| Comment | Anyone I know that has bought a house under this system puts in an offer, has the valuation by the bank done and if the bank don't deem it worth what you've offered (which happens a lot less than you think) they don't go through with the sale. The bank is generally always going to value the house at what you've offered for it so long as there isn't a massive amount of work that needs done to the property, and if the work that needs done is feasible they will give you the mortgage under the condition that it is rectified within a certain time frame, which is also the case in Scotland. |
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