Saturday, Aug 25, 2007
surveyors stop and look at houses instead of doing drive buy valuations
telegraph: Surveyors clamp down in the wake of US housing crisis
Surveyors are starting to clamp down on mortgage valuations, as lenders prepare to protect themselves against the risk that house prices may falter and even fall.
Posted by mr crabs @ 12:29 PM (263 views) Add Comment
3 Comments
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1. inbreda said...
what would be interesting to see is figures on number of properties owned by surveyors. I'll bet the are (or already have) offloaded.
2. captain sensible said...
Great news. Loads of surveyors were sued by banks and building societies in the 90s after the last crash - lenders have no loyalty when in comes to recouping their money. If surveyors are playing safe, it doesn't matter what valuation an estate agent puts on the property, the buyer won't get the mortgage unless the price comes down.
3. Ihopeitgoeswithabang said...
Quote - "What to do if your property is down-valued"
Start getting real would be a suggestion.
There was a time when the survey valuation use to be the maximum you would be willing to pay!
It seems most people just see it as a nuisance and obstacle to be rubber stamped and pushed to one side!