In this episode, Nick shares valuable insights on preparing for a lender's valuation inspection, focusing on two key scenarios: selling a property and preparing for a re-mortgage after renovations. Nick emphasises the importance of presentation and accessibility for sellers, detailing how a clean and organised home can create a positive impression for the surveyor. He also discusses the critical aspects of property condition that surveyors assess, such as structural integrity and core elements like plumbing and electrics. KEY TAKEAWAYS When selling a property, it's crucial to present a clean and tidy home to create a positive impression for the mortgage lender's surveyor. Decluttering and ensuring key areas are accessible can facilitate a smoother inspection process. Surveyors primarily assess the structural integrity and overall condition of the property. Homeowners should address visible issues such as dampness, roof condition, and the state of electrics and plumbing to avoid red flags that could impact the property's value. For property investors preparing for a re-mortgage valuation after renovations, having all relevant documentation, such as building regulations approvals, safety certificates, and warranties, is essential to demonstrate that the work was completed to a professional standard. Providing before-and-after photos and videos of renovations can effectively showcase the property's uplift in value. It's beneficial to create a Google Drive link to share these documents easily with the lender. Surveyors base their valuations on comparable sales in the area and prioritise the lender's security over the seller's profit expectations. Being prepared for a potential down valuation and having a well-documented case can help in negotiating a favourable outcome. BEST MOMENTS "A mortgage valuation is conducted on behalf of the lender, not the buyer. Its primary purpose is to confirm that the property is worth at least the amount you are borrowing." "If you have a new boiler put in, there's your certificate of installation. Windows installed, there's your FENCES certificate." "The surveyor will look for any red flags that could impact the property's value or the lender's security." "The surveyor's valuation will heavily rely on evidence that the renovations are legal and professionally completed." "A surveyor's priority is a safe lending decision, not meeting your profit expectations." The UK’s #1 Property Investing Event – MSOPI Training https://bit.ly/3FqcL4l The UK’s #1 Property Investing Event – MSOPI Training London https://bit.ly/4isD2xs HOST BIO Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations. He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems. Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/