Surveyor for proper valuation

[user1485552170]

Hi all,

First post on Mumsnet!

I've recently had my offer on a property accepted and I'd now like to find a surveyor to carry out a valuation.

I'd like to get a conservative / prudent estimate of the valuation of the property as I don't know if I'm paying a lot more than its worth. I really don't want to be paying too much over as I'm a bit of a worrier regarding house prices already let alone if I was paying a lot more than it was worth!

Is this something that I can mention to the surveyor to ensure that it is prudent and then ask them for detail on their valuation / comparables so I can check if I agree?

Also, some of the valuations are "free" with the survey so I worry these are a bit of a 5 minute job without proper research. Do you think this would the case, even if I requested proper info?

This would not be carried out by the mortgage provider (they would do their own basic one) so I wouldn't need to worry about impact to the mortgage if it was down-valued.

I'd appreciate any thoughts or info on surveys.

Thanks.

Hello,
Are you getting a mortgage? If so, the surveyor your mortgage company is using (you'll be paying for it!) can do a survey for you at the same time. The mortgage valuation is not good enough for a buyer; you'll either need a homebuyer's report or a full survey. It depends what sort of property you are buying as to whether you need the HB report or a full survey. The full survey is more detailed and more expensive but look on the RICS website as that will give you some info.
Hope everything will go through smoothly!

You've made an offer so by definition that's what the property is worth to you. Have you made it subject to survey? The mortgage lender's surveyor will also give a valuation as part of the survey he carries out - you can pay extra for him to do a survey for you at the same time. The valuation is so that the lender is assured the property is sufficient security for the loan.

If the surveyor doesn't think the house is worth the money, the valuation will be lower and you will only be able to get a mortgage for a lower amount. Unless you were to renegotiate with the vendor, you would have to make the difference yourself if you still wanted to go ahead.