Surveyor has undervalued property.

newhomebuyer-

Oh no, we are in the same boat! We were hoping they would keep to their word of either honouring the valuation price or challenge the valuation company (which they told us they would do before we applied and paid for the mortgage application)

Now we don't know what we can do! They told us we can either take it or just back out and they will give our reservation fee back. But we don't want to after putting so much planning and heart into our potential first home over the past 4month! Also we would lose thousands in our mortgage application, valuation and legal fees!!

What site did you reserve on Shumm?

We feel so cheated about the whole situation and wish there is someone that can help us I know they have honoured a lot of undervalued properties in the past, but "that was in different economic climates though".

P.s. we also just did some research and less than a year ago they were sold for £30,000 cheaper!! and I am sure the property market has not gone up that much!

betmunch

Shumm - What happened about your fees?