What to expect ???

losgiganteskid

Got a guy coming round shortly to do a mortgage valuation on the house - what should I expect and how long does it take to complete ?

gazter

He'll come in, have a look in all the rooms, mumble about building regs and any planning permission you might have, go outside and look at the property from different angles, mumble onto his sheets, and squirrel away.

He'll probably be driving a very nice car. He just got paid £250 for twenty minutes of work.

witchy1066

gazter wrote: »

He'll come in, have a look in all the rooms, mumble about building regs and any planning permission you might have, go outside and look at the property from different angles, mumble onto his sheets, and squirrel away.

He'll probably be driving a very nice car. He just got paid £250 for twenty minutes of work.

:rotfl:I know your joking but really , please tell us they do more than that

Davesnave

Don't confuse a mortgage valuation with a proper survey. The BS simply want to know that the value of the house will be sufficient if their client defaults and they have to repossess.

It will probably be a very short visit.

dimbo61

My son is at university training to be a building surveyor and after he has done 3 years to get his degree he will then need 2/3 years working in a building surveying practice and more exams to get to be a Chartered Building Surveyor.
Drive by valuation or full survey?

gazter

witchy1066 wrote: »

:rotfl:I know your joking but really , please tell us they do more than that

Seriously, that is pretty much what they do. Ok, the guy who came round was actually quite personable, but he didnt really do much more than that. Remember its only a valuation.

Is the house worth the price being asked? Yes, fine, not, then the building society will offer a lower sum.

If there any obvious defects, then it gets noted, but he aint too interested in going in depth, thats what the other more expensive reports are for.

As a seller it is great for you that your prospective buyers have gone for the cheap option, less likely anything will be thrown up, and less likely that they can use the information to negotiate downwards.

The surveyor really does most of the work back at the office. He checks what the prices have gone for recently for similar properties in the area, and he will base his value around that.

gazter

dimbo61 wrote: »

My son is at university training to be a building surveyor and after he has done 3 years to get his degree he will then need 2/3 years working in a building surveying practice and more exams to get to be a Chartered Building Surveyor.
Drive by valuation or full survey?

You have brought your son up well to make good decisions. He will live a comfortable and prosperous life being a surveyor.

grifferz

witchy1066 wrote: »

:rotfl:I know your joking but really , please tell us they do more than that

This is likely accurate for a mortgage valuation alone (not a survey).

The buyer of the flat we are currently renting had a mortgage valuation done last month and the guy was honestly in our property less than 10 minutes.

He measured the dimensions of each room with a laser thingy, verbally confirmed it was tenanted and that we were the tenants and then said goodbye.

chelseablue

I had a mortgage valuation done last week

He went round and measured each room, and did a floor plan of the property on some fancy hand held computer

Then he took a photo of the kitchen and bathroom

Then he went and had a look round outside and that was it he went after that

Took around 20 minutes