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New Build Valuation and potential problems ....
abbieno7_2
Posts: 108 Forumite
Hi there
Please can anyone assist with our concerns.
We recently reserved a new build home (already built and one of the last 2 on the development) so the builders offered to let us purchsae it for 22,500 less than their original asking price. This was not actually advertised so wasn't officially a discount apparently.
My worry is that the builders have left the initial asking price in the window of the house and Halifax' valuers came out today to value the property for lending purposes. I am really worried that the valuer will have noticed the builders sign and this may cause the Halifax to ask questions as to why what we are paying is a lot cheaper? I have since read up on the web that if you are being offered a new build at a "discounted price" you need to declare it on your application otherwise the lender could withdraw their offer.
We are using a broker so havent completed the forms ourselves however she didnt put down on the application that it was reduced as so far as she was concerned (and as the Builders stated) it was an offer price due it being the last two on the development.
Can anyone shed any light on this please or do you think we are doomed and the offer will be withdrawn?
ps the Builder's rep called to say she had forgotten to take the note out of the window showing the previous price but the valuer had completed a CML form whilst he was at the property and hadnt asked her the price (which i wouldnt think he would need to would he? i presume he would already have this info from the Bank??) Sorry i am a FTB so not too up on this whole house buying process.
Any advice would be much appreciated!! Thank you
Please can anyone assist with our concerns.
We recently reserved a new build home (already built and one of the last 2 on the development) so the builders offered to let us purchsae it for 22,500 less than their original asking price. This was not actually advertised so wasn't officially a discount apparently.
My worry is that the builders have left the initial asking price in the window of the house and Halifax' valuers came out today to value the property for lending purposes. I am really worried that the valuer will have noticed the builders sign and this may cause the Halifax to ask questions as to why what we are paying is a lot cheaper? I have since read up on the web that if you are being offered a new build at a "discounted price" you need to declare it on your application otherwise the lender could withdraw their offer.
We are using a broker so havent completed the forms ourselves however she didnt put down on the application that it was reduced as so far as she was concerned (and as the Builders stated) it was an offer price due it being the last two on the development.
Can anyone shed any light on this please or do you think we are doomed and the offer will be withdrawn?
ps the Builder's rep called to say she had forgotten to take the note out of the window showing the previous price but the valuer had completed a CML form whilst he was at the property and hadnt asked her the price (which i wouldnt think he would need to would he? i presume he would already have this info from the Bank??) Sorry i am a FTB so not too up on this whole house buying process.
Any advice would be much appreciated!! Thank you
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