Surveyor Coming Round for Mortgage Valuation - What to be Aware of?

evansmummy

Be aware that valuers have been asked, discreetly, to undervalue houses so they don't have to lend out as much money and to safeguard their investment. This is straight from the valuers mouth.
I know this as my first sale fell through due to undervalue amount of 19K. This was because they had a quick look through our house (which is an unusual listed property) and used nethouseprices to base the valuations on. I could ring nethouseprices neck cause the two houses that we were matched against were complete wrecks, but of course non of this is mentioned on the website.
Rant over!
Anyway the valuer I spoke to, at length, said to leave out your original EA valuations on the table to give him an idea.

MoneyJuggler

I think it's standard to have a valuer round -we had one a few months ago -he measured a couple of rooms, checked the wood floor joists (from beneath, in the cellar) for any rot, and had a meter which checked for damp which he put against a few of the walls to check for damp.

I think he also asked what heating there was, and checked the depth of the floor joists in the attic conversion.

Took about an hour in a 4 bed terrace -I think he was just making sure that there weren't any problems with damp/rot/DIY conversions etc

Oh and yes to agree with poster above, he did ask how we arrived at the valuation/selling price (we had 3 different EA valuations plus sold prices in the street etc)