Re: Re: So just how much will the banks give way?

#101700
Anonymous
Participant

I’ll try but I’m not sure if I’ve got it right. If the seller is a friendly bank, a fresh valuation (by a qualified valuer) is put to them and they reduce the price accordingly, at branch level, and the buyer pays the agent for the reduction.

If it’s a private seller, who is prepared to drop the value substantially, known to the agent but not the buyer, the buyer is persuaded that a cash payment has led to him paying a lower price.

I may have the mechanism wrong.