Down Valuation - Opinions / Advice

Euripides19

Evening all,

House has been down valued and wondered what the MSE communities thoughts are:

House first went on the market about 6 months ago.

Sold first time within a week at asking price. Buyer had mortgage valuer who visited property and agreed house was worth asking price. Subsequently pulled out because they found out their house had subsidence.

House went back on the market. Accepted another offer within a week. 5k less than asking. They had full structural survey, who confirmed house worth asking price. Buyer subsequently pulled out after redundancy.

House back on the market for third time. Accepted asking price offer within a week. This buyers mortgage company have completed a desktop-only valuation. They’ve down valued house by £11k.

I partly understand the process of desktop valuations. But I cannot, for the life of me, understand why, on the previous two mortgage applications, where an in-person valuation was completed, house came back at asking but on desktop it’s worth 11k less? 

I think I know the options from here. What would you do in this position? I’ve agreed to meet buyer just over half-way as, despite setbacks, our seller is still holding on to us as buyers and we’re very keen to not lose the house. Just curious as to how/why this would happen and what others would do in this position.

Thanks all

Euripides19

Bump. Any thoughts appreciated