Is it cheeky to ask to renegotiate after valuation?

lm1981

We had a full building survey done and paid for a valuation at same time - this came back 30k under asking price , bank has now valued it and said same thing ....so 2 independent valuations both saying we are over paying.

I am prepared to walk away if need be obviously however don’t really know how to approach sellers ...is this a normal kind of thing to happen?

mortgagetakingages

Tell them and offer lower. Nothing cheeky. A house is only worth what someone is willing to pay for it. 

RapidMoney1

I don’t think it’s cheeky, if you have this issue then other buyers would surely have it as well? Unless you paid over asking, I would expect the seller to take at least some of the hit on a reduced valuation?

dunstonh

We had a full building survey done and paid for a valuation at same time - this came back 30k under asking price , bank has now valued it and said same thing ....so 2 independent valuations both saying we are over paying.

And that is exactly when you should be looking to renegotiate.    Nothing wrong with it at all.

We knocked £25,000 off the one we bought after survey and got some work carried out an paid for by the vendor too.

...is this a normal kind of thing to happen?

Very normal.  Just remember that the estate agent works for vendor.  Do not give anything away to them unless you are playing them as well.    Think of it as a poker game.

prowla

If you've got £30k going spare could you please give it to me?

No? So why give it to another person then?

Any offer is implicitly subject to expert opinion, including valuation, surveys, etc.