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Property value affect on mine ?

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2

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  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
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    As a buyer and with this information easy to access online, i would use the 180 as a base of my offer. Are there no similar houses on sale anywhere?
  • Mrs36
    Mrs36 Posts: 193 Forumite
    edited 18 March 2017 at 2:08PM
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    What are the most recent sales? You say over the last few years, but what has sold recently, that will give you an idea of current values.

    12 years ago the market was very different. You should really get a valuation to give you a starting point, but as we have said on this forum many, many times your house is only worth what someone will pay, and that is the price you need to find.
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
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    As in 12 years ago was pre-2007?

    I guess that boils down to "What area are you living in?". This would be a problem in some areas - but, in other areas, the price will have recovered to pre-2007 levels and gone up rather more.
  • sparky130a
    sparky130a Posts: 660 Forumite
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    travelmonster wrote: »
    But the buyer has been sneaky.

    How?

    They were simply one half of an agreed transaction....
  • teddysmum
    teddysmum Posts: 9,474 Forumite
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    Next door to us sold to a developer for a very low price, as the seller wanted the money quickly. However, it is a 1970s build and still had the original kitchen and bathroom, together with some rather ugly semi-permanent 'decoration', rotting wooden windows and a drive needing resurfacing.


    It never occurred to me that it would affect the price of our house,as properties on this estate sell quite well.
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
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    teddysmum wrote: »
    Next door to us sold to a developer for a very low price, as the seller wanted the money quickly. However, it is a 1970s build and still had the original kitchen and bathroom, together with some rather ugly semi-permanent 'decoration', rotting wooden windows and a drive needing resurfacing.


    It never occurred to me that it would affect the price of our house,as properties on this estate sell quite well.

    When I sold last house - I got over the fact that a nearby similar house had sold "under value" because it was just one house. I would have promptly turned round and countered that with "But - another house nearby has sold at the same sort of time over value". But if 3 houses nearby have all sold under value and none over value - that is a rather different kettle of fish and I can understand why OP would be worried theirs would also sell under value.
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
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    What something sold for 12 years ago and what something sold for in the last 4 years makes no difference to what something will sell for today. If you have a very desirable house in a very desirable area the competition between buyers will soon tell you what the price ought to be.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Cakeguts wrote: »
    What something sold for 12 years ago and what something sold for in the last 4 years makes no difference to what something will sell for today. If you have a very desirable house in a very desirable area the competition between buyers will soon tell you what the price ought to be.


    Yep, and no competition, or very little competition, tells you that it is time to lower price expectations.
  • 3mph
    3mph Posts: 247 Forumite
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    If I lived there I would be less worried about property prices and more about local life expectancy.
  • kingstreet
    kingstreet Posts: 38,786 Forumite
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    Executor sales at below market value should not be appearing on the Land Registry sold figures.

    Do they?

    Surveyors typically take the recent (last four months) sales of similar property in the vicinity (less than 0.5 miles) when they prepare comparables for a valuation.

    Would they do this with the above and affect you?
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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