Sent back to valuer for re-valuation santander

charlotte4940

We are nearly close to exchange but my solicitor has sent my offer back to santander for a re-valuation.

There is a quarry in close proximity that has been there since 2001.

the valuer has noted this in his original valuation form.

She wants the valuer to confirm that this has been taken into consideration.

How long will this process take? We are fully aware that there is a quarry nearby as we have lived in the same are for about 20 years.

im thinking if hes already mentioned this is his original valuation he is obviously aware of it or santander could pull out.

Has anyone experienced this before and how long could it take to hear back from santander?

Thanks

stephenni1971

Can you let me know the Solicitors so I can be sure and avoid using them ? ;-)

bebewoo

YOUR solicitor did this?

charlotte4940

Yes my solicitor did this!!

I did say I was fully aware that the quarry was already there but they said if the bank ever had to repossess they property i would be the solicitor they would come to and say why did you not mention this!

Thrugelmir

Has something arisen from the searches that wasn't previously known?

stephenni1971

It's a funy one as the conveyancing solicitor has a responsibility both to the purchaser AND the lender.

I think there is a bit of !!! covering going on here though as if it is referred to in the survey then of course it would be reflected in the valuation.

charlotte4940

Thrugelmir wrote: »

Has something arisen from the searches that wasn't previously known?

The local search came back as normal showing the land that the quarry own. it was in close proximity to the house although we cannot see it.

I have always know about the quarry as it has been the for many years. She has sent it back with a copy of the current plan the quarry have which is a far distance from our property.

the surveyor is well aware of the quarry as he mentioned it in his report.

stator

If you have evidence that the surveyor knew about the quarry then I wouldn't worry about it, your solicitor is just covering themselves because they have dual obligations to you and the bank.