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No reports asked for?...
roosterbean
Posts: 459 Forumite
Hi Guys and Gals,
I have just had a valuation done on our proposed house - it has been valued up to the offer accepted although states that the property is in poor condition and will need full repair and refurbishment programme. This is fine as we know it is a refurb but I was expecting requests for Timber & Damp reports, electrical reports, roofing reports etc.
Does this mean that he is not insisting on them or that the bank will do this instead before offering?
Also, does anyone have any idea how much these reports will cost?
I have just had a valuation done on our proposed house - it has been valued up to the offer accepted although states that the property is in poor condition and will need full repair and refurbishment programme. This is fine as we know it is a refurb but I was expecting requests for Timber & Damp reports, electrical reports, roofing reports etc.
Does this mean that he is not insisting on them or that the bank will do this instead before offering?
Also, does anyone have any idea how much these reports will cost?
"A" is for Opple if yowm spaking loike a yamyam!
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Comments
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It's the valuer that would recommend to the mortgage lender that further reports are obtained, so basically, you won't be asked to do so now.
I assume that will be because you have a decent deposit? They are only likely to ask for reports if the things that need doing are likely to affect the value enough to affect the actual loan, iyswim.
Not to say that you shouldn't find out exactly what needs doing before you buy the house!Everything that is supposed to be in heaven is already here on earth.
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Thanks Doozergirl, OH (builder) has had a good look - we didn't want to face a retention as we want to crack on with an extension straightaway so this is good news for us."A" is for Opple if yowm spaking loike a yamyam!0
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