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From: Keith J
My bank has valued a property significantly below my offer price, which was accepted. I know there were other buyers at slightly below my offer.
To persuade the bank that the property really is worth what I paid for it, could I buy a 'put option' exercisable at the 2nd highest bidders offer. This would reassure the bank that they could sell the property at short notice to the seller of the 'put', should I default. The 2nd highest bidder would be a prime candidate for selling the 'put', as they DO value to property at 99% of what I paid for it.
Is this something the banks would accept ?
My bank has valued a property significantly below my offer price, which was accepted. I know there were other buyers at slightly below my offer.
To persuade the bank that the property really is worth what I paid for it, could I buy a 'put option' exercisable at the 2nd highest bidders offer. This would reassure the bank that they could sell the property at short notice to the seller of the 'put', should I default. The 2nd highest bidder would be a prime candidate for selling the 'put', as they DO value to property at 99% of what I paid for it.
Is this something the banks would accept ?
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