| Comment | It's not, very much a Scottish phenomenom. In England the valuation is done after the offer has been accepted, and unless you've gone completely bonkers is generally at the same price. That means you can mortgage the full value of the house, rather than only up to some arbitrary point decided by a surveyor.
The price a house has actually sold for will always be the strongest indication of its current market value - particularly if there were multiple bids - and I don't understand why this is ignored in Scotland. |
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