Q: Looking to buy a property for which an offer is accepted £ 190K. But the Mortgage homebuyers survey and valuation have returned a value of £ 175k Should I worry about £ 15k difference or is this the norm? : Confused:
A:yEAH VENDOR IS AWARE! We'll see! Thanks
A:Have you informed the vendor of the valuation? If they won't budge, you have to walk away, nothing else you can do!
A:Does sound a big difference – is it because of things picked up on the survey in which case can you negotiate a lower offer. Or is it because comparable properties are £15k cheaper in which case presumably you're paying over the odds.
A:Found out that this is particlarly large unusal difference. Bank will now only lend us about £10000 less than we expected because of it. Should I oull out?
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