Surveyor valuation lower than EA valuations

(7 Posts)
BellaI Wed 17-Jul-13 16:45:48

Have just had survey done on house buying privately. The surveyor thinks the price is about 35k too high. Is this common and who's valuation is more accurate? It would go on make at £15k more than our agreed price.

georgedawes Wed 17-Jul-13 16:51:46

Surveyors of course, they're the professionals, the agent just wants the but.

georgedawes Wed 17-Jul-13 16:52:09

Business not but!

morethanpotatoprints Wed 17-Jul-13 16:55:57

This happened to us when we were buying our first home. The surveyor gave a price 5k below what the vendor was asking, they had to drop the price obviously as nobody would have been able to get a mortgage for more than it was worth, so we paid 5k lower than asking price.
Sorry OP, I know you are the opposite way round. I would seriously change estate agent as if they are valuing that far out, imo they aren't very good at their job.

RoseFlowerFairy Wed 17-Jul-13 16:58:39

Surveyor.

eggsandwich Wed 17-Jul-13 17:18:41

That happened to us when we brought our first home, it was a new build and the surveyor must of not liked new builds he was so negative about it, but because we had a large deposit we didn't borrow much from our lender, we sold it 11 months later for a profit of 80k so just as well we went with our gut feeling.

flow4 Wed 17-Jul-13 19:51:07

Surveyor, sadly. This happened to me too: 3 EAs valued £110-125k, surveyor said £95k.

Unfortunately, any mortgage co will ignore EA 'valuation' and use their surveyor's figure to work out how much they'll lend you. sad

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