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House Price Crash Forum


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About mayonessie

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  1. Hi Siskin, I agree totally with your comments looks like youve been burnt by Countrywide and the associated valuers as have I, see my comments also!!!
  2. OMG my eyes hurt!!! All it needs is one buyer, preferably with white stick and labrador!!
  3. Jie, Haha, wasnt my choice, was dragged up here three years ago from London, got to be honest, I love the area, much better than London. I've been back 'down' a couple of times to visit rellies and the traffic and crowding does my nut in. Glad we made the move. Friends can't believe some of the big houses weve looked at which are cheaper than their flats or two bedroom terraces!!! It also means we can have a house for life with little or no mortgage.
  4. Right, got to the bottom of it, the lenders are borrowing the ftb'rs up to 85% of the valuation figure, this was fine at 90K valuation that they could buy at 75K (in other words 100% mortgage on 75K, based that the value of the property is 15% more). This is called a concessionary deposit/vendor gifted deposit, some lenders do do this!!!!! With the new valuation at 82K, then the max they could offer/get from the bank would be £69.7K. Weve gone for it as buyers round here are like hens teeth and I bought in 2003 for 34K so relativly happy that doubled in price and also had rental income in t
  5. Thanks Guys, Will speak to EA and see if they can supply this. Its with a smaller EA but certainly not remax (don't like them at all)
  6. Hi Bailey, Thanks for the comments, you can prob tell I am a bit pi$%ed off. I think they overvalued in the first place, when they first valued I thought 85K but they said no 90K Spoke with agent yesterday and as the new valuation is at 82K then to keep the sale going thru i need to drop the price to 69700, the buyers are FTB's with no deposit so the bank basically take the 15% difference as equity (think its halifax). Seeing as we had it on sale at 80K thats a 13% discount theyve got off us. But as everyone says, a house is only worth what someones willing to pay for it.
  7. A further twist in this sorry tale is that the surveying company is owned outright by an nationwide estate agency co??????? (the same company that I originally went to sell with as they told me the approx property value was 90K or thereabouts) (I did book another co to do the survey but the EA at the time said that may not be on the lenders panel (maybe right)), but I quote from the T&C of the home report " The ultimate holding company of (surveying co ) is (estate agency group). A full list of estate agents owned by or under franchise to (estate agent) is available on request. Surveyor tr
  8. Thanks Fflump Got a house to buy if this goes thru and need to get it down from 160K to 110-130K for it to work as needs about 65K worth of work, so any money saved counts!!!
  9. Hi fflump, Not sure if anything to do with the Scottish market. I'll have a word with the agent on Monday, ive sent the valuer details of properties that have sold recently from the Land Reg details, i've also given him 5 properties that are being marketed at present at about 75-80K by different agents adviertising that the home report is valued at 90-105K and asked him to contact the agents to discuss who valued the properties. (these are all recent additions to Rightmove in the last 3 months). Not much else I can do, I don't want to further drop the price to 69K just so the buyers can ge
  10. Got the Home Report through valued at £82K Spoke to the agent and the buyers will have a problem getting mortgage agreed as they are FTB'ers and offer/mortgage was based on the property being 90K. I suppose its the banks looking to make sure that they have further equity (if the house valued at 90k has been bought at 75K, then they have 15K equity should things go tits up, compared to the 7K they have now with the new valuation). The Valuer says that if I can supply details of properties in the area that have gone for a higher price then they will look at it again!!
  11. £100+ VAT for 5 mins poke around, there was a score of 2 in electrics for cracked socket plate and old bakerlite socket which was dead, got them both fixed in the past months. He didn't want to even look for these, I made him to make sure that score was changed to 1!!!
  12. Hi fflump, From speaking to my agent yes it is. Im so stressed out with all of this, any sign of a problem and i worry
  13. Doccy, Thanks for that blood pressure starting to lower!!! Had a fecking panic when he said that Value price had gone down, almost kicked him out the door!!
  14. Had an offer on our house a couple of days ago, Was valued in Feb 2010 by Valuer under Home report as £90K. We had some time going on this figure and basing our prices on this, originally on at 87k then 83k. Moved agents and have now found a house that we really want so wanted the house sold (priced to sell at 80K) and sold for 75k As the Hr needs to be under 3 months old for sale just had the a valuer from the same company back in and asked me what the sold price was, I told him, and he said that the HR valuation would have to come down to be in line with this figure and could be up to
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