Valued at 20k lower than offer... Options?

hanvyj

Finally got the report! The reason he said all the timbers would need inspecting is that he got some high damp readings on the ground floor, so suspects they could have rotted.

LisaLou1982

Any update OP?

arwynbr

Hi, having read all the posts, my thoughts are that unless the vendor is willing to re negotiate you should walk away. You might want to sell yourselves in a few years, house prices seem to be static, so your buyers will get similar surveys / won't be able to borrow what you want for it.

In the 00s when buying a house meant guaranteed profit for a few years, and banks were less careful with their money, you could buy to do up slowly, even if you made a mess of it you would end up with more equity.

Being stuck in a property with negative equity is no fun, spending £1000 with no return is no fun either, but it may be better in the long run to cut your losses

movilogo

an electricity substation, located at the end of the terrace of houses. The possible effects of electromagnetic fields have been the subject of media coverage and public perception may adversely affect marketability.

Very valid point. I once walked away from a sale because of this. I liked the house otherwise. Mind that, few years back rules have changed and now new properties need to leave much more gap from substations.

Remember, sometimes losing just the survey money can be the best investment.