Full Structual Report over £160K less than agreed offer

[frenchie82]

We have found a house we like and made an offer of £545k which was accepted (It was up for 700K early last year). We instructed a full structural report and came back with a Market value of £391,000. How can it be so different?

The structural building survey states the property is in fair condition. The property is over 100 years old. No major structural repairs required.

No idea... who valued it at 700k in the first place... is there no real comparable sales within 0.5 miles in the last 6 months

Is that from the mortgage company or the surveyor?

Are you sure that's the value and not the rebuild cost? That seems very odd if it's jot. I'd speak to the surveyor.

The property is an Old Mill and Rural so no property to compare it to Alexalee. On the land registry search it was valued at £1m 10 years ago but I don't know where that figure came from.

I had a private surveyor complete the full structural survey babysharkah.

The rebuild cost was £388k and the Market Value was £391k Bluntness100

I think I'd speak to them and ask what is behind that value. Seems odd to be honest. Maybe it's a typo.

The rebuild cost was £388k and the Market Value was £391k

That means they've valued the land at £3k - doesn't sound right at all. Phone!

thank you for your advice I will give them a call