St Neots home overvalued by £27,500

 

A Chartered Surveyor has inspected a family home in St Neots. He found the property to be in good condition. However, it was his opinion that it was significantly overpriced.

Location, condition and convenience – St Neots property appeared to have it all

The good news for the buyer was that the three-bedroom home was in fine condition. The Surveyor noted that, apart a few leaky gutters, the 30-year-old property was showing few signs of weathering.  

The home was located on the south side of Cambridge’s largest town. In 1973, St Neots was listed in the Hansard parliamentary recordings as one of those settlements designated for commuter overspill from London.  

Situated on the A1 and home to St Neots Community College, the community quickly became a thriving hub for commuters and dormitory students.

Residents of St Neots also benefit from living closer to the capital’s Luton and Stansted airports than most Londoners.

The price is not right,  reports Home Buyers Survey in St Neots

This Home Buyers Survey in St Neots was seemingly going along according to the script, until it came time to value the home.

Although the Chartered Surveyor found no structural defects or issues with the location, valuations consider general and local market trends as well as the condition of the property. With this in mind, the Surveyor came to a value that was considerably lower than the listed price of the property.  

A Home Buyers Survey is powerful bargaining chit

The buyer would have been wise to consider such a large discrepancy before proceeding to sale. Their HomeBuyer Report would give them considerable power to negotiate a lower price for the St Neots home.