Have had a search on this topic but none of the previous threads seem to cover this specific point...
Who usually foots the bill for the property valuation conducted on behalf of the lender ? The reason I ask is that my lender is asking me to pay for this valuation/survey... which struck me as odd. Surely the lender would want their 'own' people conducting the valuation ?
I will be having my own survey done (by a certified person) but I'm willing to bet that this will not suffice for the lenders requirements. This will leave me having to pay twice for a similar service (although I am aware that a lender valuation/survey isn't as detailed or expensive as a 'full' survey)
Has anyone else faced this scenario ? Do other lenders pay for the valuation - if so I may use this as 'ammunition' in discussion with my lender..
Thanks in advance for any feedback
Who usually foots the bill for the property valuation conducted on behalf of the lender ? The reason I ask is that my lender is asking me to pay for this valuation/survey... which struck me as odd. Surely the lender would want their 'own' people conducting the valuation ?
I will be having my own survey done (by a certified person) but I'm willing to bet that this will not suffice for the lenders requirements. This will leave me having to pay twice for a similar service (although I am aware that a lender valuation/survey isn't as detailed or expensive as a 'full' survey)
Has anyone else faced this scenario ? Do other lenders pay for the valuation - if so I may use this as 'ammunition' in discussion with my lender..
Thanks in advance for any feedback