Valuations

owainlfc

I had my mortgage issued by accord last week, during my application I took the free basic valuation which came back as the property being work 94k which is what I had agreed with the vendor.

As the house is old I paid for a seperate homebuyers survey but this has come back as them valuing the property at 80k! Does this give me the potential to go back to the vendors and try and negotiate a cheaper price? Nothing major really needs doing to the property and I know the surveys differ depending on who does it but obviously I don't want to be over paying for a property. Appreciate anyone's experiences or thoughts

Thrugelmir

You are free to revise your offer if you so wish. Did the homebuyers survey report highlight specific issues that need addressing?

owainlfc

The main issue seems to be some bulging and disorientation to the front and back wall with minor cracking but says it's not uncommon in houses of that age