We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Down Valuation Help
B9900
Posts: 1 Newbie
Hi,
I need some advica and
I put in an offer for a property for £345,000 (Mortgage - £257,000, Deposit £88000) but Halifax have comeback saying the property has been valued at 325,000. I am under the assumption they did a desktop valuation as my broker said I could appeal for a physical one and I didn't receive a report. I am waiting to hear back from the seller if they would negotiate down however they bought the property 6 years ago for £320,000 so I don't believe they would. All the other properties sold in the same development have had £15,00 - £25,000 added to their sale price over since their original sale price 5 years ago.
Additional questions I had
I need some advica and
I put in an offer for a property for £345,000 (Mortgage - £257,000, Deposit £88000) but Halifax have comeback saying the property has been valued at 325,000. I am under the assumption they did a desktop valuation as my broker said I could appeal for a physical one and I didn't receive a report. I am waiting to hear back from the seller if they would negotiate down however they bought the property 6 years ago for £320,000 so I don't believe they would. All the other properties sold in the same development have had £15,00 - £25,000 added to their sale price over since their original sale price 5 years ago.
Additional questions I had
- Whose responsibility is it to find similar properties for the appeal?
- The flat is on a new build estate however nothing equivalent has sold recently, the flat is slightly larger and has a balcony unlike anything sold in the last year. I have had a look but not sure how far I should look or how to find similar e.g. properties with balconies.
- I included the cost of fitting (and some furniture in the offer price). The seller has new fitted wardrobes, fitted shutter and is leaving some bedroom furniture and dining table/chairs. With the
- I paid £200 for the valuation fees, is it common that they charge you for desktop valuations.
0
Comments
-
The seller will break about even, that should be a good result for them IMO.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards