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House under valued by mortgage lender

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  • bmthmark
    bmthmark Posts: 297 Forumite
    Ninth Anniversary 100 Posts Combo Breaker
    I've been in a very similar situation a few years back.
    I was selling my flat, I got it valued by a couple of estate agents and it was valued at £170k

    I got a buyer willing to pay asking price £170k. The buyers mortgage valuation came through at £150k!

    It was a pain but I knew it was worth £170k so I told the buyer that they should try a new mortgage place as it was worth £170k and I wasn't prepared to drop the price.

    New mortgage valuation came through at £170k :) and property sold for £170k

    So my advice is, if you really want the place get another valuation done using a different lender. You never know you may just of been unlucky to get an awkward valuer.

    Good luck - let us know what you do
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