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Homebuyer survey
rachelc93
Posts: 5 Forumite
I am a FTB and had agreed a price of 185000 on a flat. The mortgage valuation agreed with this. I have now had the homebuyer survey back (mainly 2s and a couple of 3s about the structure of the block) which has valued the flat at 175000. I am not really sure how to proceed with this, I assume it’s probably worth trying to renegotiate the price but also presume my case is not strong due to the mortgage survey agreeing with the sales price. I am really new to this so any advice would be appreciated! The flat was pretty much one of the only ones that has come up for anywhere near that price with two decent sized bedrooms so I’d rather not have to start looking again.
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Comments
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You have to allow + or - 10% on any valuation.It's not an exact science. There is no definitive market value (other than what you actually pay).0
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The structure of the block isn't your responsibility, it's the freeholders. That said it's good to know what work may be required in the future as you will be paying for it (via the service charge). Depending on what exactly it says I'd be asking questions about the maintenance and find out if there's a sinking fund. You probably don't want to move in and find yourself landed with a sudden bill for thousands of pounds to put the structural problems right!
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