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Survey missed major flaw - now what?
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I used to work for a Building Society Head Office and we would receive complaints about the valuer/surveyor a few times a year. It's certainly not unheard of for a Surveyor to have to answer for any alleged negligence/oversight. I am assuming the OP used the Building Society's own Surveyor rather than an Independent one?
These complaints would be taken seriously and dealt with by a HO Manager or the BSociety's Legal Dept if necessary, in liaison with the Surveyor and his/her insurer. I know that some cases did result in an offer of compensation but I was not involved in that side so can't say how much (it was years ago) except that it would be related to any financial loss that could be proven and the inconvenience/expenses.
Most complainants used a Solicitor to write the letters; maybe the OP's Solicitor is simply not experienced in dealing with valuation complaints and cannot help, but that doesn't mean that another Solicitor would say the same. I think you can ask the Law Society for a list of Solicitors in your area who may take on negligence litigation like this (or you could phone around larger firms in your area and ask if it is something they have experience of dealing with, then instruct the firm you feel is right).
There is also the Financial Services Ombudsman service who may be able to deal with a complaint if not resolved (I'm not certain if this sort of case is handled by the Ombudsman though, maybe someone else knows for sure?):
http://www.financial-ombudsman.org.uk/
But, as suggested already, I would say start with the buyer's own typed letter to the Surveyor with a copy to the Building Society (maybe cc to the Chief Exec at the Building Society too, to make sure the complaint is handled by the appropriate person there, not just your Branch manager).
Then involve a Solicitor if necessary later on, if they and you feel you have a strong enough case and that you want to pursue it; be aware these cases can be quite stressful.
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