The not-for-profit Residential Property Surveyors Association wants estate agents to tell clients they should commission 'real' surveys and not settle for automated valuations.
Recently Nationwide said it may increasingly use automated valuations, while the Royal Institution of Chartered Surveyors said it was revising its HomeBuyer Report to exclude the valuation element and make it more obviously a survey-only service.
Now the RPSA chairman Alan Milstein is warning: “Buyers have often mistaken the lender’s valuation for a survey of the condition of the property they are about to buy. But with an increasing reliance on desktop valuations, it means that no one with a trained eye will be visiting the property, let alone assessing its condition.”
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While I agree with the sentiment to some extent, the RPSA would say this, wouldn't they?
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