Do vendors find out the mortgage valuation result?

kasperblue

I had a valuation done on my property I'm selling last Tuesday morning. The surveyor from Countrywide popped in for 10 minutes (he mentioned he was instructed by Nationwide) and that the report would be back with Nationwide in 48 hours - so by last Thursday lunchtime.


Do vendors usually find out about valuation results? From what I have seen on these forums NW customers seem to get texts stating the survey is all ok.....so would it be fair to assume that I would have probably found out by now if the survey had shown an under valuation?


Feeling very anxious :-/

kingstreet

The vendor would only know the result if the purchaser shared it with them. That would normally only be the case if there was an issue.

Leon_W

I know it's an old cliche but your post does go to show how ineffectual plumping for a basic mortgage valuation is when spending hundreds of thousands of pounds on a property. 10 Minutes !


I hope if you're buying on make the wise decision of paying a few hundred quid extra for at least a Homebuyers Report. Better still instruct your own survey.

egoode

Leon_W wrote: »

I know it's an old cliche but your post does go to show how ineffectual plumping for a basic mortgage valuation is when spending hundreds of thousands of pounds on a property. 10 Minutes !


I hope if you're buying on make the wise decision of paying a few hundred quid extra for at least a Homebuyers Report. Better still instruct your own survey.

The buyer may still be planning to instruct their own surveyor after the valuation has been received. I know that's what I did as I wanted to ensure it passed the valuation before I instructed a surveyor. I also didn't want to use the mortgage company's surveyor as there were specific things I wanted to talk to them about and get them to look at so wanted someone I had chosen to do it.

kasperblue

The property I'm selling is only 12 years old so I'm guessing that they will probably not get a separate survey done away from the mortgage valuation (but you never know). But if they were holding off for this reason and the valuation had gone badly I'd hope I'd know by now!?? Grrrr hate waiting!

kasperblue

Another day has passed - still not heard (which I know is a good thing)!