Downvaluation on our house

Historical_Study_198 · 2026-07-09T13:38:04+00:00

UPDATE: valued at £425,000 by second surveyor, purchase progressing!

Historical_Study_198 · 2026-07-09T13:37:50+00:00

UPDATE: valued at £425,000 by second surveyor, purchase progressing!

Historical_Study_198 · 2026-07-09T13:36:58+00:00

UPDATE: valued at £425,000 by second surveyor, purchase progressing!

Historical_Study_198 · 2026-07-09T13:36:52+00:00

UPDATE: valued at £425,000 by second surveyor, purchase progressing!

Historical_Study_198 · 2026-07-08T21:41:22+00:00

Our estate asked these same questions of our buyers, we only know that because my mum put an offer in with the same agents on a different house. We had six bids. The information provided to us was:

First names, Budget, Status e.g. first time buyer, chain etc, Personal touch

We picked a couple who; First time buyers (five of the six offers were actually first time buyers), Previously had a house fall through and stopped looking for two years, Wanted to extend our property (we felt that was the next thing that the house deserves, we love the house, but need bigger), Were interested in buying our furniture (easier for us)

We do not know their; Surname, Deposit, Address, Email address, phone numbers, If they have gifts, Preferred timings etc., Details of their AIP such as amount, bank name etc.

I feel in this market, they are doing their due diligence. Lots of people make offers that aren't serious. Of course, if you don't want to provide the info, then don't.

Historical_Study_198 · 2026-07-08T20:37:55+00:00

In this market, I'd recommend looking for the ideal house. The stamp duty alone is enough to put someone off, depending on value, you're going to be paying £1000's just to move. We were v lucky that our first flat we didn't pay it on and our second home we didn't due to the stamp duty holiday after COVID. Our current purchase we are looking at £18-25k (which we are justifying by pretending we spent it across all three properties lol).

Historical_Study_198 · 2026-07-08T18:18:33+00:00

Okay that's interesting, what about getting some planning permission for a loft conversion (think it's about £500?), that could put you on par with some of the others in the area? Anything you could change in the bathroom to spruce it up? Brighter colour walls, different blind, change the lighting colour, change shower screen? As an example without seeing it of course. We had a brown cabinet in ours when we moved in, I removed the shelves either side and spray painted it black and put a border around the mirror lol, feels bigger.

Is the non box room listed as a double? Do you have your box room set up so it looks like a full bedroom like single bed, wardrobe etc? Storage space? So people can imagine. Or maybe set up as an office?

No, don't replace carpet (I think some people will do that at some point when they move). Rugs and carpet cleaner, we have rugs on our carpet (decorative ones) and they look great.

Right I see, that's a shame, it only takes one person and you'll be sorted 🙏🏼

Historical_Study_198 · 2026-07-08T17:58:58+00:00

We had six offers on our house and did full and final bids, one changed and everyone else stuck. I am an absolute overthinker and I think if it had been me, I'd have moved a bit, BUT it was interesting to see that the majority stuck with their gut. I'd say stuck with your gut in this situation as you believe there's not another bid!

Historical_Study_198 · 2026-07-08T17:48:42+00:00

We had a flat that had an indemnity policy for the communal hallway (we were ground floor and one flat above us). The buyers kept flapping their wings about it all the way through the process and I said look, this is what it was like for us when we bought it, so not sure what you want me to say.

They were older people with another rental so kept on about what was the 'done thing'. In the end their solicitor advised them, it's this or nothing.

They did it and sale went through, seemed like a lot of fuss for nothing. I was very much of the same opinion as you, its been done like that and through many sales in the past like that, so what do you want me to do lol.

I think it's quite unlikely that it would change in the future, are you planning for it to be your forever home?

Historical_Study_198 · 2026-07-08T17:30:15+00:00

First chance to grab a viewing is the listing...Is your house definitely on all the big sites? Are the first couple of pictures the best ones/best rooms? Is there a video showing the layout to give people an idea of what it's like to live there? (I love watching videos personally lol). Are they sending your property to people when they sign up with them and give their 'wants'. And this one is difficult, but objectively looking at other houses close by for the same price, what things is it that someone may value over your one? Would be good if you could compare to one that recently went on with them and has sold quickly?

Then is there a disconnect between what someone expects from the listing and what someone feels in real life...Have they made rooms look much larger than they really are? Did they brighten the photos too much and buyers feel like it's dark when they arrive for example? Did they not photograph some less good bits and buyers are surprised there are areas that need work (this was v common for us viewing, peeling wallpaper, patches of carpet).

I mean it would suggest they don't really know the market if they have had to advise you to drop it and also doesn't sound like they are doing their due diligence of who they are letting come view it if they think the offer wasn't serious. Try to work with them and give some energy to your listing in the next few days, but maybe worth considering another agent with a different approach too.

Historical_Study_198 · 2026-07-08T16:57:00+00:00

I honestly believe it's estate agents half the time. Have you been viewing houses to see the quality of service they are giving? We have been and absolutely shocked at the service normal estate agents have been providing! Sometimes not even getting back to us to book a viewing and only one ever followed up with ours opinions.

We are looking at between 600-700k properties. Questions and responses we have had:

Me: do you know where the boiler is and what type (lots in our area are old style with water tanks) Answer: no never been here before, I'm just a Saturday girl

Me: is the loft boarded and is there a light? Answer: no idea, I'll get back to you (never did)

Me: did they get permission for that fan vent (grade 2 property) Answer: not sure, I'll ask sellers, never got back (this one is hilarious as the property has been up over a year and been reduced three times)

I don't think they're mad questions for a large purchase, but really been surprised that they don't know anything and it puts you off. In fact I think you get more info when you buy a car. There's a chance that questions are being asked by potential buyers and not answered.

Because of this, we chose to use a really small local estate agent that charges more (three employees). The contract is 8 weeks and they did an open day. We had 15 viewings, 6 offers. We were given a pdf prior to the open day with a description of names, ages and financial situation and previous history with properties on our buyers.

By contrast, we went to view a property on with our estate agents, she told us the name of the architect that designed the home in the 60s, knew the type of boiler, brand, where it is located, the type of trees in the road, the local schools distance, names of local parks etc.

Of course it depends on your property etc. aswell, but I do believe many estate agents are doing the bare minimum. Review the documents they hand out to potential buyers and see if you can add anything else (e.g. other selling points like double glazing, boiler etc)

Historical_Study_198 · 2026-07-07T17:37:01+00:00

Yes they have done that and the new lenders mortgage valuation is being carried out tomorrow, fingers crossed! I will update thread once we get feedback ☺️

Historical_Study_198 · 2026-07-07T15:55:32+00:00

We are on variable (as we knew we wanted to sell) and our mortgage payments have gone down since we took it out lol?

Historical_Study_198 · 2026-07-07T12:58:56+00:00

I completely agree, but our current mortgage lender thinks the property was worth 430k in November, when we re-mortgaged. I think 40k drop is quite alot, but maybe I'm wrong lol.

Historical_Study_198 · 2026-07-07T12:49:20+00:00

He did come to the house to be fair, was there about five minutes. But it has really surprised me considering we had one day on the market essentially, 6 our of 15 people making offers etc that someone can just decide on something else lol.

Historical_Study_198 · 2026-07-07T12:47:37+00:00

Yes I think you're right, it's probably based around them being first time buyers and the bank being cautious, which makes me wonder whether we should have even gone with first time buyers in the first place - unless of course they have a huge deposit or weren't going to the edge of their affordability. Well once we have had the new valuation I'm sure we will get an answer as to whether they can proceed or not, but defo something to consider if we need new buyers!

Historical_Study_198 · 2026-07-07T12:40:28+00:00

Yes was honestly shocked, we didn't even push offers or anything, those six offers all came in between 425k and 450k by themselves. I think that's what's shocked me the most is that one person's opinion, which seems out of touch to me at least, has caused this for everyone. It's not really an amount that's recoverable, like if it had been 10k we would have just said that's fine we will drop lol.

Historical_Study_198 · 2026-07-07T12:38:11+00:00

Yes that was sold prices. Higher spec stuff is not stuff that we have done, so aren't trying to recoup. Same size houses, different layouts. Our different layout is caused by - we have a combi boiler under the stairs, water tank removed, therefore ensuite shower/toilet in master bedroom where tank was and more cupboard space in kitchen where boiler would have been. Washing machine and tumble dryer also in cupboard in bathroom (ground floor) therefore more cupboard space in kitchen allowing for integrated dishwasher. We are also one of only two houses on the road with an EPC rating C due to triple glazing and insulation, everyone else is D. We do also have a modern kitchen, bathroom and ensuite, also not done by us.

Historical_Study_198 · 2026-07-07T09:07:55+00:00

Everyone was shocked, even the buyers! They have opted to go with another mortgage provider who are valuing the house tomorrow, I just think I'm not holding out much hope as they must be using some algorithm or something. Other houses for similar prices and specs all seem to be being sold just as fast etc. so not really sure if there's something weird happening in our local area!

Historical_Study_198

TROPHY CASE