From: "Rob Graham" 
Newsgroups: uk.finance
Subject: Re: House Buying - Asking Price v Valuation
Date: Mon, 25 Aug 2003 21:55:14 +0100


"Len"  wrote in message
news:3f4a6872$0$237$fa0fcedb@lovejoy.zen.co.uk...
> I want to buy a house but am worried about downvaluation as I only want to
> put down a minimum deposit. Is it normal to offer to buy on condition that
> if the house is downvalued my offer will be reduced to reflect that fact.
> And will the other side accept the new figure. If not do I have to find
> extra to put down?
>
> Len
>
>
It is normal for the value of a house to be the purchase price. However, if
the valuer has good reason to think you've paid over the odds he will
downvalue the house. But this is rare.

Rob Graham