Hi I am trying to sell a steel framed house in Deanery gardens,Braintree.Three estate agents have valued it atg £200,000 but even on settling at a price of £185,000 it was valued by two different surveyors acting upon lenders instructions to £165,000. Agents can hardly believe it as no way can you buy a semi detached three bedroom house with garage any way near to that price. This has scuppered two sales. Can you advise what can be done,Regards Ron
Hi Marc,Thank you for your comments.I have lost the name of the first Surveyor but I know he was acting of behalf of Santander.The second Surveyor was Mr.Andrew Ford of Connells Survey & Valuations.He also did a homebuyers survey, which according to my Buyer showed only two problems.One a cement asbestos tank in loftthe other a faulty light fitment in the bathroom.I have tried to contact him but have had to leave a message on his answerphone to which he has not replied.Do you have a facility of speaking to him on my behalf and of BISF.His phone number is 07920 411399.I can find no comparisons of sales of BISF properties in this locality.Your help would be appreciated,Regards Ron Berry
Frankly £165.000 or even £185.000 is a ridiculously low valuation for a BISF property in the Braintree area.
As you know, the surveyor will send a report to the lender stating what they believe the current market value is. I would be very interested to see a copy of each survey to ensure that their assessment of the building is correct. I often see properties that have been wrongly assessed and containing incorrect information.
If this is the case you will be able to challenge this decision. You should also obtain as much information as you can regarding any current and past sales in your street and the surrounding roads nearby by if you wish to argue your case but first I could really do with seeing those surveys.
Can you obtain a copy of each survey by any chance Ron?
Can you also let me know who the lender(s) are?
You can send copies to [email protected] if you wish.