We have had our house valued at 5,000 less than we are marketing it for.
I thought the market value of houses was what the buyer was prepared to pay for it. Other similar houses in adjacent streets have gone in excess of the
50,000 we are asking for though no houses have been sold down our street within the last 2 years. Do the valuers have some sort of database they consult as two different companies have now valued the property at exactly the same figure which to me is a bit suspicious. Once one has done the valuation do they post it somewhere so the other subsequent valuations are in the same ball park. ( I sense a massive conspiracy in the valuation field or am I just being paranoid).
There were a couple of inconsistancies with the last report as he said it was a 4 bedroom instead of a 3 bedroomed. Should the bank be concerned about this inaccuracy? I think the bloke really didn't know what he was doing. He got the postcode wrong plus the date the house was built. Should the bank be commisioning another report due to these errors? He also said he has no evidence that supported my figure (dispite houses selling for this price in adjacent streets within weeks) and then he said that there was high demand for houses in this area which is surely a contradiction of his own words.
What does every one think about this?