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Good luck fam.
thanks and thanks to others for comments also. Learning lots here about buying a home in the UK!
As far as I am aware, they did go into property and value it - appointment was made for access.
On the same day, I've had a full independent survey done and so whilst that was not a valuation, I'll ask him what his professional opinion is. Arm myself with some facts.Like the option break-down.
1 viable
3 would take some hella negotiation (40k!), and from what mustardbeak said about Halifax - difficult. I spoke to Foxtons and they were angling for this.
4 I think I am stuck with Halifax. And even if I got a different figure on the place, it would be a small movement.2 - yep that's probably best.
mands-
Foxtons will tell you to get more money from Halifax, because as far as they're concerned there's nothing wrong with the way they've valued the property - remember: they're not working for you.
As an alternative, they'll suggest that you use their mortgage broker who will miraculously be able to find you the extra 40 large.
handtightenonly
Not true. Valuations are done by surveyors. They will not value a house in need of total renovation the same as one in minty-fresh condition.
As far as I know there are no lenders that do drive-by valuations any more. Even when they did they at least looked at the agent's photos to get an idea of condition.
Likely to, but not definitely. Some surveyors are more aggressive than others, some can be convinced to change their mind if you or the agent can show them they've made a mistake.
Your options are :
If 2 (and 2 is probably best) you'll need to know what figure you can actually make it work at, so talk to your mortgage advisor. They may say you can still buy it at a figure over the valuer's valuation by putting a bigger deposit down.
Your main argument is that anyone else will *probably* get the same down valuation so the owner's only hope is a cash buyer and do they really want to risk it or would they rather have a bit less from you now.
Good luck fam.