I bought a flat in 2010 for £70k, I made a very low offer to a desperate seller as it was on the market for £95k.
At the time it was in very basic condition and needed new everything (b.room, kitchen etc)
It was valued by Natwest at £70k for mortgage purposes, they couldn't tell me if it was worth more as they only value to mortgage amount. Valuation clearly stated - needs repairs, refurbishment etc.
I didn't move in for nearly a year as I had the whole place gutted, extended the kitchen, new kitchen, new bathroom, carpets, blinds, curtains, tiled, spot lights, new heating system.
Everything top notch to live in and enjoy, as its a seafront maisonette, with beautiful views, it was worth spending on & I planned to stay for a good few years.
Until along comes a man & now I live with him!
Anyway, put the flat up for sale, values by estate agents at £105/£110k. Put it up for £105k, had an offer a few months later £100k, which I accepted.
Buyer had a mortgage set up, valuation was done in Jan confirming £100k. Report said flat 'was finished to a high standard'
This mortage later fell through, not sure 100% on reasons, but it wasn't because of flat.
New mortgage set up, but valuation is saying £75k, and needs repairs?
Buyer was asked to submit properties sold in area, so he did, a basement flat at £95k (no views) a similar flat with 1 less reception room £105k and a 2bed for £135k.
Also the Jan valuation & my previous valuation was sent. But they now say this confirms the £75k valuation is correct?!
Can anyone help, can we ask for an independant valuation to be made?
At the time it was in very basic condition and needed new everything (b.room, kitchen etc)
It was valued by Natwest at £70k for mortgage purposes, they couldn't tell me if it was worth more as they only value to mortgage amount. Valuation clearly stated - needs repairs, refurbishment etc.
I didn't move in for nearly a year as I had the whole place gutted, extended the kitchen, new kitchen, new bathroom, carpets, blinds, curtains, tiled, spot lights, new heating system.
Everything top notch to live in and enjoy, as its a seafront maisonette, with beautiful views, it was worth spending on & I planned to stay for a good few years.
Until along comes a man & now I live with him!
Anyway, put the flat up for sale, values by estate agents at £105/£110k. Put it up for £105k, had an offer a few months later £100k, which I accepted.
Buyer had a mortgage set up, valuation was done in Jan confirming £100k. Report said flat 'was finished to a high standard'
This mortage later fell through, not sure 100% on reasons, but it wasn't because of flat.
New mortgage set up, but valuation is saying £75k, and needs repairs?
Buyer was asked to submit properties sold in area, so he did, a basement flat at £95k (no views) a similar flat with 1 less reception room £105k and a 2bed for £135k.
Also the Jan valuation & my previous valuation was sent. But they now say this confirms the £75k valuation is correct?!
Can anyone help, can we ask for an independant valuation to be made?