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Survey question
We have the mortgage offer but wondered about the survey process.
Do lenders insist on both a valuation and survey or does it depend on different factors ?
We are just wondering whether our buyers will be having a survey on our property as it's been a month since we accepted their offer and no-one has contacted us about a survey as yet.
Many thanks
Comments
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Lenders only want a valuation (and occasionally a more specialist report if anything specific is picked up about structure or damp needing further investigation). Up to the buyers whether in addition they want a Homebuyer's Report or something more thorough.Others are reporting delays with getting surveyors out (post-lockdown backlog / holidays) so that might account for the silence, though no harming in giving them a nudge via the agents.1
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It's up to you if you decide to get a survey or not. The lenders will want a valuation for obvious reasons.You should chase your agent and solicitors to chase the buyers in turn and find out what they are doing - do you know if they're getting a mortgage, if so have they carried out a valuation survey yet?1
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All we know is that they are investors who will be rs ring out our house. No mention made that they are cash buyers so assume they will need a mortgage.
If they have had valuation done it must have been online as not had anyone round to conduct it.
Thanks for the advice, will speak to EA & solicitors and tomorrow and chase up0 -
banks are doing desk top valuations these days because of covid 19. speak to your EA and find out what the situation is.1
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