Jump to content
House Price Crash Forum
Sign in to follow this  

Home Report Refresher

Recommended Posts

Wotcha HPC.

I'm buying a house, home report value in March 2013 - £260k.

A quickish sale was required by the old sellers and they marketed the property at £225k in June 2013.

Offer accepted in July - £210k.

Refresher home report value received today - £225k.

Same surveyors.

I have emailed our Solicitors and asked them to query why the home report valuation is £35k less than it was 5 months ago.

My questions to the hpc massive are:

1. Is this normal practice?

2. Can I query why they believe the property has dropped £35k in 5 months?

3. Does that mean the earlier HR - which they were responsible for - was wrong?

4. Will the Surveyor tell us anything other than, 'our opinion is final and we won't change our mind on it'?


Share this post

Link to post
Share on other sites

The price is what someone is willing and able to pay for it. You will not know what a properties true value is until it's sold, it will vary week to week depending on how many buyers are in the market for that particular type of property in that area and also the price of and how easy credit is to access.

Personally I and the Land registry would say that the value of the property is £225k unless it was sold again (to someone willing and able) for a higher price.

Share this post

Link to post
Share on other sites


Can I ask why you said 'Personally I and the Land Registry would say that the value of the property is £22k'?

Surely by your own reasoning, if I bought it for £210k then the value of the property is £210k?

Share this post

Link to post
Share on other sites

1. Yes.

2. No. Not a report you paid for. Maybe seller needs to prove to HMRC down the line that they did not under sell the proprty to avoid tax. Plus on the day seems to the market rate.

3. No. Seller needed highest valuation possible for marketing to greater fool. Maybe there were comparables at the higher price.

4. No. Vendor may be able to get list of comparables used - I wouldn't hold breath.

Seller pays for it and gets opportunity to review report/provide feedback prior to release. Their needs will be met - to a poi nt.

I had a drop explained informally as being due to knuckles being wrapped when banks noted difference between sale price and valuation.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   215 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.