unique setting that has three precedents in the last year supporting the valuation rather than something on a random housing estate.
HTH0 -
I'm not sure what long term repercussions you think you may have going forward....but lots of sales fall through....I may even have read that the number is 1 in 4....
It's disappointing that yours has....but bounce back ....get it relisted and start welcoming a whole new set of potential buyers.
The fact that you went into this with an asking price offer bodes well...people clearly like it.frugal October...£41.82 of £40 food shopping spend for the 2 of us!
2017 toiletries challenge 179 out 145 in ...£18.64 spend0 -
Comms,
My profession is that I have a brain to differentiate between a property in a unique setting that has three precedents in the last year supporting the valuation rather than something on a random housing estate.
HTH
So you aren't a valuer or a surveyor?
I'm not a doctor, so would you take medical advice from me?
Look I appreciate you aren't happy, but the fact is your house has lost value, significantly over the last 14 years. Why are you moving now?0 -
Okay. Thanks for those replies who tried to be constructive and help. Unfortunately the others couldn’t help themselves ... No surprises there.
And sorry if I wasted anybody’s time. You always had the option of clicking “next”.0 -
Okay. Thanks for those replies who tried to be constructive and help. Unfortunately the others couldn’t help themselves ... No surprises there.
And sorry if I wasted anybody’s time. You always had the option of clicking “next”.
You're welcome
- sometimes you don't like what you hear, but it's still right.0 -
but I wonder if I have legal recourse ...
But for that privilege expect to pay affair whack for the valuation.
Suck it up move on and find another buyer.0 -
Hi, something very similar happened to us as buyers. As we are in Scotland, the home report that the seller had done valued the property at 450k. Our mortgage company then sent in their own surveyor who valued it at 390k (the house is also in a private estate in a unique setting and this new surveyor worked on the other side of the country!) We were gutted as we knew the house was worth it. Luckily, the mortgage company took into account the peculiarity of the huge discrepancy and permitted us (at our cost) to send in another surveyor (a different firm but at their choosing) who valued the property at the price we had offered. Would you or your buyer be prepared to investigate this avenue?0
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Down valuations happen all the time.
If the buyers liked the property enough, they could have tried a different lender.
You have no contract with the surveyor, his employer or RICS - your complaint will be thrown out.
Put it to bed, it happens. Move on, concentrate on finding a new buyer who will use a different surveyor.
Anything more than that is a waste of your time and theirs. It might make you feel better, but it will not do anything.
I have never had a down valuation overturned. One of which I could give 15 examples of similar priced properties. The surveyor was having none of it. I have given up appealing them now.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Next time insist that the surveyor is an old woman0
This discussion has been closed.
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