Home Report - Scotland

csswiift

Morning,

I wondered how easy it would be for the seller of a property I've purchased, to convince the surveyor to increase the Home Report value? I haven't organised my own Home Report as a back up however, the seller said he has had three valuations and chose the lower valuation to work with which seems suspicious to me.

Anybody come across this or am I being paranoid? I know strictly that this would be illegal practise however, who knows...

user1977

I think it goes without saying that it's "helpful" for the (seller's) surveyor to come up with the best possible valuation, but it's their professional indemnity insurance which is on the line if they push it too far, so really I would expect it all to fall within a fairly narrow range

I doubt the three different valuations are from surveyors, probably just the initial (less professional) guesstimates by estate agents.

tonyh66

Just sold a house in Scotland, Estate agent/solicitor values the house. In my experience the mortgage valuation which the surveyor provides always corresponds to the value the EA has given it. Its beneficial to the buyer in that the mortgage company follows the surveyors valuation. You only overpay for a house in Scotland because you need to go over the valuation price to secure the house if it is popular (we had 5 offers over valuation for ours).

Its highly unlikely a surveyor would risk his career to overvalue on the suggestion of a seller, but I wouldn't be surprised that they followed the EA valuation to maintain a good working relationship with them.

sheramber

My home report value was much higher than the estate agent valuation.