Lenders valuer is factually wrong. What can we do

originalmissy

penners324 said:

Go back to the estate agent that the buyer's surveyor is talking absolute nonsense and request they pass that onto the buyer.

It was the lenders valuer, apparently that's different to a surveyor, but the lenders said they can't lend on the property due to the spray foam. Honestly it is getting ridiculous. The buyer pulled out and have apparently gone for another property so the valuer has cost us a sale and possibly any future sales. Estate agent says the property is unmortgagable so will only be able to sell to a cash buyer. 

originalmissy

NameUnavailable said:

Estate Agents aren't surveyors. They don't usually inspect loft spaces.

If the buyers have pulled out on the basis of the surveyors comments and aren't now returning calls/emails to the agent then I guess there's not much more they can do.

I would show the agents your photos and explain it's obviously an error and wait for the next would be buyer.

Have sent photo to estate agents. I know they don't inspect lofts and are not surveyors but I would insist that they looked and took photos as to include in my file.
The buyer has pulled out and has now gone for a different property as their mortgage company refused to lend on our property.

originalmissy

dannim12345 said:

Were they defiantly happy with the steel construction?  Not sure all mortgage companies would lead.  Maybe they weren’t happy to lend on that but a copy / paste error meant the spray foam insulation was also mentioned or referred to instead? 

That I don't know, however I do know that a lot if lenders are happy to lend on steel frames properties otherwise a lot of the houses in our area wouldn't get sold lol. 

BobT36

Is Steel like that better or worse than Timber? Just curious. 

Yorkie1

One difficulty you might have is if a future buyer's lender uses the same valuation firm - they may cross reference the valuation survey. 

RHemmings

The photo looks quite clear to me, but I don't know about steel framed houses. It does look much more like Meccano than I expected. This is not a criticism. There are quite a lot of steel framed houses in an area near to me. And, they sell. 

originalmissy

BobT36 said:

Is Steel like that better or worse than Timber? Just curious. 

I really don't know. The house was built in the late 60s early 70s

originalmissy

Yorkie1 said:

One difficulty you might have is if a future buyer's lender uses the same valuation firm - they may cross reference the valuation survey. 

Yeah thats what concerns me which is why I will explain the situation to what ever estate agent we go with and ensure they have some photos on my file.
The whole situation  is crazy and really stressing us out.

daveyjp

My parents live in a steel framed bungalow, ln an estate of many similar properties.  It has been in our family since the 70s and the properties are now almost 60 years old, many have been extended over the years with no problems encountered.   There has never been an issue with them being steel framed or buyers obtaining mortgages.

Apparently steel was used because at the time they were built it was cheaper than timber.

originalmissy

Just wanted to thank everyone for their input, its been interesting.