Quote Originally Posted by Blue in the Face View Post
Oh board of all knowledge. Sorry to clog the board with this thread. Just desperate to get some advice from some wiser more experienced heads.

I'm currently in the process of selling my tiny one bed flat in London. I accepted a bid a margin less than neighbours had sold a year ago as the market is clearly cooling. The buyer has submitted a PDF of a survey report saying the valuation is right in accordance with the bid. But the survey report is saying the value of the property is going to drop a steep amount in the next 90 days. Do the banks dictate the market? Or is it demand driven?

I feel like I'm being scammed or low-balled by an experienced buyer who knows brinkmanship. Should I hold out? Or accept the offer a fair whack under what the value is now?

Thanks for anyone who has time to give their 5p!
I think you are right to be suspicious. Firstly, why would a buyer - or anyone financing that buyer - be making an investment which they are claiming to fall 'drop a steep amount' in the next 90 days ? That just doesn't add up. Secondly, are they saying that your property is going to fall in value, or those in the same area, or those in London, or the whole of the UK ? As someone who knows a bit about property, I can assure you that nobody anywhere is making such predictions.

Best way to handle the situation is just to chill and be patient. Providing the offer you accepted was only 'marginally smaller that your neighbours, then you are in control. If he tries to drop the price a later stage just say 'no thanks' - he'll either proceed because he's already paid expenses out, or he will back out. Don't panic, the flat will still be worth the same. Just one small thin you should to. Go onto Rightmove/Zoopla etc and check out 'sold prices of others in your block [if you haven't done so]. You may find your selling to low, not too high...