| Comment | one thing I was told (not a solicitor, so take with a pinch of salt) is that surveyors can land themselves in trouble if they overvalue, because then the mortgage lender can overlend compared to the actual value they can recoup if they have to repossess, and I think there may have been legal cases to this effect.
This highly incentivises surveyors to be conservative and undervalue, and so is the reason why HR values are seen as a kind of 'minimum' actual market value.
If zoopla/rightmove etc have recent sale values for similar properties in the same street, this is a much better guide to market value |
|---|