Challenging surveyor valuation (done for housing association)

xxedrushxx

Hi there

I’m wondering whether it’s possible to challenge a valuation on my property, not done for a lender, but something done as part of a requirement by a shared ownership scheme?

To elaborate:

I would like to sell my shared ownership property and one of the stipulations given by my housing association is that it must be valued by an independent chartered surveyor on their list (of about 20). I have just had the valuation report back and there seems to be a few sections I disagree with. In the valuation the floor space is out by around 13msq, which is the equivalent of a large single room. I know this is out because I have an energy certificate, developers’ floor plan and my own measurements which are the same. The report explains that my property overlooks a busy road, but in fact, although the entrance to the building does, my property overlooks a standard road on a different face of the building. Lastly, one of the comparable, sold for the same valuation as given for my proerty, is 23msq smaller and doesn’t have an allocated parking space. It is about 100m down the road from me and is on a busy carriageway.

Is it part of a surveyors “standards” to allow such an appeal, could it be changed based on what I have pointed out? Worst case scenario is that I would pay for a second opinion, but its another £300-£400, but if it adds thousands, I think its worth it.

Last thing, I’m not sure of this communities feeling towards Zoopla, but their estimation is £42k more than my valuation at 94% confidence rating. I won’t take too much notice, but it’s quite a big distance (8%)

mrsmazza

Is there any contact details on the report, eg phone no. or email ?

I would contact them and tell them your concerns.

It sounds as if he copied a report on another flat in your block , hence the differences.

xxedrushxx

mrsmazza wrote: »

Is there any contact details on the report, eg phone no. or email ?

I would contact them and tell them your concerns.

It sounds as if he copied a report on another flat in your block , hence the differences.

Hi, thanks for the reply. I do have their details to contact as it was me who selected them and paid for the service. I don't think they made a mistake as no property has sold in my block since they were developed a few years back.

I wondered if a surveyors valuation is final or you can really challenge them on a report?

eddddy

xxedrushxx wrote: »

I wondered if a surveyors valuation is final or you can really challenge them on a report?

I suspect you'll find it very, very difficult to persuade them to change their valuation.

They are professional valuers. If you challenge them, and they change their valuation - it's a kind of admission that they 'got it wrong'. They will not want to say that.

As you suggest, you could try getting a valuation from another firm instead.

nicmyles

I tried to challenge a valuation done for my mortgage lender, which down-valued the flat I was trying to buy to a point where we could no longer borrow enough money to buy it. Valuation was insane, but had some of the same issues as yours, e.g. busy road cited, measurements well below any other measurements taken on the property during previous surveys.

Spoke to the surveyor personally, pointed out his error with the measurements, gave five comparable properties in the area sold in last six months that supported our purchase price. He came back citing a property two miles away in a less good area and a flat in the ex-council block over the road - both irrelevant.

Would not budge. It was maddening. So good luck, but don't hold your breath.

xxedrushxx

nicmyles wrote: »

Spoke to the surveyor personally, pointed out his error with the measurements, gave five comparable properties in the area sold in last six months that supported our purchase price. QUOTE]


That's a good idea to back up my case. Is it possible to see sold prices and attributes such as the floor area of the property sold? land registry just gives price + property type e.g detached.

nicmyles

Is it possible to see sold prices and attributes such as the floor area of the property sold? land registry just gives price + property type e.g detached.

Our estate agent provided these for us and was also able to get hold of some recently sold by other agents.

I think it's also still generally possible to look at the particulars on Rightmove and Zoopla's "sold prices" searches, if the property was previously listed on the sites.

Edit: Sorry, when I say "our" estate agent, I mean the agent selling the flat, i.e. our vendor's estate agent.