Quote Originally Posted by Justloadit View Post
You can not solve all problems with legislation. In fact I already think there is too much legislation.

Simply, if you feel the property is too high in value, then either make an offer you think is right, or move on.You will be surprised how often they accept your offer. It's about negotiating the right price.
I disagree; Fact is you don’t know what quality of brick was used, how long it will last and then there is a question about your electrics and plumbing alongside the structure and condition of the roof. All of these things will cost a lot of money to repair.

With legislation they can enforce quality control and alongside it an evaluation system. If the home is in good condition you get your money's worth if not you can fix it or sell for less. I don’t think this is unreasonable.

Unreasonable is not being able to afford or lose it by defaulting on the loan because of over evaluation and hidden costs.