Homebuyers valuation

dexterwolf

Had a homebuyers report done and valuation is 25k below what we offered. So do we go back to agent and say the valuation was 25k less so will the seller accept this . Or just leave it as it is ?

MovingForwards

Revert back to the EA if you still want to buy the property. 
Is there anything in the report about the condition of the property needing urgent attention or faults?

hazyjo

Do you have the cash to pay the difference (presume you're getting a mortgage?)? You have 3 choices if so.

Pay it
Pull out
Renegotiate

Or a combination of 1 and 3.

dimbo61

That depends on you !
How desperate are you too have this property ?
How unique is this property ?
What were the local sales of properties like the one your trying to buy ?
How much is £25,000 in the big scheme of things !
Property up for £675,000 and surveyor thinks it's only worth £650,000 is one thing but
Property up for £125,000 and survey comes back with £100,000 as last 3 sales on the same street were £101K, £98K and £97K then seller having a laugh.
It also depends on how big a deposit you have ???
Can you and Do you want to pay over the valuation because you really want this dream property ?

Thrugelmir

Did your lender perform a separate valuation? 

dexterwolf

There is some minor things like asbestos potentially in the house due to age , chimney stack , possible area of damp but nothing major . 

There is no houses to compare it to as they are 3 bed semis and this is the only 4 bed detached on that road and surrounding 2 roads . 

dexterwolf

Still waiting on mortgage to be approved from underwriter . Have it in principle but just waiting on that .

Thrugelmir

dexterwolf said:

There is no houses to compare it to as they are 3 bed semis and this is the only 4 bed detached on that road and surrounding 2 roads . 

Comparisons will be made on a much wider area.