These are primarily carried out to establish the market value of your property and are based on a limited inspection only.
This is normally organised by your mortgage lender. They send a specialist to value the property to determine whether it is worth the amount you have negotiated, and whether the mortgage lender should give a mortgage on it. These can vary from ‘drive by’ valuations to a more in-depth inspection of the property.
You should note that the valuer is only concerned with problems that might affect the protection of the mortgage lender’s loan. The Mortgage Valuation is not obliged to reveal any structural problems that need fixing. The lender simply needs to know that they can recoup their loan, if needs be. There may be problems with the property but they will not appear in the valuation report.
Contact us now to book a Valuation Report