Challenging a Surveyors Valuation

VIGILANT22

I have already stated valuations will differ between an "independent surveyor" and survey for lending purposes......"they are pricing it in a market for a quick sale at a time when house prices have fallen and could be set to fall again"

happybroker

DWW wrote: »

So a survey has absoltely nothing to do with looking at a property, where improvements have been made etc?

It does take this into account but often improvements add no where near as much value as homeowners (or the people that sell home improvements) would have you believe. They often make it easier to sell or to achieve it "market value" however.

Valuers often work to a "3 month sale" figure which can be where a down value comes from.

The big issue for me is that 2 surveyors can put very different figures down for this same property on the same 3 month sale figure so it makes it a bit of a lottery for the customer who, at the end of the day, is the one relying on the professionals to be fair, open, honest and good at what they do.

a_j_mair

At the end of the day a house is the same as any other material object and is worth what someone is willing to pay.

Wether they can afford it is a different storey. I think people still have an unrealistic view on the value of houses and how much they have dropped.

we recently sold 2 houses fro 20% less than excpected, the prices were based on a price per square foot of very similar property sold at the peak of the market.

Surveyors can often be a bit vague with valuations, we were told that a double garage with remote door electric and water did not increase the value, just made it more saleable, same was said for a large garden.

porscheking

I'm in Scotland. Selling my flat. I need a Home Report. First surveyor comes around and suggests £280k valuation which I rejected as it was out of line with comparable (recent) sales.

I get another surveyor around. Values at £310k.

I market the property and achieve a sale price of near £330k within 7 days. It's a bit of a lottery really.

Deep_Pockets_Short_Arms

Why do surveyors always need to know how much you've offered on a house before they conduct the survey? And then the valuation is always identical to that amount!

Surveys seem overpriced, and all you receive is a report riddled with get out clauses to protect the surveying company. My experience of surveys is that they are not worth the paper they're printed on.

RICS seem to offer no support either and tend to be more of a facility for surveyors, than a regulatory body.

My post probably doesn't add much, but I got it off my chest!! :mad: