My buyer's surveyor - I think they know each other

Kayakgirl_2

Hi,

My buyer had a survey done on my property yesterday. The surveyor resides in the local area (my buyer and I live in the same area) and I have a suspicion (which I can't go into on a public forum) that my buyer's daughter and son-in-law may well be associated with this guy on a personal level.

Does anyone know whether 'potential conflict of interest' applies to surveyors? Thanks for any helpful advice.

K.

silvercar

Is it a conflict of interest? They probably got a discount. His job is to act for the client anyway. I would be more worried if the buyer's surveyor knew the seller.

Kayakgirl_2

silvercar wrote: »

Is it a conflict of interest? They probably got a discount. His job is to act for the client anyway. I would be more worried if the buyer's surveyor knew the seller.

You're missing my point - if there is a personal relationship between my buyer and his surveyor, maybe the surveyor will value my property less than it would be by a surveyor who is totally impartial?

highguyuk

Kayakgirl wrote: »

You're missing my point - if there is a personal relationship between my buyer and his surveyor, maybe the surveyor will value my property less than it would be by a surveyor who is totally impartial?

That's not going to happen, because then they wouldn't get a mortgage on it - especially if you refused to negotiate.

More likely is that the defects will be rated higher and more may be picked up to aid with negotiation.

googler

The RICS ethics are outlined below

http://www.rics.org/fm/the-profession/professional-and-ethical-standards/

Innys1

Kayakgirl wrote: »

You're missing my point - if there is a personal relationship between my buyer and his surveyor, maybe the surveyor will value my property less than it would be by a surveyor who is totally impartial?

Yes, and you don't HAVE to sell to your buyer, do you?

I doesn't matter what the valuation is, because if it is too low, compared to other comparable recent sales in the area, you just put your place back on the market.

Stand your ground, whatever the valuation is. While it's still a buyer's market (just), you are still in a strong position because they want to buy your house at the agreed price. If they feel that way, chances are someone else will too.

G_M

This is a non discussion.

Last property I bought I took a 'friend' round to help me 'survey' the place - he's a builder.

Conflict of interest? Between who?

Buyer is free to take anyone/employ anyone they wish!

moromir

G_M wrote:

Conflict of interest? Between who?

I take the OP's point in this case.

Say I want to buy your house, my surveyor (who is also my friend on the sly), could start saying the electrics are totally shot when they're not, you've got a bit of woodworm there, etc etc.

None of which you can disprove without spending 100s on specialist reports.

Thrugelmir

moromir wrote: »

I take the OP's point in this case.

Say I want to buy your house, my surveyor (who is also my friend on the sly), could start saying the electrics are totally shot when they're not, you've got a bit of woodworm there, etc etc.

People in "professional" roles on the whole discharge their duties in the proper manner. As it's simply not worth losing their livelihood for. In particular their membership of a professional body.

happycamel_2

Is he the surveyor for the mortgage, perhaps not. My mortgage company didn't visit the house, they did a computer based valuation as it's fairly new. I separately had a relative do a proper survey, the relative is an RICS surveyor.

G_M

moromir wrote: »

I take the OP's point in this case.

Say I want to buy your house, my surveyor (who is also my friend on the sly), could start saying the electrics are totally shot when they're not, you've got a bit of woodworm there, etc etc.

None of which you can disprove without spending 100s on specialist reports.

I know my house - I've been living here!

If my buyer, with or without a friend's/builder's/surveyor's advice wanted to reduce the price because of electrics, woodworm whatever I would either

* consider this and negotiate if I felt it was justified or
* refuse to negotiate and tell the buyer to meet the agreed price or walk away.

At the end of the day, it's a free market: buyer and seller have to agree a price. Either side can use whatever negotiating tools they want. The other can agree, or not.