Advice needed on conflicting valuation reports

clavelle_2

I recently applied for a mortgage and decided on a valuation only survey. Before it was carried out I changed my mind and went for the Homebuyers. The mortgage company cancelled the first and setup the second valuation as the first company was unable to carry out a homebuyers. Unfortuantely for the mortgage company but fortunately for me the first company went ahead and completed the valuation. The mortgage company didn't charge me for this but did send me a copy of the report.

The report listed the below issues under the Essential category 9.2.
1. High damp meter readings noted, a damp specialist and timber specialist to investigate and estimate cost of repairs.
2. The electrics are in need of upgrading and re-equiping
3. Flat felt roof in need of repair and this roof type could fail at anytime
4. Kitchen & bathroom fittings need overhaul
5. external joinery needs overhaul


Under general observations it noted: property is in poor overall condition.


The second valuation report (minus homebuyers report which is still to come)
reported the following

9.2
Ensure planning permissions have been obtained

and under general observations
this property is in a reasonable state of repair.


The mortgage company have said they will investigate the reason for the contrasting reports.


Which should I go with, my understanding was to get the homebuyers for a more in depth report but it appears that its actually less in depth from the initial section I've recieved.

If I take the second then I'll most likely buy the property if the first I'll keep it at arms length or at least attempt to get a considerable reduction in price.

Please I need advice from people who are more housebuyer aware than I am

Fairdo_2

You've got to assume the worst case, as it doesn't sound to me like comments for comments sake.

This puts you in a stronger position to negotiate a price reduction or preferably, to get the essential works carried out before you exchange.

I would also suggest that you get it re-inspected after work completed (if they accept to this route) by the same valuer.

Hope this helps.