Buyer sending round a valuer

morleymackam

We're selling at the moment and both parties are moving for a quick sale. His valuer is coming round on Wednesday but we don't know whether to expect a survey as well. Aren;t they normally done by the same person?

The valuers (countrywide surveyors) have told me it is only a 20 minute valuation. They have specifically said that it will not be a survey.

Any ideas? how do I ask the buyers? Through the solicitor or estate agent?

marybishop

Depends what they've booked. If they've just gone for a valuation then it will be quick. They may have booked a survey through the lender which could be on a different day as it is longer inspection depending on the size of the property but say a 3 bed semi would probably be min. 2 hours. Or they could have booked a survey independently i.e. not through the lender, found someone through the RICS or Yell, etc in which case it would more than likely be on a different day unless pure coincidence! Ask the agent if they know as when we book surveys we go through the agent (unless there isn't one) and they liaise with the vendor as to access and dates/times.

Lorian

most likely they are not having a hombuyers report or full survey. Great for you, unwise of them.

morleymackam

Had the valuer round. He spent a good while looking at fixtures, asking about the fire, cheking the loft, checking the cellar, taking damp readings.

Is this normal?

Our buyer works for his mortgage lender and I wonder if he's given a cheeky backhander for a mini-survey instead of just a valuation (as we were told).

leftieM

It's normal. They need to check for obvious faults/ work required. They can put a retention on the mortgage if there are damp problems etc.

smreynard

That sounds like a usual valuation for a mortgage to me.

Voyager2002

Why are you worried? Do you know something that you don't want the buyer to find out?

Actually, the inspection of the house is the same for a valuation as for a home-buyer's report. However, the latter gives the buyer more information about what was observed, and it is presented in a glossy form.

morleymackam

Not worried or hiding anything. Just worried that he's dragging his heals with regard to a survey. We hope to exchange by 23rd November.

We're selling for the first time and the valuation seemed excessive considering the valuation reports that we've had back on houses we were buying.

Lorian

morleymackam wrote:

Not worried or hiding anything. Just worried that he's dragging his heals with regard to a survey. We hope to exchange by 23rd November.

We're selling for the first time and the valuation seemed excessive considering the valuation reports that we've had back on houses we were buying.

Just Reeellllaaxx. Nothing unusual going on here.

Rick62

Why you think he's dragging his feet - the valuer has been?

Half an hour or so to value a £100,000 plus asset is hardly excessive. If you were lending however much to someone secured on one asset how much time would you want to spend checking the condition of that asset?

Doozergirl

Sounds like a normal valuation to me too. Lofts and cellars are good places to see the bare bones of a building. Damp readings are a neccessity and if you're there, they will ask questions.

I know how you feel though, it is nervous time and you always feel as if you're being put on trial I usually ask the surveyor if I've 'passed'. They don't say yes or no, but they give you a good indication.