I think I have the "unsellable" property

SimonMrGreenWard

Milliewilly wrote: »

True but if they miss it you sue them - you are paying for a service they should do a proper job. Simples.

A basic valuation is for the banks benefit, not the purchaser.

SimonMrGreenWard

"This has caused me nothing but trouble since then when I went for a remortgage I had to get an engineers report which said they couldn't tell if the movement was progressive or not...."

What happened with this? Did they remortgage? You need to get a specific report done to determine if it's progressive or not. If it is, the building will need to be underpinned, if it's not, you can have this written up and all will be fine. The sale will only fall through if the estate agent or anybody else unnecessarily scares the buyer.

Had this on a house recently (it took a long time to get through, so be prepared) and it completed. Just had to get all the reports done properly and to the buyer (and their lenders) satisfaction.

Milliewilly

SimonMrGreenWard wrote: »

A basic valuation is for the banks benefit, not the purchaser.

Doesn't mean you can't sue them. If you pay for the valuation there is a direct contract between you and the valuation Surveyor in Law.

Been there done it.

Eric1

SimonMrGreenWard wrote: »

You need to get a specific report done to determine if it's progressive or not. If it is, the building will need to be underpinned, if it's not, you can have this written up and all will be fine. The sale will only fall through if the estate agent or anybody else unnecessarily scares the buyer.

It would also help if the sellers were upfront about it. Some buyers don't like nasty surprises grudgingly disclosed late in the process.

elvis_girl

SimonMrGreenWard wrote: »

"This has caused me nothing but trouble since then when I went for a remortgage I had to get an engineers report which said they couldn't tell if the movement was progressive or not...."

What happened with this? Did they remortgage? You need to get a specific report done to determine if it's progressive or not. If it is, the building will need to be underpinned, if it's not, you can have this written up and all will be fine. The sale will only fall through if the estate agent or anybody else unnecessarily scares the buyer.

Had this on a house recently (it took a long time to get through, so be prepared) and it completed. Just had to get all the reports done properly and to the buyer (and their lenders) satisfaction.[/QUOTE

Yes I got the remortgage back in 2007. It said that the cracks were seasonal & that the movement was historic. It recommended that I treated the metal window lintels (which I did) as apparently this can cause cracking.

elvis_girl

Milliewilly wrote: »

Doesn't mean you can't sue them. If you pay for the valuation there is a direct contract between you and the valuation Surveyor in Law.

Been there done it.

Would I really have any comeback? I never expected to hence why I didn't pursue it

Milliewilly

elvis_girl wrote: »

Would I really have any comeback? I never expected to hence why I didn't pursue it

Yes if you have a serious problem that's affected the value then the valuer has been negligent and you can sue. Ignore any disclaimers on the survey - they are easily defeated by something called the 'unfair contract terms act'.

As previously said even on a simple valuation survey you can sue the Surveyor if you have paid for the survey (i.e it wasn't free as part of your mortgage deal) and they have missed something major. It is important in Law that you have paid directly for the survey (even if its a cheque to your mortgage lender not directly to the Surveyor themselves) as that means there is a direct contract between you and the Surveyor. There are many cases in Law where a Judge ruled that buyers rely on a valuation survey.

There are a lot of posters on here who leap on the bandwagon saying valuation= no chance. I am guessing they don't speak from experience because they are wrong.

I have posted on this many times if you search - I successfully sued the Alliance and Leicester for a negligent valuation survey so can speak from experience. You have 7 years to do it from when you purchased.

elvis_girl

Milliewilly wrote: »

Yes if you have a serious problem that's affected the value then the valuer has been negligent and you can sue. Ignore any disclaimers on the survey - they are easily defeated by something called the 'unfair contract terms act'.

As previously said even on a simple valuation survey you can sue the Surveyor if you have paid for the survey (i.e it wasn't free as part of your mortgage deal) and they have missed something major. It is important in Law that you have paid directly for the survey (even if its a cheque to your mortgage lender not directly to the Surveyor themselves) as that means there is a direct contract between you and the Surveyor. There are many cases in Law where a Judge ruled that buyers rely on a valuation survey.

There are a lot of posters on here who leap on the bandwagon saying valuation= no chance. I am guessing they don't speak from experience because they are wrong.

I have posted on this many times if you search - I successfully sued the Alliance and Leicester for a negligent valuation survey so can speak from experience. You have 7 years to do it from when you purchased.

Just read your posts on this thread
https://forums.moneysavingexpert.com/discussion/2658647=

Sounding spookily similar to my own! My purchaser is buying with a council shared ownership scheme. It now turns out that said council were involved with historic problems in my flat, and that it is them that require the engineers report. It kinda begs the question if they made repairs to the property (some 20+ years ago I believe) then they are in the best position out of anyone to know what problems there could have been!