Real Estate

You Can Renegotiate After Getting a Valuation Report

Receiving the homebuyers report after a property valuation is something most homeowners dread. They might have positive expectations and the results could be the complete opposite. After all, surveyors are experts. They have been doing this job for a long time. They know exactly what to look for. They can spot mistakes or defects that may not be visible from an ordinary person’s perspective.

If the day arrives and the worst happens, you need to remain positive. Don’t let the report prevent you from doing what you initially wanted to do. Renegotiation of the survey report can still be done.

You can accept the results

The easiest way out is to just accept the results. You might have expected the results and you have no other choice but to move forward. The valuation might be far lower than expected in the report, but you know the defects in the property and the value given will be pretty accurate. It is also possible that the amount is close enough to the expected results. It is easier to accept if this is the case.

Make clarifications

There are instances in which details on the report are difficult to understand. You might want to clarify with your surveyor first before having any negative reaction. If you have fully understood certain details, it might be easier for you to accept it. You can ask for a better valuation on the property if you think there was misinterpretation or if you have fully clarified any mistake. This might not happen right away, but it is still possible.

Do what is recommended

This is the best option. Your surveyor is willing to change the value of the property if you have proven that the recommendations were faithfully followed. You may also ask which changes should be prioritised to increase the value of the property. There might be simple repair issues that won’t cost a lot. If you can repair them immediately, do it. Other problems that might require a huge amount of money should be thought about carefully. If your surveyor tells you that the return on investment is pretty great, you should continue the plan.

Stay positive

Even if the report did not come out the way you wanted it, you should still remain optimistic. The report is not permanent. Changes can happen and the value could easily increase during the next property survey. As long as you hire the best building surveyor Essex has to do the job, you can expect a quality report. For commercial establishments and buildings, check out chartered surveyors Essex offers. You need people who have years of experience in the industry.

You want someone who is honest in doing the survey and will tell you exactly what to do to improve the valuation in the report.


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