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House valuation by mortgage company
Rosy_Apple
Posts: 152 Forumite
Hi all,
We have had an offer of £245,500 accepted on a house which was on the market for £245,000. Another couple were also bidding hence why we went just over asking price.
I am now concerned that the mortgage valuation is going to come up short. How common is this?
I have tried looking at Zoopla and they are currently estimating the value to be just under £241,000; however I am not convinced this is very reliable. A house about 10 doors down was sold in March this year for £208,000 however this was in a poor condition from the photos on zoopla and the house we have offered has been modernised and had walls taken out etc. It was also mid terrace and the one we have offered on is end of terrace (albeit only by about 5 inches!). Our one also has had a porch added. Prior to that the last sale of a similar house was in 2011 and that was for £230,000.
Thanks in advance for any advice.
RA
We have had an offer of £245,500 accepted on a house which was on the market for £245,000. Another couple were also bidding hence why we went just over asking price.
I am now concerned that the mortgage valuation is going to come up short. How common is this?
I have tried looking at Zoopla and they are currently estimating the value to be just under £241,000; however I am not convinced this is very reliable. A house about 10 doors down was sold in March this year for £208,000 however this was in a poor condition from the photos on zoopla and the house we have offered has been modernised and had walls taken out etc. It was also mid terrace and the one we have offered on is end of terrace (albeit only by about 5 inches!). Our one also has had a porch added. Prior to that the last sale of a similar house was in 2011 and that was for £230,000.
Thanks in advance for any advice.
RA
0
Comments
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Thanks- I have just seen that reply.
I worried I had put it in the wrong forum- hence the double post.0
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