Question
valuation reports shows essential work needs doing?
we have had a basic mortgage valuation for our proposed move the report shows essential work is required as follows: 1.upgrade electrical installation 2.repair felted flat roofing as necessary 3.upgrade internal plasterwork to ceiling areas. my question is are these factors reason to pull out of the sale? are they serious (especially the electrics)? the valuation of these repairs is estimated at £2500.00
3 weeks ago - 1 answers
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It sounds like this is a VA loan and the valuation report came from the appraiser. Did you get a home inspection. If NOT then you need one ASAP. If this is from your inspector and I misunderstood then call the inspector and go over this report. I would be concerned about the electrical. BUT before you panic have a licensed electrician give you a quote and then you will know where you stand.
by William
3 weeks ago
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