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Valuation issue
JIMBO1970_2
Posts: 7 Forumite
Hi all. I am purchasing a house and have just had the survey done via A&L. We have agreed a price of 146K with the seller, but the surveyor has said it is only worth 130K, or 135 with some work done. It is my first house move, and am not sure what to do next. Any ideas would be appreciated.
Thanks in advance,
Jim.
Thanks in advance,
Jim.
0
Comments
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Advise the seller and lower your offer to this price. you can also advise them that the morgage company wont lend you the agreed amount due to the lower valuation.If it doesnt pay rent sell it.
Mortgage - £2,000
Updated - November 20120 -
In practice, a seller might not be in a position to sell if they don't get a certain price. Valuers are often cautious, especially if you are taking a high percentage loan. The seller could easily refuse to lower the price remarket and find the next valuer offers a higher valuation. You may have to accept that you have to pay more than the valuation.
That said if there are other houses you like you may want to look around again.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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