Got my lender valuations back and it is 10% less than my offer. Frankly I am dumbfounded, as my offer was asking price, and I actually think the house is worth more than asking given market comps.
I assume trying to persuade my lender (HSBC) that their valuation is miles off is not going to work, so what are my options? Anyone have experience of lenders who take a different view of valuations?
I successfully appealed a beneath asking valuation, last year - they did a desktop and based it on floorspace only, but we asked for an in person valuation and they bumped it up to what we’d agreed. Worth checking process is, I’d say
Got my lender valuations back and it is 10% less than my offer. Frankly I am dumbfounded, as my offer was asking price, and I actually think the house is worth more than asking given market comps.
I assume trying to persuade my lender (HSBC) that their valuation is miles off is not going to work, so what are my options? Anyone have experience of lenders who take a different view of valuations?