Down valuations

[doobedooboom]

Any idea how to have a reasonable idea if a house you want to buy is at risk of being down valued by the mortgage company? Going to see a property tomorrow that is quite far above the Zoopla price estimate and I suspect it will go for more than asking price. We don't have loads of equity in reserve and so if it is downvalued we likely couldn't proceed unless the seller agreed to reduce the price. Quite worried about this in the current environment - don't want to fall in love with a property and then lose it (this is our second attempt at buying!)

Zooplankton Estimates are SHIT!

6 of our houses, pretty much identical except a couple have GCH & 2 are end terrace. All have original bathroom & kitchens and not much variation in flooring/decoration/outside area.

variation of the 'estimated prices' are absolutely ridiculous!!

my advice would be to put in an offer you're prepared to pay & then take it as it comes. Yes, it's hard when you love it, but unless you can 'fish in another pond' offering what you can/are willing to pay us all you can do

It's really hard - no comparable sales in the area apart from about five years ago which were obviously much much lower.

We are in a tricky position as we can't lose our buyer (was hard to sell our house) and our first purchase kind of collapsed today (another story...). We could break the chain and stay with family but only if we had an end date in sight. Can't go into rented as we have pets which make that unfeasible. Hardly any houses on the market and this one looks good. We know from the previous house that we will need to offer quickly if we like it (we are one of about seven viewers tomorrow - house has been on the market for one day!)

So the pressure is on if we like it to make an offer and I think it will go higher but then even more of a risk of down valuation...

We need to move - this market is a nightmare!

Ignore the zoopla valuation, they are shite and the mortgage companies won’t pay any attention to them