In plain English
A valuation is an assessment of how much a property is worth. In this case, that assessment is lower than the price that has already been agreed for the property.
In context
Here, "down valuation" reports that the property's valuation result is below the agreed purchase figure.
- Situation
- Following home-purchase, mortgage, valuation, survey, and closing administration
- What it communicates
- reports a valuation result below the expected or agreed figure.
Meaning limits
The term alone does not state why the valuation is lower or what outcome follows from it.
Examples
“The flat's valuation came back as a down valuation at £240,000, below the £255,000 already agreed.”
“They received a down valuation on the cottage, with the agreed purchase figure still above the amount assessed.”