home report

mcowan77

Hi
Im in the process of deciding which surveyor 2 choose.the estate agent has gave me at
Few options.
They range frm 225-450.the cheapest being one company who r not
Panel of lenders listed.they say that a buyers lender may instruct their own
Survey anyway,so their report is fine.any thoughts?.
Im in scotland

googler

The whole idea behind Home Reports is that buyers and their lenders use the single survey that you have carried out, rather than commissioning their own.

If a buyer is looking at two similar houses, one has a home report that their lender will accept (which they don't have to pay for) and yours, the other, has a home report that their lender won't accept, and they realise they'll have to pay out extra on their own survey, which house are they likely to choose?

mcowan77

Thanks 4 the reply.but do the lenders accept the hr valuation or do most instruct their own?

googler

They accept the HR. If these weren't being accepted in large numbers, the system would have broken down by now, and there'd have been some evidence in the press, or in the review of the HRs done by the Govt....

amcg67

hi

my mortgage company basically told me the sellers HR wasnt worth the paper it was written on and i had to pay for another (less comprehensive) survey.:eek:

googler

amcg67 wrote: »

hi

my mortgage company basically told me the sellers HR wasnt worth the paper it was written on and i had to pay for another (less comprehensive) survey.:eek:

Maybe the seller used a surveyor who wasn't on the lenders panels, as suggested above? Maybe you're not using one of the mainstream lenders?

Up to you how much you want to tell us. The other thread you posted in refers to a Homebuyers Report - is this you referring to the seller's Home Report / Scottish Single Survey?

amcg67

yes it will be - how do we know then which ones are good ones?

and mortgage is with brittania