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Low valuation on property.

The period country cottage we purchased was on the market for 375,000 10 years ago. After much negotiation we had the house down to £350,000. Since then we have purchased the adjoining field directly at the end of the garden, added a stable and tack room, new bespoke kitchen etc, etc. Zoopla has a estimate of £471,000 so you can imagine our horror when the cottage was valued at £350,000 and we were told it would be £300,000 if we did not have the land & stable, we still don't understand this a property that was on the market for £375,000 10 years ago has not valued in any way, what are your thoughts on this?

Asked on Jul 23 2014, House Prices in Lincolnshire | Report content

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  • Outside London and SE prices have not moved in Ten years.

    Web reference: http://picasaweb.google.com/lh/photo/LAOkPa5bCQ-zvxe5M_Pg...

    Answered on Jul 24 2014, Report content
  • If you property is unique, it can be difficult for an inexperienced agent to provide an accurate valuation. Since most agents will come to their valuation by looking at similar properties that have sold in the surrounding area, if there is nothing to compare that has sold recently, it may have thrown them. Does that estate agent have a strong presence in the area, have they sold many similar properties? I would advise that you arrange valuations with a couple more agents and see what they come back with. Consider a couple of points, firstly, your kitchen when you bought the property would now be ten years older than it was when you first purchased the property. Also, I would always advise to take the Zoopla valuations with a pinch of salt, as would any other estate agent. Best of luck with your sale.

    Answered on Aug 20 2014, Report content

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