50% of NI homes down-valued by surveyors

Posted: 28/10/2021


50% of properties sold in Northern Ireland between May 20 and April 21 were down-valued by surveyors, which is above the national average of 43%. Surveyors down-valued homes by 4.9% which on average is a whopping £7,500 per property ! That is a figure that does not surprise us here at Key One. Surveyors are naturally a cautious bunch, but the industry has been subject to several high profile legal actions concerning alleged over-valuation, so whilst it can be both a surprise and a frustration to both buyers and sellers it is something that we have to regularly deal with. At Key One Property, we reduce the likelihood of sales falling through due to our Buyer Bond Scheme. Whilst this does not compel a buyer to complete an agreed sale, it compensates the seller where the buyer withdraws without good reason. That includes where a buyer receives an adverse survey and instead of changing their offer they withdraw*. We also offer a sales fee of just 0.5% inc VAT.**

*Subject to scheme t&cs, ** subject to our t&cs and minimum fee. 

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