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Surveyors Are Stifling Property Market Recovery

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http://www.timesonline.co.uk/tol/money/pro...icle6463460.ece

lol lol lol..................................cant believe what im hearing lol :o

I wonder how someone decides a property is undervalued?

Oh , I see , its no longer overvalued at 2007 prices!

WOW WHAT GOOD NEWS THIS IS.

Needs to be read with this thread:

Homebuyers left High and Dry as Mortgage Offers Withdrawn

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Goord grief even an estate agent could get within 20% of real market value !!

Mmmm not necessarily so , a BUYER might get within 20% of real market value. Buyers are offering 25 - 30% below peak . :rolleyes:

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the quote is incredibly brainless.

...Surveyors are making some very defensive valuations which are significantly below prices which have been agreed between seller and buyer

that is the whole point of surveyors acting on behalf of lenders. their job is to protect lenders from a situation in which they find themselves, in extremis, with a reposessed asset that's worth less than the money they lent. how much money a buyer wants to borrow is irrelevant - protection from the nasty side of this sort of principal-agent is the exact reason, indeed the sole reason, why lenders employ surveyors.

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