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Deliberate undervaluing of property????

from Julie (jmj260101@aol.com)
I read in an earlier posting of a Building Society 'protecting' itself against underselling a house by getting valuations done for £8000 less than the property sold for. When I received all my SARN info, it included 2 valuations done for the same amount by 2 different estate agents and the advertisement which was in the Estate Agents with the same asking price as the valuations. Within 2 months of this valuation the property was sold for £8000 more than the asking price and I really don't understand this. Could something dodgy be going on when getting these valuations done, are they deliberately undervaluing the property? If I saw an asking price of X in the estate agents window I wouldn't go in and offer £8000 over the top, at most you would offer the asking price. We're only talking about 8 weeks from when the property went on the market to when completion took place and the proceeds of sale entered on to the mortgage account so the property was sold pretty damn quick. I have repeatedly asked the Building Society for details on numbers of viewings/ offers made/ who it was sold to but the information is not forthcoming, they keep ignoring my requests and instead send me the 2 valuations over and over again. Anyone got any ideas??

Julie

(posted 7401 days ago)

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