The surveyor who could not get in
The application is in and the lender has instructed a valuation. The surveyor's firm tries to book access. The contact number on the application is the vendor's old mobile. The estate agent was not told the valuation was coming. A week passes before anyone realises the valuation has not been booked.
On another case, the valuation happens, and comes back lower than the agreed price. The update sits in the lender's portal overnight. The broker sees it the next afternoon, by which time the client has heard rumours from the estate agent and is ringing in a panic.
Why valuations cause surprises
Valuation access depends on details collected at application, often in a hurry, and on people outside the brokerage: vendors, agents, tenants on buy to let properties. Nobody owns the job of making sure the surveyor can get in.
Results arrive through the lender, on its timetable, and in its portal. Unless the brokerage checks every day, it learns about a down valuation later than it should, and later than others in the chain.
- Access contact details incomplete or out of date.
- Estate agents not told a valuation is being booked.
- Tenanted buy to let properties need tenant cooperation.
- Valuation results sit in lender portals until checked.
- No record of typical valuation timing by lender.
Buy to let and leasehold properties add their own wrinkles. A tenant who has not been warned may not let a surveyor in, and a flat in a managed block may need a key from a porter or managing agent. None of these details are hard to collect, but they are rarely asked for at the right time.
What a stalled or surprise valuation costs
| Problem | Effect |
|---|---|
| Surveyor cannot get access | Valuation delayed, case waits |
| Valuation result seen late | Client hears from others first |
| Down valuation found late | Less time to discuss options before deadlines |
| Retention or conditions not spotted | Surprise later in the process |
A down valuation changes the case, sometimes significantly. What happens next, whether renegotiating, adding deposit or looking at other options, is a conversation between the broker, client and others in the chain. It goes better when it starts early.
The valuation tracking we build
- At submission, the broker records access contacts: agent, vendor or tenant, with phone numbers and any notes, prompted by the property type.
- When the valuation is instructed, the agent or access contact receives a short heads-up that a surveyor will be in touch, if you choose.
- Instruction, booking and result are captured from lender emails, or from lender data routes where offered, and written to the case.
- A valuation that has not been booked within your chosen time is flagged for a call.
- When the result arrives, the broker is alerted immediately, and the valuation figure is compared with the purchase price, with any shortfall, retention or condition highlighted.
- A board shows all cases at valuation stage, with those waiting longest at the top.
The alert tells the broker what the valuation says. What to do about it is for the broker and client to decide.
After it is running
Surveyors get access sooner because the right people were told. Brokers hear about results as soon as they are available and call the client first. Down valuations are handled calmly, with time to talk. And the brokerage builds a picture of how long valuations typically take with each lender, which helps set clients' expectations.
Estate agents notice as well. When they hear from the brokerage that a valuation is on its way, with the right access contact, their sales progressors stop chasing and the chain has one less reason to wobble.
Do valuations catch you out?
- Valuations are delayed because the surveyor cannot get access.
- Estate agents are not told when valuations are coming.
- You learn about valuation results a day or more late.
- Clients hear about down valuations before you call them.
- Nobody tracks how long valuations are taking.