Asked by stanley
Dear all, greatly appreciate your answers .
I am an intended buyer of a five room flat and I have signed an OTP with the seller at a price of $600,000. Before the OTP was signed, I have clearly stated to the seller and the agent that I will only purchase the flat straightly based on valuation as I am not willing to pay for any COV. Seller agreed willingly.
Received my valuation today. The valuation comes out to be $560000. The seller agree to go with $560,000. My question is :
1) Am I require to do another valuation again since my new OTP is $560,000?
Pls note : Seller agree to sell on valuation of $560000 instead of the original $600000.
2) If lets say, I will need to do another valuation again based on new OTP of $560000, what if the new valuation comes out to be lower than my valuation of $560,000? Made not much sense to do a valuation again
Thanks for all your answers.
StanleyD
I am an intended buyer of a five room flat and I have signed an OTP with the seller at a price of $600,000. Before the OTP was signed, I have clearly stated to the seller and the agent that I will only purchase the flat straightly based on valuation as I am not willing to pay for any COV. Seller agreed willingly.
Received my valuation today. The valuation comes out to be $560000. The seller agree to go with $560,000. My question is :
1) Am I require to do another valuation again since my new OTP is $560,000?
Pls note : Seller agree to sell on valuation of $560000 instead of the original $600000.
2) If lets say, I will need to do another valuation again based on new OTP of $560000, what if the new valuation comes out to be lower than my valuation of $560,000? Made not much sense to do a valuation again
Thanks for all your answers.
StanleyD
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