Home report value has come down, would you reduce your offer?

[flatbread]

This is in Scotland. I had made an offer on a place, which had been rejected, and another offer accepted. Anyway, the other offer fell through and I made an offer equivalent to the one that had fallen through, and it was obviously accepted.

Well, since the home report was Noe outdated a new one was done and it values the house at £15k less.

Soooo, should I reduce my offer by £15k? The offer that was accepted is less than the current home valuation, but that is not really the point, is it?

What % of the valuation is the 15k ?

Can you afford it, are you staying forever, do you love love it? Or are there other properties around? Do you have to move or not?

Depending on these factors you can pay it, go half way or walk away.

Not much help but I think there is more than money to consider when buying a home.

Just re read your post. How much below have you offered?

I've just answered your other thread.

Yes. It doesn't hurt to try. Even get your solicitor to phone their solicitor to verbally offer. I work in conveyancing and this is becoming common due to houses being on market a lot longer then no longer "surveying" up. Lots of banks wont give mortgage for more than valuation anyway. Plus if it has had a more recent valuation for less, and they refuse your offer, any offer from someone else is going to be in line with the updated valuation.