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What i'm saying is we were happy with our offer. But we dont have hard cash to make up the difference.
rogan-
But we dont have hard cash to make up the difference.
Very few do even as 2nd time buyers. Negotiations happen after valuation its totally normal. Every £ counts obviously but you can give them ultimatum too if you are happy to walk away if it comes to that.
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But we dont have hard cash to make up the difference.
Dunno. I would look quite sceptically on anyone who can buy £x hundreds / thousands of house but can't find £30k. ISAs? Raid pensions? Sell some shit? Try another lender?
The truth is you could probably find the money (it's not £100k were are talking here) but it would be agonising, right?
So. FWIW I don't disagree that you have to renegotiate here, if it's too painful to get the money it's too painful. Just the way you go about it. I would lean towards 'well the bank said this but that's their opinion, I've tried to make up the shortfall as much as I could and can pay £x'. That way you get the house.
I was fully expecting our valuation to come in under our offer and I would have ignored it (unless it was £100k off, but then I would have walked, and checked myself, and started again). But they reckoned it was worth what we offered. That came in last week.
amey
Howard
Well then why the fuck did you offer what you did?
#savage
I'm being mean but I find all this re-negotiating based on what other people think (or previously, what other people think is going to happen in the market) a bit odd - you are the grown up here, you know what the place is worth to you. I think you should buy it at or as close to your offer (subject to survey blah blah) or buy somewhere else.