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Nationwide Valuation question
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nmjams
Posts: 259 Forumite
Natonwide are carrying out a valuation on my purchase tomorrow. thing is, what i've offered is about 6k higher than a recent sale. Zoopla estimate on that house hasn't changed since last Sept when it sold. There are not many properties sold in the street. 2012 another sold for around 55k but needed loads of work.
Most other similar houses in the village have sold for around 6k less than my offer also.
Does anyone know if Nationwide send someone out to look at the house or do they look at a price index? or am i worrying about nothing.
Most other similar houses in the village have sold for around 6k less than my offer also.
Does anyone know if Nationwide send someone out to look at the house or do they look at a price index? or am i worrying about nothing.
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For my purchase with a NW mortgage not too long ago, I remember the vendor telling me that the valuer had made an appointment to drop in. This is in NE London, their policy might differ according to region, type of property?Does anyone know if Nationwide send someone out to look at the house or do they look at a price index? or am i worrying about nothing.0
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Valuation work is managed by Countrywide Surveyors, Nationwide's panel manager.
Either a Countrywide chartered surveyor will go out to inspect the property, or it will be "panelled" to another firm if Countrywide don't have coverage in the area.
Ignore Zoopla it's not reliable for your use.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Cheers, i'm really anxious about it0
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Ignore zoopla, you can change the price massively with just a few clicks, it's totally unreliable. The valuer will make a fair valuation and if it is below you can ask the vendor to drop their price or do the decent thing and go halves on the difference.
I'm sue it will all be fine though. We got 12k above asking and when it was valued we only had to drop the price 2k. We were relieved!0 -
Several estate agents told me zoopla is irrelevant outside the M25.0
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Good point, well made.Hedgehog99 wrote: »zoopla is irrelevantI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Also, don't forget - they want to make sure it's worth AT LEAST what you're borrowing from them. So that they can recover their mortgage if you default. So, the 6k probably doesn't matter.0
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Just a bit of an update...
Had an email earlier saying that the valuation report had been received then the MA rang to say they have issued a mortgage offer and i should have it in a day or 2.
No news on whether the valuation went okay or not though
It all seems to have happened really fast.0 -
If there was an issue with the valuation, it wouldn't have gone straight to offer.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Just a bit of an update...
Had an email earlier saying that the valuation report had been received then the MA rang to say they have issued a mortgage offer and i should have it in a day or 2.
No news on whether the valuation went okay or not though
It all seems to have happened really fast.
Congratulations....if you got an offer then valuation must have gone through fine
:jFinally going to be a homeowner:T0
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