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Mortgage valuation says "reinspection is recommended" worry?
missminx007
Posts: 173 Forumite
Do I have anything to worry about? We haven't received our offer yet but we have had a copy of the valuation.
There is a ticked box which says "is a reinspection recommended?"
Does this mean they want to go and have another look?
There is a ticked box which says "is a reinspection recommended?"
Does this mean they want to go and have another look?
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Comments
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Does it mean they are recommending a further more in-depth survey?0
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Or could it mean they are retaining some money until something is altered/improved, then re-inspecting just that aspect?
That happened to me with a house that needed the hot water system updated, but it was a long time ago.0 -
Yes, it means the surveyor going to have another look. I've only previously seen it where a house is under construction. Is there any building or other work to be done to it?0
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Is there anything in the "essential repairs required as a condition of this mortgage" box?
As david asked, is it under construction, renovation, conversion etc?
A reinspection is usually recommended if something hasn't yet been finished, or needs doing before completion.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
In the box where it mentions that a retention it is ticked no. It does need some work doing, it hasn't got a boiler so might it be that?
In the comments it says it is typical to a building that age. It is mostly decorative work that needs to be done so I wouldn't think they are bothered about that.0 -
It also says "suitable for mortgage security" and it has been ticked.
I wonder if its just suggesting we have a more in depth survey as it was only a valuation.0 -
Was anything said about the annexe Missminx?0
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It sounds like a typo.
If it's a mortgage report & valuation only, ask your broker or lender to query it with the surveyor, as it makes no sense.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Nothing yet on the annexe, waiting to hear next week if they will query it or not.......0
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