Buyers have instructed their mortgage valuation

[balloonraces]

What can I expect ? They’re coming this Thursday 😬

Someone turns up and has a look round. They decide if the house value is enough to support the amount the purchasers wish to borrow. You don’t need to do anything except let them in. They don’t care whether you’ve done the washing up or dusting.

Basically they will be there for 10-15 mins. My one didn't bother with the loft - just asked me whether I got any spray foam insulation up there. They really don't care about the state as long as they can get their money back if the buyer defaults in the future. Its the RICS survey which is the long one one - around 3 hours.

3 hours?!?!

Yeah my EA texted me and said he would be a few hours - turned out to be 3 in the end! Spent at least an hour outside (4 bed house) - before doing in doors. Goes in the loft, checks the toilets, runs the bath, wants to know where the stop cock is, checks the window lock - it just goes on. You might be lucky and they don't bother with a RICS survey.

This is for a different type of survey though. A valuation survey is very short.

Jesus cba with someone here for that long 😆
Hoping my buyers won’t bother with a proper survey, ftb though so guessing they will!

Ours just drove past the house for the valuation they didn’t come in.

I have to say my dog has not been impressed with the number of people that have trailed through the house over the last few months - Buyers/EA's/Surveyors/Trades/Furniture removers as down sizing. Done the last round of removals quotes today - hopefully that is it for a while!

Why shouldn't they? You want them to send 100s of 1000s of £ and get themselves into debt to buy your house. I'd expect them to invest more time in ensuring that they are getting value for their money- more time than it takes to try on new outfits in the shop or research which TV or computer or oven to buy🙄

It's mainly leaving them to it to look around though. You don't have to be on hand for hours.

Valuation one they just had a quick look from the street and drove off again.

A survey is usually a waste of money ! A report to pick up literally anything and everything that MIGHT need doing. You don’t need a survey to tell you that a window is blown, that’s pretty obvious to anyone with eyes. Or that the back gate has seen better days…
We are honest genuine people who have already reduced our price and been open about what’s wrong with the property (nothing major at all)
So please take your passive aggressive eye roll off my thread.

My mortgage company didn’t even do that. They did a desktop valuation. Computer said it was worth £500k and I was paying £460k,
so computer said yes to my mortgage.

I did have a proper survey done too.

Sometimes they just do desktop survey. I think that means look it up on Zoopla.

Edit: Crossed with above.

I think they’re actually coming out because there is no data on this house on Zoopla, it was bought off the council in 1980 and never been sold until now !

I had one come and he measured all the rooms with one of those laser measuring things.

Yeah I think sometimes they are just needing to double check the house exists 🤣

Ex- mortgage valuation surveyor here.

If you have made any structural alterations or the house isn't traditional construction have to hand the Building regs/ planning permissions/ documents.

If you have a fixed loft ladder get it down for them.

They will be portably be done in 20 mins.

Surveyor here as I type 😬 so nervous he will under value by a stupid amount !

Thank you. I have got all certificates out but he doesn’t want to see any of it he said that’s for the bank..

I would go out. If you’re there they’ll ask you all sorts of questions about things and if they can have access. If you’re not there then they won’t be able to look. One asked me if they could have a ladder to look in the loft because my ceilings were too high for his steps- if i hadn’t been there he wouldn’t have looked.

This was just the banks valuation. He’s gone now, 15 mins!
He did say if the buyers get a survey they would be here 3 hours, so I probably will make myself scarce for that !