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House up for £209,000. Offer accepted £200,000. House valued at £190,000

I am buying my first house. It was up for £209,000 and I had £200,000 accepted, but now I've had a survey done - he valued the house at £190,000. Do you think I should go ahead and pay 10 grand more then it's worth or just drop out and loose the house?

Asked on Feb 10 2013, House Prices in Stevenage | Report content

Answers (4)

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  • Does the lender begin with an H? If so, it is becoming fairly regular, so I'd try a more realistic lender!

    Answered on Feb 13 2013, Report content
  • Some lenders under value property, they are playing it safe. Are you buying the property as a home, or just to turn over and make money?

    Answered on Feb 13 2013, Report content
  • I'm buying it as a home. It's been modernised to an average standard, and it has very good potential to be extended, which is why I don't want to give this house up for the sake of 10 grand. I'm pretty sure I can get this money back in the long run?

    Answered on Feb 13 2013, Report content
  • I'd use it as leverage to push down the asking price. Yes you had a gentleman's agreement with your accepted offer but I think it's reasonable to cite the subject to valuation caveat.

    Answered on Mar 28 2013, Report content

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