An answer to 'My survey says the property is overvalued'
Answer
This is known as "downvaluation" and is quite common. Your surveyor may have done so for good reason or because he or she is not familiar with the market or location in which you are buying. For more information read all of What A Property Survey Really Means.Search Results for 'survey' in the Property Buyers Guide
The Balance of Power
...derstand the vendor's motivation for selling and then, market conditions aside, you will know if it is wise to cause waves after a bad survey balanced against your particular desire for that property. Far too many buyers try to renegotiate only to find the papers are withdraw...http://www.zuil.co.uk/property-buyers-guide/buying-property_the-balance-of-power.php
Why Vendors Choose Bad Estate Agents
...ng way to go between agreeing a sale price and an exchange. The solicitors must be chased and managed, the buyer must be educated, the surveyor must be kept happy, the lender must be pursued and the process must be bought to a speedy conclusion. None of these things will happ...http://www.zuil.co.uk/property-buyers-guide/buying-property_why-vendors-choose-bad-estate-agents.php
Why Vendors are Poorly Prepared
...nd rent receipts Any deeds of variation Optional but a big bonus are: Past or recent surveys Recent quotes for works needed We are all human and it is perfectly feasible for the vendor to ha...http://www.zuil.co.uk/property-buyers-guide/buying-property_why-vendors-are-poorly-prepared.php
Legal Matters in Property Purchases
...ely exchange so that everyone is locked into the deal. This chapter looks at the essence of what is and isn't important outside of the survey and the options you have but are not always offered. Your finance company who will provide the mortgage basically asks the questio...http://www.zuil.co.uk/property-buyers-guide/buying-property_legal-matters-in-property-purchases.php
What a Property Survey Really Means
http://www.zuil.co.uk/property-buyers-guide/buying-property_what-a-property-survey-really-means.phpHow to Really Make an Offer on a Property
...thdraws his property from the market although they may not be prepared to do this until you have instructed a solicitor and paid for a survey (i.e. spent some money yourself to show you are serious). Paying More Than the Asking Price No one ever starts by making an...http://www.zuil.co.uk/property-buyers-guide/buying-property_how-to-really-make-an-offer-on-a-property.php
Time Costs Deals
... but for one overriding fact that any good estate agent will tell you, "Time costs deals". Removing all the pitfalls of legalities and survey there are factors far outside the actual transaction that will affect the chances of you getting that dream property. They are the thi...http://www.zuil.co.uk/property-buyers-guide/buying-property_time-costs-deals.php
Understanding the Property Market
... very same media. It would be interesting how many of these advisors would be interested in knowing what Estate Agents, Solicitors and Surveyors forecast for the industries that they worked in! How the market acts is actually surprisingly simple, but it is perhaps this simpl...http://www.zuil.co.uk/property-buyers-guide/buying-property_understanding-the-property-market.php
The Property Buying Process in Theory
...roperty and the vendor agrees to definitely sell it. Up to this point the sale is only agreed subject to contract and often subject to survey. Subject to contract means you agree to buy the property only if what you have been led to believe is true. In other words you may ...http://www.zuil.co.uk/property-buyers-guide/buying-property_the-property-buying-process-in-theory.php
Making House Price Predictions
...predictions, not ones that they update during the year. The 'Useless' Property Experts The Royal Society of Chartered Surveyors (RICS) RICS system for predicting the future would have most statisticians turning pale. They simply ask their members "how t...http://www.zuil.co.uk/property-buyers-guide/buying-property_making-house-price-predictions.php
Choosing a Conveyancer or Solicitor
...within four weeks! The traditional solicitor will argue that if anything were to go wrong at any stage he has saved you money. If your survey is a problem, for example, at least you will not have paid for local searches or his time to look at the contract. It's a contradictio...http://www.zuil.co.uk/property-buyers-guide/buying-property_choosing-a-conveyancer-or-solicitor.php
Sorting Out Your Mortgage
...e borrowing from get them to credit check you so that any problem issues can be resolved now and you can move straight to organising a survey once you find the right property Only choose a loan from a lender who can process your application quickly, you can always r...http://www.zuil.co.uk/property-buyers-guide/buying-property_sorting-out-your-mortgage.php
Who to Trust When Buying Property
...Choosing a Solicitor or Conveyancer) The buyer does trust their surveyor even though the surveyor has a vested interest in the sale not going through. (see ...http://www.zuil.co.uk/property-buyers-guide/buying-property_who-to-trust-when-buying-property.php
Search Results for 'survey' in Property FAQ
What are the different types of property survey?
My surveyor has put a retention on the property value
My survey says the property is overvalued
My survey says the property has a damp problem
My survey says the property has problems with the electrics
My survey says the property has problems with the roof
My survey says the property has problems with the plumbing
My survey says the property has subsidence or structural issues
My survey says the property needs X thousand pounds worth of work done
My surveyor has put a retention on the property value
My survey says the property is overvalued
My survey says the property has a damp problem
My survey says the property has problems with the electrics
My survey says the property has problems with the roof
My survey says the property has problems with the plumbing
My survey says the property has subsidence or structural issues
My survey says the property needs X thousand pounds worth of work done