Receiving a down valuation can put a property purchase at serious risk.
This client had already agreed on a purchase price, but during the mortgage process, the lender valued the property lower than expected. This created a shortfall and put the entire transaction in jeopardy.
Rather than accepting the situation, we explored alternative options.
We reviewed the property, the valuation, and the lender’s approach, and identified another lender whose valuation method was more aligned with the property’s true market value.
By acting quickly, we were able to secure a new mortgage offer based on a more accurate valuation, allowing the purchase to proceed.
The client was able to complete on their home, avoiding the collapse of the deal.