 Any ideas - Problem Neighbour? |
Myself and my fiance have been living in our current house since july last year. We rent it from Leaders.
During our first viewing of the property, the neighbour took the leaders ... |
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 Apartment maintenance problems...what can I do??? |
| Ok, so for the last 4 to 5 months our air conditioner has not been cooling properly. The maintenance guy came and attempted to fix it but couldn't figure it out. He then promised to order a new ... |
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 Please help me, im so mad and scared about this pls help? |
| k my mom and dad got divorced and now because my dad refinanced on the house 2 times the house payment is 1500 a month!! so now the bank will take our house away in august if we cant pay the bills or ... |
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 Mortgage - If Bank Goes Under What Happens To Borrower? |
If your Mortgage Lender Defaults what will happen to the borrower?
Ok, They will try to sell your loan. Can they demand payment in full (call the loan?) Are there any legal protections ... |
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 How do you buy a piece of land when it is for sale by owner? |
| How do you go about buying property when it is being sold without a realtor. What do you do and how do things get organized (ex. the closing etc...) Also do you have to pay tax on the property when ... |
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 Please solve? |
| A real estate agent received a 6% commission on the sale of a home. If the home sold for $596,000, how much was his commission?... |
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 Who is responsible for a loss rent money order the renter are landlord? |
| the renter are late more then once now they say that the money order was lost and can't pay their rent until Jan 2 ,the law says that you have to wait 3 months to put them out ,rent was due on D... |
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 Should a real estate broker charge for a home price appraisal? |
| They are not wanting to sell their home, but they are interested to see what there home is worth. Do I charge? Normally, if someone comes and wants to sell there home, I go in and tell them what a ... |
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 What is the better choice? All opinions appreciated please!!? |
| I asked this yesterday, but I guess I did not explain it well enough to get the answers I wanted. My husband & I are a military family. We have 2 kids aged 4 and 1. We live on a post, but have ... |
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 Real Estate Question? |
| My husband and I are currently house hunting for our first home. A few of the houses we are looking at are out of our price range, and we are thinking of trying to talk the sellers price down. Our ... |
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Perfectionist | Was is the risk of buying a property at above the surveyor's valuation? |
apart from the obvious |
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toadoflossers
 |
Sorry - can't fathom the meaning of your "Was is the risk...." ! ! ! |
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Barbarian
|
If you pay over the valuation, (and you can get other valuations that may have different values) you are paying a premium over market price. It will affect any loans you take out against the property and also means that when you come to sell, market price may not rise high enough to cover the premium. Consequently you may take a loss on sale.
Most property experts recommend to take a long term view on house prices and figures show vaues rise over time even if they dip in the short term, but you are taking a risk on market conditions on selling. |
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acermill
|
The surveyor's valuation is his 'best estimate' based upon the information available to him. His valuation is not carved in granite in any fashion. The level of risk involves the future, of course. You may do very well paying above market if the future brings a buyer who desperately wants the property from you, even if said person has to pay more. Conversely, you can lose money, even if you pay LESS than surveyor value, if something should occur which will devalue the property to under its current valuation.
The obvious includes difficulty in obtaining a mortgage if the purchase price is higher than the surveyor estimate. You CAN get a mortgage, but it will be limited to the surveyor estimate or below. |
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kayode S
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post an ads say on www.tioso.com, describe what you want and wait for the response |
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Pam H.
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I would inform the sellers that you do not intend to pay more than the current valuation, which is likely dropping even as you read this question....
Unless there is some overwhelming reason that you simply must have this specific slice of american land right now I would not buy it under any circumstances!
The sellers need to hear it though, so they can begin the pain of adjusting their expectations; it is a very bitter pill to swallow for most right now, but, just walking away without telling them the reality is like enabling a drug addict. |
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Malik K
 |
If the purchase price is 350K, The valuation is 330K. Your mortgage provider will, base his mortgage advanve to you on the lower amount of the two. In this case 330K.
If the valuation is more than 10% lower than the asking price, then I would be concerned. Maybe your paying too much
Valuations are normally always lower than the asking price.
If other properties sell for around the same price, then your probably paying the correct price. |
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tomas b
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insanity at the moment you should pay today between 5 and 20% below valuation Don't forget more people are in negative equity than realise it in other words its a Byers market |
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Jonathan U
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The things to bear in mind are that values are falling, and I think the trend will continue for 2 or 3 years, by which time values may be 25% lower than they are now. Secondly, you may not get the full mortgage you need. However the best valuer is you! Look at other houses in the area, and if you are satisfied that your purchase is a good one by reference to other houses and local sales, then there is no reason not to go ahead. If this is THE house for you, and you plan to stay for more than 10 years, then it wouls be foolish to loose your dream house just because of a surveyor's opinion. PS, I'm a surveyor too!! |
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foxystorky
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It will affect the amount of mortgage you require |
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