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It all comes down to whether the £10k or whatever you might save is worth being a bit of a dick over.
Ultimately if after the mortgage valuation the property is still purchasable and if the survey report doesn’t highlight anything that’s not “priced in” at the point you made an offer then the ‘moral’ dictates your offer is your offer and you had the information you needed to make a good one - it’s not the sellers fault that the mortgage co thinks you are overpaying.
You could fib and whatnot to not come across as a dick but then you’d have to live with that.
Howard
Diamond_Supercool
I'm buying a little three-bed house in Hither Green. Our offer, at 1% short of the asking price, was accepted a few weeks ago.
The mortgage valuation (arrived at without actually visiting the property) came in last week at 5% under asking price. We're having a survey done on Wednesday. If our surveyor's valuation also comes in at about 5% under asking price, how much of a dick move would it be for me to start renegotiating with the seller about the purchase price? Given that we've already agreed a price, do I have any moral right to start renegotiating simply on the basis of two lower valuations?
The sellers had the house on the market for a year before we came along and they have had their own offer accepted on an onward purchase. We're chain-free. All of which means that we've kind of got them over a barrel. But I like to think that I'm not a total prick.