MSE News: House prices 'to climb further'

Emy1501

Really2 wrote: »

So we have gone from drive by valuation to standard valuation, I am glad you have now changed your stance.

Yes a full structural valuation is different but so is a standard valuation to a drive by.

You were trying to make out most houses were purchased on a drive by and that simply is not true.

A surveyor can pick up info on state of repair, wall moves (which may require building regs), possible structural failings and many other things in a standard report. They will bring them to the lenders attention and then the lender may want a solution.
They simply can't on a drive by and that is why drive by's are only really used in low LTV or remortgages.

A full structural is the most in depth you can get and is worth it if the house is older.

I actually said many do not go into the property to do a valuation thats not most. You can also comment on movement by looking at the outside of the house etc.

Really2

Emy1501 wrote: »

I actually said many do not go into the property to do a valuation thats not most. You can also comment on movement by looking at the outside of the house etc.

I agree, but nearly all of that many will be low LTV buyers or re-mortgages.;)

chucky

Emy1501 wrote: »

I actually said many do not go into the property to do a valuation thats not most. You can also comment on movement by looking at the outside of the house etc.

so you've now switched from questioning the accuracy of the RICS survey to questioning the number of people that take out structural surveys to property valuations... :rolleyes:

Emy1501

chucky wrote: »

so you've now switched from questioning the accuracy of the RICS survey to questioning the number of people that take out structural surveys to property valuations... :rolleyes:

If you need a mortgage or remortgage you will not get either without a member of RICS valuing the property. Regardless of how useless you think they are - they are an integral part of the mortgage market. If you are a cash buyer you don't need one - if the house is not sound, it's your own money at risk not someone elses.

They are not estate agents - they are employed by your lender usually paid for by you.

Read the post I first responded to above in bold. It was about mortgage valuations for lending purposes. These are not structual surveys or Homebuyer reports. A structual report is not paid by the buyer for the lenders purposes only a mortgage valuation report is.

I actually said that many surveyors to not go into a property when doing a Mortgage Valuation.

Are we clear now? Maybe someone will actually answer the original question I asked now Please?

Harry_Powell

Is there any point or indeed will there be any ending to this valuation discussion? It seems to go around and around and end right back at the beginning.

Really2

Emy1501 wrote: »

They are not estate agents - they are employed by your lender usually paid for by you. [/B]

R

They are not employed by the lender they are 3rd party chartered surveyors.!!!!

Emy1501 wrote: »

Do you know how many surveyors value a property? Many simply ring round a number of local estate agent and then take an average. before the crash many did not even go inside a property when valuing for mortgae purposes

You said many do not go in to the house. That is simply not true of a mortgage lenders standard valuation for a purchase.
i have never had a standard valuation where a surveyor did not go in to the property. I have for a remortgage at a low LTV .

Emy1501

Really2 wrote: »

They are not employed by the lender they are 3rd party chartered surveyors.!!!!


You said many do not go in to the house. That is simply not true of a mortgage lenders standard valuation for a purchase.
i have never had a standard valuation where a surveyor did not go in to the property. I have for a remortgage at a low LTV .

OK fine your right I'm wrong lets forget about the valuation thing now. Can you answer my original question now?

Really2

Emy1501 wrote: »

OK fine your right I'm wrong lets forget about the valuation thing now. Can you answer my original question now?

Emy1501 wrote: »

Maybe RICS can explain how more properties coming to the market and less buyers registering can lead to continuing house prrice rises?

I will let RICS do that.

Although the supply of property is beginning to pick-up, it is still insufficient to keep pace with the increase in demand which points to further prices gains in the near term. Cheap money remains a critical prop for the market and this is being reflected in the continuing appetite for finance from first-time buyers despite the large deposits still being demanded by lenders."

IveSeenTheLight

Emy1501 wrote: »

OK fine your right I'm wrong lets forget about the valuation thing now.

It's quite refreshing when people admit they were incorrect and learn something from this forum.
It's not often that people admit there errors.
Well done :T

Emy1501

Really2 wrote: »

I will let RICS do that.

Rics though have confirmed that the increase in buyers is falling and has been falling for the last 4 months? If this continues and the number of sellers continue to increase than its likely prices will not fall?