r/Glasgow Tools

Title
Author	daleharvey
Comment	There is not "one piece of evidence", the reason everyone in the transaction knows the house will sell for £200k is because it is blatantly obvious from comparable properties around the area. The idea that everyone is wrong except the home report surveyor, who just so happens to be so consistently wrong that you can guess how wrong they will be before the house sells is utterly silly. 1 person can buy a house for more than the market value, if the entire market keeps doing consistently then your market value guesses are simply incorrect. [https://www.reddit.com/r/glasgow/comments/vm01uw/how\_much\_above\_the\_home\_report/](https://www.reddit.com/r/glasgow/comments/vm01uw/how_much_above_the_home_report/) Not every market is like this, if I ask for a survey of a house in Brighton then the surveyor is going to come back with a number that is relatively close to what the house will sell for, thats the number I will be able to get a mortage for. If I check the home report value of a house in the West End then I know even right now, that I will need to be paying at least 10% above that to even have a chance which means on top of my mortgage + deposit I will also need another few 5 figures in cash to buy a median flat. Now I know it doesnt just happen because surveyors are idiots, its an accidental byproduct of our particular house buying process. But it has a negative effect first time home owners so its particularly annoying for people to be blindly defending it because they do not really understand what is actually happening and the effect that has.
Reddit Link	https://www.reddit.com/r/glasgow/comments/175qou2/in_scotland_overpaying_to_buy_a_property_is_not/k4qopu4/
Created	Fri 13th Oct 2023 7:32pm
Status	normal ()

There is not "one piece of evidence", the reason everyone in the transaction knows the house will sell for £200k is because it is blatantly obvious from comparable properties around the area.

The idea that everyone is wrong except the home report surveyor, who just so happens to be so consistently wrong that you can guess how wrong they will be before the house sells is utterly silly.

1 person can buy a house for more than the market value, if the entire market keeps doing consistently then your market value guesses are simply incorrect.

[https://www.reddit.com/r/glasgow/comments/vm01uw/how\_much\_above\_the\_home\_report/](https://www.reddit.com/r/glasgow/comments/vm01uw/how_much_above_the_home_report/)

Not every market is like this, if I ask for a survey of a house in Brighton then the surveyor is going to come back with a number that is relatively close to what the house will sell for, thats the number I will be able to get a mortage for.

If I check the home report value of a house in the West End then I know even right now, that I will need to be paying at least 10% above that to even have a chance which means on top of my mortgage + deposit I will also need another few 5 figures in cash to buy a median flat.

Now I know it doesnt just happen because surveyors are idiots, its an accidental byproduct of our particular house buying process. But it has a negative effect first time home owners so its particularly annoying for people to be blindly defending it because they do not really understand what is actually happening and the effect that has.