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Morgage Valuation help
Comments
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Then you have 3 options:Dave_Derby wrote: »They have told me they will not drop it that much.
Was not Eserv and was carried out in the last few weeks
A) Use a lender that uses the same valuer as this previous sale
Make up the shortfall via other means
C) Walk away
Out of curiosity, was it the developer that told you the other plot was valued higher recently? It's not like they don't have an incentive to lie to you...
From what I have read here in previous similar posts - the only time mortgage valuation is lower than the reservation price on new build is when the new build is massively overpriced.0 -
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The developer told me and I have seen the report confirming this.Then you have 3 options:
A) Use a lender that uses the same valuer as this previous sale Make up the shortfall via other means
C) Walk away
Out of curiosity, was it the developer that told you the other plot was valued higher recently? It's not like they don't have an incentive to lie to you...
From what I have read here in previous similar posts - the only time mortgage valuation is lower than the reservation price on new build is when the new build is massively overpriced.0 -
Dave_Derby wrote: »The developer told me and I have seen the report confirming this.
What report have you seen, who showed it to you?
If a lender gets a valuation report, they don't normally give a copy to the buyer.
And even if the buyer got a copy of the valuation report, the buyer wouldn't normally give a copy to the developer.0 -
Then you have 3 options:
A) Use a lender that uses the same valuer as this previous sale Make up the shortfall via other means
C) Walk away
Out of curiosity, was it the developer that told you the other plot was valued higher recently? It's not like they don't have an incentive to lie to you...
From what I have read here in previous similar posts - the only time mortgage valuation is lower than the reservation price on new build is when the new build is massively overpriced.
Frequent occurrence then?0 -
Ask the developer to pay your fee to apply elsewhere. Find out who the other lender was?0
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