max0603

Just had the bank do a valuation on our new build and its come in 10,000 euro's below the asking price. The builder who originally wouldn't budge on the price has agreed to lower it to the bank's valuation. After talking to the agent its the 3rd bank thats recently come in under price on the development, although apparently they were valuing them at full asking price 3 months ago.

I wonder if the market is leveling off?

Not being doom or gloomy about though as we have bought a home for our future and not an investment!

bejaboz

I think that banks are being more conservative with the present situation globally, but it's no indication as to the future really, however, it's a better deal for you.

Valuations are of course, just someones opinion, but I guess if the property is on a development with similar builds, it is easier to make a judgement, as well as being able to see how the sales on the development are generally.

Good luck in your new home.

gazz

your right banks in general globally are tightening things in, re: property valuations, mortgage acceptance and general property risk managements, heard this morning that the uk is possibly next in line for resession? is it gloomy times ahead for all i wonder?