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Desktop survey rip off

2

Comments

  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ...or try another lender if they use different valuers (for the sake of giving you all the options)
    Everything that is supposed to be in heaven is already here on earth.
  • bigisi
    bigisi Posts: 925 Forumite
    Completely misleading thread title.
  • Mutton_Geoff
    Mutton_Geoff Posts: 4,079 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    bigisi wrote: »
    Completely misleading thread title.


    Yes, I thought it was about computers!
    Signature on holiday for two weeks
  • martinthebandit
    martinthebandit Posts: 4,422 Forumite
    Eighth Anniversary 1,000 Posts
    Mutton_Geoff wrote: »
    Yes, I thought it was about computers!

    Glad it was not just me.
  • letitbe90
    letitbe90 Posts: 345 Forumite
    jamie_128 wrote: »
    Property is overvalued, simple as that.

    Wrong, many desktop surveys get overturned (for better or worse) as desktop survey have a lot of potentially key information missing which would affect house prices (condition, recent extensions etc).
  • Nobbie1967
    Nobbie1967 Posts: 1,694 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    letitbe90 wrote: »
    Wrong, many desktop surveys get overturned (for better or worse) as desktop survey have a lot of potentially key information missing which would affect house prices (condition, recent extensions etc).

    That's a good point, I wonder if the OP could pay for a surveyor to visit the house to revise the lenders view of the value with the extra information acquired. Then again, maybe that would be throwing good money after bad if there is no significant extra info to be had as it's a recent build without substantial modification.

    Is it built within the last 10 years OP?
  • Bexgrossman
    Bexgrossman Posts: 143 Forumite
    Did the surveyor visit the property? It’s just how would they know it actually exists and also it doesn’t have structural movement.
  • kingstreet
    kingstreet Posts: 39,441 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Bexgrossman wrote: »
    Did the surveyor visit the property? It’s just how would they know it actually exists and also it doesn’t have structural movement.
    It's a desktop valuation. There was no physical inspection.

    That's the point of the thread.
    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.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Bexgrossman wrote: »
    Did the surveyor visit the property? It’s just how would they know it actually exists and also it doesn’t have structural movement.
    They wouldn't be certifying those things - they'd be for the lender to take a view on.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    1,000 Posts Second Anniversary Name Dropper
    Bexgrossman wrote: »
    Did the surveyor visit the property? It’s just how would they know it actually exists and also it doesn’t have structural movement.


    Desktop vals are usually only done on purchases when the LTV is very low. So even if the property were to move, the reduction in value wouldn't affect the lender.
    Also the valuers sometimes upgrade to driveby vals, and if still not happy with the underlying data and comparables they will do internal

    Its not just guess work
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