Survey/Valuation delays?

[Benny Saltstein]

Currently selling a vacant residential property and the buyers have been given huge lead time of around 4 weeks for valuations and a Homebuyers report.

Is this the new norm when its being organised through a lender (Nationwide in this case). The EA assures me it is but I had a Homebuyers report done privately in a few days back in January.

Anyone else experiencing the same?

[Sarnie]

Yep, normal, particularly for Nationwide.

Is the property in the SE? That increases the lead time.

Also, the lead time will be longer if they are instructing a HomeBuyers Report as the surveyor needs a longer time slot in his diary to do the valuation plus the HomeBuyers Report.

If the clients were to instruct an independent, as you said that you did, they could get it done in a few days, but if they are instructing it via the lender then it gets panelled out to surveyors that they have on their books, but as there is only a small number of them, the leadtime can be quite long if the property is in the SE and they also want the Home Buyers Report.

[Benny Saltstein]

Sarnie said:

Is the property in the SE? That increases the lead time.

Yes, it's the SE. There's no chain on either side fortunately but it must be hell for those that are in one.

[Sarnie]

Benny Saltstein said:

Yes, it's the SE. There's no chain on either side fortunately but it must be hell for those that are in one.

In the SE there is a huge area, with huge demand, covered by a small panel of surveyors.......and yes it's a nightmare for those in a chain!