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Hi All,

Not specifically an IVA question but you are all so helpful on here....

I have recently sold my ground floor 2 bed flat in a seaside village on the south coast for £180k (this was asking price, estate agent valuation). I bought my property in 2015 for £155k and have done work to it.

I have sold to an investor and a valuation for mortgage is being done on Monday - I have been told they will need access to property.

I am a bit concerned as have read horror stories on downvaluations. The only thing "wrong" with my property is I had problems with moths which has now gone but the carpet has been eaten up a bit.

In terms of comparable the last flat in my block sold in Dec 2020 for 160k but they wanted a quick sale, and next door but one has just sold for 195k.

Do I have anything to worry about? and/or are there any experts on this forum I can ask?

Is the buyer a private investor or one of these national "we buy any property" chains ? The latter might try to downvalue, in which case you just tell him to get lost. An estate agents valuation is often a little generous, as they expect offers, but, as I understand it the market is quite good for sellers at the moment.

Most buyers, private and commercial would require a valuation before proceeding, but, at this moment in time, you are not bound to sell to them and can simply walk away if they try to re-negotiate.