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Low valuation - mistakes on report
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Contact the valuer - they may have assessed another slightly different property in the vicinity on the same day. Mistakes happen but that's the place to start.0
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Will the valuer speak to the buyer about it when it's arranged through the bank? It's with HSBC.
No harm in asking them to verify the info relates to the property you want to purchase, however you could collate local data or for the cost of a few hundred pounds get another report ( I always obtain a full structural survey) to dispute the lender's valuation - and to find out if any defects are evident.
It could just be a cut-and-paste desktop valuation gone wrong IYSWIM -
The valuer owes you no explanation regarding detail/content though as they are answerable to the Lender and only for the valuation - hence not a useful survey for the buyer!0 -
I had something similar when I was buying my shared ownership house, on the valuation report it stated 1 toilet 68sqm and timber frame construction, when my house is 79sqm, has 2 toilets and is built with block a brick. Mortgage company didn't seem to bothered as it was valued at the asking price but I can see how this could cause issues if it was down valued. I don't think the surveyor even bothered to take a look at the house, they must of just done a drive by.0
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