ChatterBank3 mins ago
Deliberately under valuing
I know someone who was approached by a property surveyor about three years ago and this ultimately led to the fellow making an offer for my acquaintance's property. The offer was much too low for him to accept and that was that for then. More recently, someone else wanted to buy the place and went to arrange a mortgage but was told by the lender and their surveyor that there was on record a valuation from the first fellow that put the place at just over half what the new prospective buyer was prepared to spend. The sale fell through at that.
My acquaintance is understandably annoyed that it appears the first character has permanently blighted the valuation prospects for his property. From my knowledge of both the property and the market, I would say the second offer was quite close to what was a realistic, actual value of the place and generous land in the particular location. Due to developments in his circumstances he is now genuinely interested in selling whereas before it was interested buyers who came to him - is there anything the owner can do to effectively counter the unfavourable record ?
My acquaintance is understandably annoyed that it appears the first character has permanently blighted the valuation prospects for his property. From my knowledge of both the property and the market, I would say the second offer was quite close to what was a realistic, actual value of the place and generous land in the particular location. Due to developments in his circumstances he is now genuinely interested in selling whereas before it was interested buyers who came to him - is there anything the owner can do to effectively counter the unfavourable record ?
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