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It could become an issue if the mortgage lender doesn't support the valuation. If you think the offer is toppy, you might be better going with your next best offer, assuming the LTV is much more favourable.
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nah, no reason really. I think I sold mine with 5% - which was dropped from 10% on the day of exchange (not nastily, just solicitor asking if I'd be ok with it)
Once contracts are exchanged then it doesn't make much of a difference - they'd be on the hook for losses up the chain, and before contracts are exchanged it makes no difference at all. -
They might have more than 10% in cash but want to keep some back for improvements. If they can get a mortgage for 90% that is quite sensible borrowing.
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duncs
jellybaby
@kkg337
Any reason not to accept an offer from someone with 10% deposit? They have an AIP (which of course may as well be toilet paper) but as long as banks are giving 90% mortgages they aren't ostensibly any less proceedable than someone with a larger deposit right?
Aside from obviously potential access to capital should they suddenly decide the house wants money throwing at it but can't really account for people getting fickle either way.