Folks,
the property i had an offer accepted had the survey done yesterday and bank has undervalued it or maybe i offered more.
But my offer looked perfectly reasonable considering previous sold prices in same street.
Unfortunately, there is difference of 12k in my accepted offer and bank's valuation.
Now i think, the vendor wont probably decrease that much and i think i shouldnt pay more than what bank has valued the property at.
As it will increase my mortgage interest.
Please advise what should i do as i am FTB so no experience at all in this scenario.
Will the valuation remain same with some other lender.
I am in a bit of panicky mode as i think i will lose out on this property and i have spent money on survey, solicitors, brokers etc
thanks
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Property/DIY
Lender Survey came with undervaluation, what to do
31 replies
Sunny777 · 23/02/2016 16:34
OP posts:
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