Fairyland Posted September 4, 2016 Share Posted September 4, 2016 If true, this should help you beat Monday blues. My Buy to Let properties are being undervalued? Has anyone else been finding that valuers are undervaluing properties for remortgage purposes. They seem to have gone from one extreme to the other. I am currently remortgaging 4 properties one of which I know I could sell for 90k easy, and a valuer has just said 72k!! There are no houses in this area for less than 80k and they need serious work mine has just been redone throughout. Another I have a bungalow worth 150k on the market and a valuation came back at £135k. It seems completely random, but as if they have some agenda. Very frustrating when trying to achieve 75% equity. I remember the glory days when they just asked what you thought it was worth and agreed with you! Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 4, 2016 Share Posted September 4, 2016 Criminal... Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted September 4, 2016 Share Posted September 4, 2016 Ah, the glory days of self-valuation.... how I miss those. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 4, 2016 Share Posted September 4, 2016 There are possibly new lower speed limits outside these houses so the drive by valuers are seeing more flaws in the houses. There should be a minimum speed limit for drive by valuers of 50mph that overrides local maximum speed restrictions, in the national economic interest of course. Quote Link to comment Share on other sites More sharing options...
Paul77 Posted September 4, 2016 Share Posted September 4, 2016 I feel sorry for him... Quote Link to comment Share on other sites More sharing options...
jfk Posted September 4, 2016 Share Posted September 4, 2016 Just raise the rent innit? Quote Link to comment Share on other sites More sharing options...
MonkeyPuzzle Posted September 4, 2016 Share Posted September 4, 2016 This is big news. We have a dead canary in the coal mine, folks. One bright yellow canary with beautiful plumage has joined the choir invisible. This 'property investor's portfolio is turning to dust before her very eyes and she thinks it's just a valuator making shorely shome mishtake. Er, no. No mistake. Your property really IS worth a lot less now than it was. Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted September 5, 2016 Share Posted September 5, 2016 Obviously thick in any case, or s/he would not have put a ? at the end of a sentence that is not a question. For that alone, s/he deserves all s/he gets. Quote Link to comment Share on other sites More sharing options...
london_thirtythree Posted September 5, 2016 Share Posted September 5, 2016 The sense of entitlement is strong in this one.. I love the fact that the first thought is to reach for a conspiracy theory - if estimated prices go up, then its a market *init*, but if prices go down, then it must be someone else's fault. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted September 5, 2016 Share Posted September 5, 2016 This is big news. We have a dead canary in the coal mine, folks. One bright yellow canary with beautiful plumage has joined the choir invisible. Must've died of old age, so we'll carry on as normal! Quote Link to comment Share on other sites More sharing options...
Sandwiches33 Posted September 5, 2016 Share Posted September 5, 2016 So finally a little bit of free market creeps in and they dont like it. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 5, 2016 Share Posted September 5, 2016 Had almost stopped laughing....but i've started again.... Quote Link to comment Share on other sites More sharing options...
eek Posted September 5, 2016 Share Posted September 5, 2016 (edited) Had almost stopped laughing....but i've started again.... Why do you think you will stop laughing anytime in the next 5 years? This entire story is just going to keep on giving (see my signature).. Edited September 5, 2016 by eek Quote Link to comment Share on other sites More sharing options...
Parkwell Posted September 5, 2016 Share Posted September 5, 2016 I'm playing the smallest violin in Europe, if not the world. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 5, 2016 Share Posted September 5, 2016 Why do you think you will stop laughing anytime in the next 5 years? This entire story is just going to keep on giving (see my signature).. Oh I think I'll stop when the big war starts. Quote Link to comment Share on other sites More sharing options...
winkie Posted September 5, 2016 Share Posted September 5, 2016 Have to allow for falling prices. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 5, 2016 Share Posted September 5, 2016 (edited) Have to allow for falling prices. This site is just full of a bunch of losers. We might have all the cash. but the BTLers have got the houses... They'll rent out the houses and get all the cash.. What do you mean, you're leaving the UK for good.... ....STILL LAUGHING. Edited September 5, 2016 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
hi5lo5 Posted September 5, 2016 Share Posted September 5, 2016 This site is just full of a bunch of losers. We might have all the cash. but the BTLers have got the houses... They'll rent out the houses and get all the cash.. What do you mean, you're leaving the UK for good.... ....STILL LAUGHING. Continue laughing... https://www.property118.com/may-possibly-default-buy-let-properties/90246/ F***ing criminals. They should be jailed Quote Link to comment Share on other sites More sharing options...
moonriver Posted September 5, 2016 Share Posted September 5, 2016 https://www.property118.com/may-possibly-default-buy-let-properties/90246/ F***ing criminals. They should be jailed Unbelievable! And as usual, even if they have been model tenants, the poor tenant is the one who gets the kick up the backside, via an eviction notice! Quote Link to comment Share on other sites More sharing options...
eek Posted September 5, 2016 Share Posted September 5, 2016 Unbelievable! And as usual, even if they have been model tenants, the poor tenant is the one who gets the kick up the backside, via an eviction notice! See my post http://www.housepricecrash.co.uk/forum/index.php?/topic/205642-btl-scum-regrouping-and-on-the-offensive-merged/?p=1103092359 but the advice he's being giving is rubbish and he is potentially far more screwed than he thinks he is... Quote Link to comment Share on other sites More sharing options...
Fairyland Posted September 5, 2016 Author Share Posted September 5, 2016 People walk into BTL as an investment and then get all emotional if the investment goes south. Find others to blame. Quote Link to comment Share on other sites More sharing options...
london_thirtythree Posted September 5, 2016 Share Posted September 5, 2016 This does sound a nightmare, so I do feel for the guy. (that and he is clearly a contractor as I used to be - probably in IT as well) But then, I'd love to know how exactly he got into that situation. I don't know Liverpool too well but haven't houseprices up there remained largely static since the 2008 crash, but that is static, not falling, so how did he get 200k in debt? The old equity as next deposit trick to doom, or something else. Makes a bit of a mockery of the 118 post about how being into BTL whilst renting is the best way to be - sounds like its turning into a disaster for this chap. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 5, 2016 Share Posted September 5, 2016 Continue laughing... https://www.property118.com/may-possibly-default-buy-let-properties/90246/ F***ing criminals. They should be jailed "I have a number of Buy to Lets purchased high end of market in the Liverpool area" Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 5, 2016 Share Posted September 5, 2016 (edited) I know a couple of people that got stung buying in manchester in 2007...they lost a fortune and ended up getting a divorce. it seems many people dont learn from history I do actually feel sorry for many of these people. Wait till the actual crash comes.... Edited September 5, 2016 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
eek Posted September 5, 2016 Share Posted September 5, 2016 This does sound a nightmare, so I do feel for the guy. (that and he is clearly a contractor as I used to be - probably in IT as well) But then, I'd love to know how exactly he got into that situation. I don't know Liverpool too well but haven't houseprices up there remained largely static since the 2008 crash, but that is static, not falling, so how did he get 200k in debt? The old equity as next deposit trick to doom, or something else. Makes a bit of a mockery of the 118 post about how being into BTL whilst renting is the best way to be - sounds like its turning into a disaster for this chap. Given that in 2005 (albeit in the North East) I decided not to do any BTLers as there was no plausible upside left - I really don't have any sympathy. I reckon High end means New Build with all the "unexpected" side effects that come from that... Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.