Vida Homeloans return to market?

Bloxwich28

Need very urgent help. Valuation was done and the property was down valued by £6 000. We told this to seller and she said no, she will not accept anything less than the price we offered.  Our mortgage broker has said he will not advice us to negotiate any other price than the new valuation figure. The broker is saying VIDA will not allow us to pay anything more than the valued price. We really liked the house but the seller won't budge.  If we let it go it means we have to start afresh looking for a house, new underwriting, etc. It has taken us three months to get to this point. Is there anything that we can do on this situation. Really gutted 

SarahMayhtb

Bloxwich28 said:

Need very urgent help. Valuation was done and the property was down valued by £6 000. We told this to seller and she said no, she will not accept anything less than the price we offered.  Our mortgage broker has said he will not advice us to negotiate any other price than the new valuation figure. The broker is saying VIDA will not allow us to pay anything more than the valued price. We really liked the house but the seller won't budge.  If we let it go it means we have to start afresh looking for a house, new underwriting, etc. It has taken us three months to get to this point. Is there anything that we can do on this situation. Really gutted 

Have you tried to explain to the seller that it’s highly likely other valuation companies will value it the same and she’s going to continue to have this problem and waste money remarketing it? I don’t have anything else sensible to suggest sorry 🙈 what had you MB said? 

Amy32

So we finally heard back from VIDA today ... with more bloody questions! I honestly can’t understand what else they could possibly need. If we don’t get an offer soon I don’t doubt our developer will pull the plug on the purchase. 

SarahMayhtb

Amy32 said:

So we finally heard back from VIDA today ... with more bloody questions! I honestly can’t understand what else they could possibly need. If we don’t get an offer soon I don’t doubt our developer will pull the plug on the purchase. 

Oh that’s not good, I hope you don’t lose it 😔what kind of questions have they asked? 

Amy32

SarahMayhtb said:

Amy32 said:

So we finally heard back from VIDA today ... with more bloody questions! I honestly can’t understand what else they could possibly need. If we don’t get an offer soon I don’t doubt our developer will pull the plug on the purchase. 

Oh that’s not good, I hope you don’t lose it 😔what kind of questions have they asked? 

Confirmation that my partner has returned to work from furlough and an updated payslip. 

Additional info about my pay 
proof of my address from 2 years ago 
more bank statements 

SarahMayhtb

Amy32 said:

Confirmation that my partner has returned to work from furlough and an updated payslip. 

Additional info about my pay 
proof of my address from 2 years ago 
more bank statements 

Oh they like the proof of address one don’t they. I remember the other forum members that had trouble with that one. I’ve already been hunting out old paperwork just in case! Hopefully they get it all assessed quickly for you! I’m glad you’re being looked at though 😊

Amy32

SarahMayhtb said:

Amy32 said:

Confirmation that my partner has returned to work from furlough and an updated payslip. 

Additional info about my pay 
proof of my address from 2 years ago 
more bank statements 

Oh they like the proof of address one don’t they. I remember the other forum members that had trouble with that one. I’ve already been hunting out old paperwork just in case! Hopefully they get it all assessed quickly for you! I’m glad you’re being looked at though 😊

Thanks - I would just really like it wrapped up and a decision before Christmas so I can reassure the developer it is going through. But whether that’ll happen I don’t know 🤞🏻🤞🏻

SarahMayhtb

Amy32 said:

Thanks - I would just really like it wrapped up and a decision before Christmas so I can reassure the developer it is going through. But whether that’ll happen I don’t know 🤞🏻🤞🏻

Oh I know that feeling, I’m starting to accept that maybe we won’t get to know before Xmas. For now our developer is being ok but I don’t know how long until they’re going to get funny with us. We reserved back in September 😩

Amy32

SarahMayhtb said:

Amy32 said:

Thanks - I would just really like it wrapped up and a decision before Christmas so I can reassure the developer it is going through. But whether that’ll happen I don’t know 🤞🏻🤞🏻

Oh I know that feeling, I’m starting to accept that maybe we won’t get to know before Xmas. For now our developer is being ok but I don’t know how long until they’re going to get funny with us. We reserved back in September 😩

Is your house ready or mid build? We reserved first week of October but it is ready now, so sat there wasting money for them. 

SarahMayhtb

Amy32 said:

Oh I know that feeling, I’m starting to accept that maybe we won’t get to know before Xmas. For now our developer is being ok but I don’t know how long until they’re going to get funny with us. We reserved back in September 😩

Is your house ready or mid build? We reserved first week of October but it is ready now, so sat there wasting money for them. 

Ours build was due to be complete end of November, but luckily for us there have been delays and it won’t be complete until January now. How have your developers been about it?