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New build flat valued at £20k less than agreed price
ghekkomanic
Posts: 62 Forumite
After avoiding a flat buying nightmare last year (thanks again to everyone here who offered their advice) I'm finally ready to wade in again after being offered a 25% share of a one bedroom new build flat in London.
Thing is, I got the valuation back yesterday and it's been valued at £20k less than the total value.
My GF is doing the conveyancing so am waiting to get her advice on this, and also my mortgage company hasn't returned my call yet to even let me know if they'll lend me the money based on this valuation. I suspect if I talk to the agents they'll simply say they have plenty of other people interested, so take it or leave it.
Should I cut my losses (valuation fee, and maybe £250 deposit if the agents have cashed the cheque yet) or insist the agent drop the price?
Any advice greatly appreciated : )
Thing is, I got the valuation back yesterday and it's been valued at £20k less than the total value.
My GF is doing the conveyancing so am waiting to get her advice on this, and also my mortgage company hasn't returned my call yet to even let me know if they'll lend me the money based on this valuation. I suspect if I talk to the agents they'll simply say they have plenty of other people interested, so take it or leave it.
Should I cut my losses (valuation fee, and maybe £250 deposit if the agents have cashed the cheque yet) or insist the agent drop the price?
Any advice greatly appreciated : )
0
Comments
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You should take the valuation to the EA & give them a copy in black & white. Nobody in their right mind is going to pay over valuation. Looks like you could save a shed load of money here.
:beer:0
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