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Change bid on offer on house who's value is valued to be less than adv

Can i change my offer on a home after it is valued to be less than my offer? Eg. House advertised for £225 000, my offer is £205 000 but surveyor values it at £180 000? Even if the mortgage is under way?

Asked on May 10 2016, Home Finance in Leicester | Report content

Answers (1)

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  • You can, but then the vendor may not accept. The surveyor's valuation is 20% less than asking price, your present offer is 9% below the vendors price, 13% above survey valuation, halfway would be £200,000. On the face of it the surveyor is being cautious, the vendor very optimistic. Has the mortgage been approved? LTV ?

    Answered on May 11 2016, Report content

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