I am in contract with a Builder to buy a house which is almost completed.
However, recently he advertised locally and nationally some remaining houses in the Development at a reduced price to what I paid.
My problem is : My final Evaluation is to be completed this week and I'm afraid that the Valuer will value it at less than the original evaluation therefore rendering my Mortgage application for 295K Null.
If the mortgage company withdraw mortgage based on New Valuation , where to I stand in withdrawing my contract for the Property.
Any advise is appreciated, its such a stressful time.
However, recently he advertised locally and nationally some remaining houses in the Development at a reduced price to what I paid.
My problem is : My final Evaluation is to be completed this week and I'm afraid that the Valuer will value it at less than the original evaluation therefore rendering my Mortgage application for 295K Null.
If the mortgage company withdraw mortgage based on New Valuation , where to I stand in withdrawing my contract for the Property.
Any advise is appreciated, its such a stressful time.