Do You Need a Valuation with Your Survey?
When booking a home survey, it’s natural to wonder whether you should also request a valuation. While we offer both services, it’s important to understand the distinction — and why a valuation isn’t always the most useful tool when negotiating on price.
Mortgage Valuations Are Usually Provided
If you’re purchasing with a mortgage, your lender will arrange their own valuation to ensure the property provides sufficient security for the loan. As this is a standard part of the mortgage process, arranging another valuation through us often means duplicating costs without gaining any extra benefit.
Surveys Provide Stronger Negotiating Ground
A valuation offers a market estimate based on recent comparable sales and a limited overview of the property’s condition. A survey, on the other hand, examines the structure in detail, identifies visible defects, and highlights potential risks such as damp, timber decay, roofing problems, or movement.
These survey findings often give buyers a stronger position to negotiate. This is because they draw attention to issues that a valuation alone might not reflect, which sellers may be more willing to address through a price reduction or agreed works.
Why Valuations Don’t Always Help Negotiations
Valuations are inherently subjective, which is why the industry allows a tolerance of around 5%. On a £400,000 property, that means two qualified valuers could differ by as much as £20,000 and still both be considered accurate.
This tolerance can make valuations less effective for price negotiations. In some cases, it can even work against you — for example, if the valuation is at the higher end of the tolerance range while your survey has identified matters that could reasonably affect the price. In such situations, the survey evidence is often more compelling when discussing terms with the seller.
Sometimes a Valuation Isn’t Possible
If a property shows signs of significant issues such as movement, damp ingress, or suspected timber decay, further investigation may be needed before an accurate valuation can be made. This is because the full extent of these matters must be understood before a reliable market figure can be established.
Our Experience, Your Best Interests
At CJ Bloor, we are not here to dissuade you from arranging a valuation if you feel it is right for your circumstances. Our advice is based on extensive experience, and we have often found that survey findings carry more weight in negotiations than a valuation alone. Our priority is always to act in your best interests. We want to ensure you have the right information to make informed decisions, without spending money unnecessarily.
