Selling a house

[Marsdinho]

Bit of a long story, but I'm trying to sell my housing association (H.A) house.

 

Because various people have agreed to purchase the house only to then pull out, the H.A asked us to have a new valuation done as they feel the current one is out of date. We paid £60 for this to be done a couple of days ago...

 

The house was originally valued in Oct / Nov last year, they are now saying that the value has declined by 3.7% since that time.

 

I don't think this is correct and want to challenge their valuation, however, all I can get my hands on are house price reports from the national press, and Zoopla.

 

Is anyone on here able to point me in the right direction of any information that could help prove my point (or, I guess, prove theirs!!)

 

Or, are there any estate agents etc on here that can offer any advice.

 

Many thanks

[buctootim]

Bit of a long story, but I'm trying to sell my housing association (H.A) house.

 

Because various people have agreed to purchase the house only to then pull out, the H.A asked us to have a new valuation done as they feel the current one is out of date. We paid £60 for this to be done a couple of days ago...

 

The house was originally valued in Oct / Nov last year, they are now saying that the value has declined by 3.7% since that time.

 

I don't think this is correct and want to challenge their valuation, however, all I can get my hands on are house price reports from the national press, and Zoopla.

 

Is anyone on here able to point me in the right direction of any information that could help prove my point (or, I guess, prove theirs!!)

 

Or, are there any estate agents etc on here that can offer any advice.

 

Many thanks

 

Interrogate the Land Registry's database. Definitive.

http://www.landreg.gov.uk/house-prices/house-price-index-custom-reports

[Ken Tone]

Bit of a long story, but I'm trying to sell my housing association (H.A) house.

 

Because various people have agreed to purchase the house only to then pull out, the H.A asked us to have a new valuation done as they feel the current one is out of date. We paid £60 for this to be done a couple of days ago...

 

The house was originally valued in Oct / Nov last year, they are now saying that the value has declined by 3.7% since that time.

 

I don't think this is correct and want to challenge their valuation, however, all I can get my hands on are house price reports from the national press, and Zoopla.

 

Is anyone on here able to point me in the right direction of any information that could help prove my point (or, I guess, prove theirs!!)

 

Or, are there any estate agents etc on here that can offer any advice.

 

Many thanks

 

As said land registry is only the definitve list of recent actual sale rpices . However there are severial indices used or price changes. Eg See http://www.nationwide.co.uk/hpi/ . If you search on that long enough you'll find a regional index for different types of house. This is usually accepted as a reliable measure of how prices have changed. So if that shows less than 3.7% , then you can argue that either the new valtuation is wrong -- or the original one was!

[buctootim]

You can do prices changes on the Land Registry too - except you can additionally do it by county /city rather than region and by month rather than quarterly

[trousers]

I often use this site for this kind of thing: http://www.mouseprice.com/house-prices

[Marsdinho]

Thanks very much, can always rely on SWF for expert advice.

 

Cheers

[Crouchie's Lawyer]

Good luck!

 

I am a mortgage advisor and valuations on property are the bain of my life.

 

Unfortunately, whilst using things like the land registry and Zoopla will provide you with good material to agrue your case, a valuation on a property is based upon someones opinion.

 

I have had a case recently whereby one lenders surveyors valued the property at £190,000 one month and another surveyor for a different lender valued the property at £180k only 3-4 months later. Thats a large decrease of circa 6%. This after an estate agent had valued the property at £200k and sites like Zoopla would tend to have agreed with this figure.

 

The difficulty in valuing a house is that as mentioned it is based upon opinion which can differ from one person to the next, even if they have the same qualifications!

 

The only way of knowing what a property is truely worth is seeing what someone is willing to pay for it. How often is it an Estate Agent will tell you the property is worth £200k but when you put it on the market you only end up getting offers of £180-£190k?

 

Good luck in trying to get them to overturn their valuation but unless you can demonstrate that one or (ideally) more properties, extactly the same as yours has sold for a higher price within the last 3 months, it is almost impossible to get a surveyor to change their mind.