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Property Price Register

  • 21-02-2013 9:07pm
    #1
    Mur1983
    Registered Users, Registered Users 2 Posts: 29 ✭


    Hi we had offer accepted on a house last week. Now our mortgage company have come back saying that because our offer is 15k above what one of the houses made in the estate on the property price register that we have to show a reason why! Done some research and found out the seller who got it for 15k were lucky they were cash buyers as they had just won a law case and found a seller deperate to sell. The rest of houses in the estate have made way above what we are going to buy if for even up to 2012! Should we try explain this to mortgage company? Or go back to auctioneer to renegotiate? I do know our own seller has a mortgage so cant go much lower.
    Is this the way house sales are going to go the lowest price on property price register will become the market price.
    Seems fair in a way but also you can have sales that are between friends, family and in extreme cases! Which don't give true reflexion of price on open market.


Comments

  • #2
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Mur1983 wrote: »
    Hi we had offer accepted on a house last week. Now our mortgage company have come back saying that because our offer is 15k above what one of the houses made in the estate on the property price register that we have to show a reason why! Done some research and found out the seller who got it for 15k were lucky they were cash buyers as they had just won a law case and found a seller deperate to sell. The rest of houses in the estate have made way above what we are going to buy if for even up to 2012! Should we try explain this to mortgage company? Or go back to auctioneer to renegotiate? I do know our own seller has a mortgage so cant go much lower.
    Is this the way house sales are going to go the lowest price on property price register will become the market price.
    Seems fair in a way but also you can have sales that are between friends, family and in extreme cases! Which don't give true reflexion of price on open market.

    Did this arise as a result of the Valuation Report carried out by the Bank's Panel Valuer? Speak to the Valuer... If its a case that the Valuer has refused to sign off on the purchase price then tell the EA what's happened and see if the vendor is willing to reduce the price.


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