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Trade In Overvalued.

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Hya - the missus is going through the motions of us moving to birmingham. basically the house has been a trade in to persimmon and is unfortunately also a persimmon so the build quality is shocking.


anyway we said it was way overpriced at 220 so she mistakenly put in a bid of 205 because the estate agent said that when it was revalued persimmon would have to abide by that and reduce the price. in reality I reckon 190 is more than fair. we are now stuck with the valuation saying 194-205 but seeing as we offered 205 we are stuck with it.

looking on the history of the estate which was built in 2004 the houses sold recently are only just making their original purchase price which tells me the estate was a mini bubble and crashed badly inbetween. the closest to it did sell for 10k more than the build price in 2013 but the four bed two doors down sold in 04 and late 14 for 245 which to me says there is something not right.


so as we stand we can walk away or what can we do to try and push another reduction? I am ex trade so know what to look for and can survey it myself which I already have and would rather not have to live there but you know what women are like. the estate agent reckons its not worth trying to haggle further, the valuer basically said so what you've already had the mortgage agreed but another 10k off is a big chunk not to have to pay back. because we are battling persimmon I have no idea how feasible it is to expect a better outcome.

I understand I do have the right to appeal the valuation report in the same way we changed the agents because the first one who came up with the stupid 220 figure refused to put any offers forward to persimmon despite them telling us to put a cheeky offer in - I was quite serious when I offered 160 there and then and I would not quibble the build quality and 11 year old unfinished snags from the build date.

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update on the domestic front - explained it to the missus expecting the usual dribble about conspiracy theories, why can't you just believe the estate agents etc.. but she's taken to this and being a tax inspector has gone at it with that head on this morning. mind you I did point out that the difference in prices was a new kitchen and the garden room she wants ;) so she is now picking the valuation report to pieces and pointing out that just because we already secured a mortgage does not mean the house is correctly valued and here is our evidence to show his lack of comparable property and why the land registry/rightmove results are ample to show that that particular street is not moving in value.

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"and would rather not have to live there but you know what women are like."

Why don't you just grow a pair.

A pair of what?, neither of us want to move to birmingham full stop. she wont man up and commute is the main problem. 2 years and the govt would pay our move and sell the house for us. when we decided on which office she was going to retrain at she agreed to commute for the full term, that then dropped to a year then six months then she was looking at houses 3 months in. if it was my job I'd be stuck on the commute every day like I used to.

birmingham housing stock new and old is truly awfull. I did manage to get her off wanting to do help to buy and a some really awful new builds though.

she has no compiled her counter valuation and has realised that the house was overvalued by a good 50k if you use the immediate areas land reg figures so has decided she is going to fight for once.

which is good as it takes the pressure off the packing :)

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Its pretty obvious who wears the trousers in your house.

it's her house at the end of the day and her job move behind it. just like our last two moves. I've let her decide where we go since they told her she couldn't have kids so she went from prison service to immigration to HMRC so I don't expect to win many arguaments and just go with the flow.

so back to houses - solicitor agrees with our side of things and reckons the price difference is due to persimmon/charles church having to show a profit so both lots of estate agents and other fees have been lumped on it - which is where the extra 40+ comes from so its worth a good shot at it seeing as our buyers want to rent it we have some leeway.

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WTI I never realised Northfield was so expensive and why? commutable to the city centre I guess but there are many better places at half the cost. Wife pays £7.80 to for the train from Tamworth where we live 10 mins from in glorious countryside.

You would be paying Lichfield money (itself commutable to brum) at that price. I know where I'd prefer to live.

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