bank valuation less than agreed price, advice urgently required!

Hi everyone,
she finally got an answer today. The vendor is not budging on price, so she has to cough up the shortfall or lose her deposit. Not exactly the situation she wanted to be in.

avontuur said:

Hi everyone,
she finally got an answer today. The vendor is not budging on price, so she has to cough up the shortfall or lose her deposit. Not exactly the situation she wanted to be in.

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She may be sued for completion as well but it's unlikely.

Neither the buyer nor the seller is winning in this situation though it might be hard for the buyer to see this. These are tough times.

Can she borrow the money from elsewhere? Anywhere. Can she afford the repayments, and well afford them? Would it be better to let the deposit go?

Hi Bronte, she's going putting her head down over the weekend to see if she can cover the shortfall.
On another note, when she started on the purchase of the property, she was given p.c. sums for tiling, fireplace and kitchen. She was asked by the vendor could she sort out her own tiling. So she paid for her own tiles and fireplace (including fitting). The kitchen is yet to be put in, she presumes she's supposed to cover the cost of this too! She was doing this to speed up the completion of sale!
Could this stand to her?