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Mortgage valuation
kiki*_2
Posts: 302 Forumite
Had my mortgage valuation back at same price that I paid. Have heard of this happen a lot. Is this the Market value or are they just saying yes we'll give you a mortgage on that, it's definitely worth that?
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Comments
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It doesn't mean it's a good price. It simply means that the valuer considers the property adequate security for the mortgage you've applied for.0
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Ah that's what I thought. It seemed a bit too coincidental that it was the same price!0
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Ah that's what I thought. It seemed a bit too coincidental that it was the same price!
It's the best way to establish the current market value of anything.
The price someone waiting in the wings has offered to buy it at via their own money, or a mix of borrowing. You are the market girl.0 -
The homebuyers survey says it will give Market value, will that be a real one or the price I paid?0
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The price you are paying IS the market value! Only in exceptional circumstances would it not be.
The market value is what a willing and able seller and a willing and able buyer agree upon. It not unusual for a valuer to say something is worth LESS than the agreed price, but in only very rare situations will they say it's worth more.If you feel my comments are helpful then I'd love it if you 'Thanked' me!
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Sonit doesn't actually tell you how much the property is worth anymore? Like an estate agents valuation?0
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