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Long time ago now, but ours came back valued under what we offered. I put together a pack with recently sold comparable properties, their asking and selling prices, asking prices for comparable places currently on the market and I think what those would sell for if the asking/sold price ratio was the same. It helped that I’m in a little nest of streets with about 250 houses that are the same size and style. Came back revalued to what we offered. No idea if my stuff convinced the valuer or if they just thought “well if she’s desperate to overpay let her”.
The other approach is to reduce your offer because you are overpaying. We didn’t because the market was hot and our price was fair.
brokenbetty
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?