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?
Speak to the agent first. There's a good chance they'll have a good relationship with the surveyor and will be able to change their val with a list of comps etc. I used to see this quite a bit and it was very rare the surveyor wouldn't budge.
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?