Advice on valuation

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So we accepted an offer on our house about 10 days ago. The surveyor came out then did a desktop valuation....said it was work 25k less that what had been offered. We can afford to go £10k under but not £25k. The buyer can't go to another mortgage provider as they had tried a few already so it didn't look likely they could go with a different one.

I'm not looking online and the general consensus seems to be,that EA are massively overinflating the suggested prices which is why there are so many people finding the mortgage provider valuation is not matching up or that so many people are having to drop their price.

Can anyone offer me advice on whether this is actually the case because if so,I'm thinking we need to be more realistic in what our asking price is as we just want a quick sale at this point. Or could it just be this 1 valuation is just off and its worth while getting another one done? The mortgage provider was Accord Mortgages so not one of the big 5 if that makes a difference.

How many EAs valued the house before it went on the market?

Do you mean your buyers had to try multiple lenders to get a mortgage on this specific house, or to get a mortgage at all?

We had 4 come out. 230-240 was 1 recommendation. The other 3 days 240-250. We went for offers over 240 because we want a quick sale.

That buyer told the EA they had tried 8 other mortgage providers before they found Accord. Which obviously rang alarm bells when we found out. The person buying is Australian and our mortgage broker said that's probably why they've had such difficulty getting a mortgage. So disappointing as we really wanted to sell to them

Even the lowest valuation at 230k is probably a bit optimistic. The best way to find out is by using a RICS independent surveyor.

Can you find out why the valuation was low? What have other houses sold for in the area?

I know mortgage companies are much stricter now, but surely it depends on how much they need to borrow, we once bought a house that the valuation for mortgage said was worth around £5000 less than our offer but we weren’t borrowing the full amount so ultimately it was our choice if we wanted to pay the extra, we really liked the house so did.

I've suggested this to my husband but he's said because it wasn't our valuation and our application,he doesn't think they'll tell us. I dunno,maybe he's wrong.

Can I ask why you'd say it's a bit optimistic?

Agents in the current market are often still valuing property at prices that were achievable during the era of low borrowing costs. What they don't usually tell the vendor - is that the pool of clients that can afford, and particularly the number of banks that will lend at (high Ltv) on those prices has massively shrunken. So although the valuation might be achievable, if they can find you a perfect buyer, the chances of that happening are now much smaller. They don't want to loose an instruction by explaining this at the beginning and prefer to let the market adjust your expectation. Which I guess is understandable as there is always a chance that a buyer will like the property enough, and be in a position to overpay.