Mortgage valuation.. help

betsy123_2

hello,


Date Decision In Principle received- 2/3/15
Date application received -9/3/15
Date minimum submission recived- 18/3/15
Date valuation insructed- 01/4/15
Date vauation recived- 14/4/15
Date tree damp & timber report instuicted- 17/4/15
Date tree report carroed out- 21/4/15
Date damp & timber report carried out- 22/4/15
24/4/15- reports sent to valuer for comment




then yesterday the underwriters have looked at the valuers comments. his comments were asking for more reports to be carried such as electrical condition reports etc...


does any one know why he is only asking for them now?
shouldn't he of asked for them on the first valuation...


up to know we have spent £1500 on a building survey, damp & timber report & tree report.


we are now thinking of just walking a way but really love the house.


we are purchasing the house off my father.


comments would be very helpful

amnblog

betsy123 wrote: »

does any one know why he is only asking for them now?
shouldn't he of asked for them on the first valuation...

Only he knows that

up to know we have spent £1500 on a building survey, damp & timber report & tree report.

Perhaps the owner (Dad) should pay for the reports

we are now thinking of just walking a way but really love the house.

Love it, you may - but is it a good purchase?


Are you prepared for the lender to request special terms on the Lending such as 'retention' (holding some funds back)?

Let_Us_See

Mortgage valuation or Homebuyer's survey? More often than not, a surveyor requests a list of additional reports to cover his own backside and protect his PII. Harsh.............but unfortunately true!

betsy123_2

they did a valuation, however we paid for a building survey on top of this...
he asked for additional reports and now we've sent them in hes asked for more?