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Valuation Information

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  • Valuation Information

    Hi there
    We recently made a conditional offer to a house subjected to independent valuation and finance. We got valuation plus a building report done and decided not to proceed with our offer any further on the finance clause. They accepted our decision and refunded the deposit. Now the seller asked if they can have both reports for them to market the house again. Is it safe to give the reports to them - Just in case they sue my pant off for not buying the house (and the valuer or building inspector). And is that reasonable to ask them for some contribution, after all both reports set us back nearly $1200. thanking you in advance.

  • #2
    Great question.
    There are 2 points.
    1. If they want the reports then charge them for them absolutely. Get as much as you can.
    2. HOWEVER they MAY be looking to enforce their contract so you would have to make a judgment call on that. If the reports would indicate you should or could have gone ahead then giving your enemy ammunition is not a good idea??
    If it were me I wouldn't take the risk but you need to decide what you think their motives are??


    • #3

      Dean has summed it up well, the most important aspect being #2.

      You have more to lose than gain with this, so I would keep the reports in my pocket. Better to lose $1,200 than to be forced to settle on a house you don't want!

      All the best,
      Premium Villa Holidays in Turkey


      • #4
        Great advice from Dean: Tread very carefully!


        • #5
          I know a case when a RV came 60k more then price agreed and the buyer still decided that he is not happy and pulled out.

          As a buyer General (Short Is you really want the prperty) DD Is best. IMHO
          New Zealand's #1 Marketplace for Property Investors & Sellers!
          FREE Access to HOT Property Deals


          • #6
            Thanks for the great feebacks. Yes I'd rather be safe than sorry. Seller seems to be nice but one can never tell. thanks gain


            • #7
              More than likely, you're not going to hand the valuation over without getting the vendor to pay for it, so why don't they just go and get one themselves??? The valuation you have will have your name etc on it, which isn't going to be of much use to the vendor anyway.

              Sounds a bit fishy to me. Agree with Dean, be careful.
              Patience is a virtue.