STBXH put an offer in on a shared ownership house at the end of May. It was on for £100k for 50% share. He originally offered £94k which was rejected, then rashly increased to £100k when the EA told him there was someone else interested. Offer was accepted.
For various reasons things have dragged on. The housing association have only just accepted his application and everything seemed to be going ok at last. However....the mortgage valuation has come back this week to say the house is only worth £176k in total. STBXH has therefore had to reduce his offer to £90k otherwise he'll have to pull out.
The vendors are buying a new build and have allegedly been under some pressure from the developers over the last couple of months to get contracts signed or they will lose their plot.
Obviously there's no way of knowing what their decision will be until they make it, but what would you do in their situation? Say no and re-market it? Accept the reduced offer in order to not lose the new house? It's a shit situation all round.