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Property valuation

Ecoco85 · 2014-04-11 19:00:31

Hi all, Just wondering if it matters that the estate agents selling the house are also the ones you pay to value the property for you for your mortgage application??

11-04-2014 7:00pm

#1

Ecoco85

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Hi all,

Just wondering if it matters that the estate agents selling the house are also the ones you pay to value the property for you for your mortgage application??

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Comments

#2 11-04-2014 7:43pm

colm_c

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I'd imagine there would be a conflict of interest.

Best checking with the bank though, as they'll ultimately need to sign off on the valuation.

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#3 11-04-2014 7:45pm

L1011

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Banks are unlikely to accept a valuation in such a case. They may also not be an accepted valuer for the bank to begin with - they should provide you with a list.

In my case, the two acceptable valuers nearby were the EA I was buying from and an independent solo one; I was effectively instructed to use the latter.

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#4 11-04-2014 7:46pm

Steven81

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You have to have an independent valuer

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#5 12-04-2014 9:31pm

Trish56

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Estate Agent would be aware that they cannot do valuation when they are selling the property. Lender will give you the list of valuers on their panel and you select from same.

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