house downvalues by 10K - can i apepal?

csgohan4

MortgageMamma wrote: »

I think you must be a little more insistent with L&C, you are paying them indirectly after all - they should be telling you how to get comparables and appealing it for you. Its what a good broker does - but with L&C being a fee free model I doubt you'll get that level of service. I appreciate not everyone sees the value in paying for advice but this is just one example of what a broker fee would pay for - sorting out the mess when things aren't working out. I know people are saying challenge the valuation but if that doesn't work how about asking the vendor to meet you half way on the down valuation? If you do choose to use another lender be careful they don't use the same firm of surveyors or you could land in the same boat.

This is L+C your talking about, they only care about volumes

yessuz

well, got three other comparables from my agent.

all of them, which already recently sold, all of them - 190-207.

so this now is submitted for the re-valuation/appeal.

LandC told me to wait till Friday.

mandygrace

In my experience appeals rarely work, if it fails you could try another lender that doesn't use the same panel surveyors as Santander. Your broker will be able to get a copy of the valuation from the lender to show to the estate agents so to say you can't get a copy until the offer is accepted is nonsense

Retrievermomma31

We had this problem, my house was downvalued by £10k.
It depends which bank it's with.
With YBS they wouldn't let us appeal or do another valuation, so in the end we managed to get the price down by £5k and then paid the extra £5 straight to the seller