Laura Posted August 15, 2008 Posted August 15, 2008 (edited) Only an MSE poster could come out with this.... & please note, the guy is a buyer FHS!! I blame junk food?? House undervalued by HSBC Basically house was valued by them at 145. We thought it was nearer to 160 and 2 estate agents confirmed this, one said even 165+. The whole mortgage was agreed and we'd paid the fees but there is the massive difference in the valuation. What can we do? LINK Edited August 15, 2008 by Laura Quote
Guest X-QUORK Posted August 15, 2008 Posted August 15, 2008 Only an MSE poster could come out with this.... What can we do? Keep your mud-sucking, single-cell mouth shut? Quote
PotNoodle Posted August 15, 2008 Posted August 15, 2008 Neat Comment in the discussion thread :- = = = = = = = = = = = = = = = = = = = = = == = .........and you believe EA's? From Property Bee: History dateevent11 July 2008 Price changed: from '£162,000' to '£159,950' 03 July 2008 Price changed: from '£169,950' to '£162,000' 09 June 2008 Price changed: from '£174,995' to '£169,950' 29 March 2008 Price changed: from '£177,950' to '£174,995' 16 March 2008 Price changed: from '£179,950' to '£177,950' 03 March 2008 Initial entry found. = = = = = = = = = = = = = = = = = = = = = = = No source details, but there's someone chasing the market down.... 11% won't do it, chummy. Quote
Slumpmonkey Returns Posted August 15, 2008 Posted August 15, 2008 Basically house was valued by them at 145.We thought it was nearer to 160 and 2 estate agents confirmed this, one said even 165+. The whole mortgage was agreed and we'd paid the fees but there is the massive difference in the valuation. What can we do?[/color][/i] LINK OMG - we have to be the most stupid nation on earth! This idiot would be the first to haggle the price down of a new car or washing machine but when it comes to a house he actually wants to pay more!!!???!!! Quote
Bloo Loo Posted August 15, 2008 Posted August 15, 2008 Why bother posting about saving money on moneysaving expert and then saying the saving is unjustified? They should have posted on Moneyspendingexpert.com or try the wifes blogg. Quote
ReggiePerrin Posted August 15, 2008 Posted August 15, 2008 I think the reason why he's complaining is because if the valuer down values the house, then he can't get a mortgage, e.g. it changes the LTV calculation But as they're an idiot they should complain and demand the valuer increase their estimate. Quote
Fully Detached Posted August 15, 2008 Posted August 15, 2008 The last comment on that thread asks the important question: is this a remortgage or a purchase? Which might go some way to explaining the posters unhappiness Quote
Bloo Loo Posted August 15, 2008 Posted August 15, 2008 The last comment on that thread asks the important question:Which might go some way to explaining the posters unhappiness erm, why would you go to an EA for a remortgage? Quote
the end is a bit nigher Posted August 15, 2008 Posted August 15, 2008 erm, why would you go to an EA for a remortgage? exactly problem - you want to borrow £150k with a £15k deposit = £165k asking price - valuer says worth £145k - bank offers £130k - buyer now £20k short of £165k - simple answer, drop the offer Quote
Avon Posted August 15, 2008 Posted August 15, 2008 erm, why would you go to an EA for a remortgage? A long shot, but maybe they did it to confirm their own personal evaluation? From what I gather, home owners have been getting frivolous evaluations left, right and centre to massage their egos, sort out their MEW plans, or to give to their 'financial advisors'. And EAs are the easy and free way to get a nice looking number.... Quote
Fully Detached Posted August 15, 2008 Posted August 15, 2008 (edited) A long shot, but maybe they did it to confirm their own personal evaluation? That was what I thought. The OP hasn't replied yet, so not confirmed, but looking at all the pwoperty porn over the past few years, I can see people thinking that an EA valuation must be right - especially when it contradicts the opinion they didn't want to hear. <edit for clarity> Edited August 15, 2008 by Crash Gordon Quote
Bloo Loo Posted August 15, 2008 Posted August 15, 2008 That was what I thought. The OP hasn't replied yet, so not confirmed, but looking at all the pwoperty porn over the past few years, I can see people thinking that an EA valuation must be right - especially when it contradicts the opinion they didn't want to hear.<edit for clarity> Nah, he said hed paid the fees and everythin Quote
Laura Posted August 15, 2008 Author Posted August 15, 2008 The OP hasn't replied yet, - especially when it contradicts the opinion they didn't want to hear. Seems the OP doesn't care for MSE opinion either That never happens here y'know ... Quote
Avon Posted August 16, 2008 Posted August 16, 2008 Nah, he said hed paid the fees and everythin I thought that, but then don't a lot of re-mortgages also involve up-front fees these days? But you're probably right: found a house he wanted and was annoyed that the lender torpedoed the deal even if, by implication, it was indicating that he was paying over the odds and should negotiate some more money off (side issue: would this be gazundering if it is required by the mortgage lender?). He is, of course, one of a very small minority of people whose bank has not lost them money even if he's not clever enough to realize this. Quote
Fully Detached Posted August 16, 2008 Posted August 16, 2008 It's a remo so the comments about purchases can be wound back in (see an older post by OP relating to a remo in september). Back of the net, get in Quote
Laura Posted August 16, 2008 Author Posted August 16, 2008 Seems the OP doesn't care for MSE opinion eitherThat never happens here y'know ... In the cold light of a Saturday morn I have noticed that the above response to CG's post makes no sense at all OMG, I hope this isn't an early sign How does one really know? When the senior moments cease to be moments?? Where r u DYIV. An online consultation reqd please Quote
the end is a bit nigher Posted August 16, 2008 Posted August 16, 2008 Everytime I see this thread I read the title as "The Undervaluer has......" Quote
Bloo Loo Posted August 16, 2008 Posted August 16, 2008 They hate us there. I think a group <<<<hugs>>>> is in order. So its a remo, he wastes 2 EAs valuable free time, then moans about a valuation. Whats his motive? Did he borrow too much at the start? Is this situation biting him in the posterior. Far from hating this site, posters there should take note that falling valuations are a FEATURE of HPC. Quote
the end is a bit nigher Posted August 16, 2008 Posted August 16, 2008 They hate us there. Far from hating this site, posters there should take note that falling valuations are a FEATURE of HPC. The funny thing is, most of them are saying the same things as us. Quote
hedgefunded Posted August 16, 2008 Posted August 16, 2008 ...he wastes 2 EAs valuable free time.... Uummmmmm. Quote
Laura Posted August 16, 2008 Author Posted August 16, 2008 The funny thing is, most of them are saying the same things as us. Or the them that say the same thing as us are us? I know I am Quote
Fully Detached Posted August 16, 2008 Posted August 16, 2008 So its a remo, he wastes 2 EAs valuable free time, then moans about a valuation.Whats his motive? Did he borrow too much at the start? Is this situation biting him in the posterior. I'd guess from the "what can we do?" nature of the post, that the bank has valued the house at less than he owes on it. So if that were the case, what happens next? Quote
the end is a bit nigher Posted August 16, 2008 Posted August 16, 2008 (edited) Or the them that say the same thing as us are us?I know I am Yes, your handle is a bit of a giveaway! Edited August 16, 2008 by the end is nigh Quote
Laura Posted August 16, 2008 Author Posted August 16, 2008 Yes, your handle is a bit of a giveaway! Well, really! :angry: Headline:- Laura demands massive 'I'm indignant' emoticon. __________________________ BTW still no OP response, so definitely he wanted to MEW .............. hence the vagueness in his initial post, for which he has paid the price with the responses Quote
Bloo Loo Posted August 16, 2008 Posted August 16, 2008 Yes, your handle is a bit of a giveaway! Nah, Lisbonlaura doesnt usually have a porno avatar. Quote
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