Any Santander Offers?

davidmcn

worriednoob wrote: »

I understand, but from surely from a buyer's point-of-view, would you purchase a property for it's full valuation, yet know that there could be all sorts of problems lurking ahead that could cost you a lot of money?

What if the works end up costing less than your estimate - are you going to give the change to the seller?

worriednoob

ACG wrote: »

I bought my house and it ccame back saying it needed work doing to it. I knew it needed work doing, thats why I bought it as it was an absolute bargain.

The valuation came back as the purchase price with a note saying electrics would need looking at (which was no surprise as there was one plug socket with black sut around it that was the only one working in the whole house.

If someone says it is valued at x but work needs doing - they have still valued it at x. Once the work is completed the value would presumably go up.

If you came back and wanted to renegotiate with me, I would ask to see the valuation. If it said it had been valued at the agreed price it would be a straight no. But everyone is different, there would be no harm in trying I suppose.

Thanks ACG. I guess we'll have to cross that bridge when we come to it.

davidmcn wrote: »

What if the works end up costing less than your estimate - are you going to give the change to the seller?

If giving change was part of the negotiation, then yes.