Q&A: Can I claim compensation against a UK property surveyor who wrongly downvalued my house?

Question by brianclay: Can I claim compensation against a UK property surveyor who wrongly downvalued my house?
We recently agreed on a price with buyers for our UK house. Their property surveyor then arrived a day earlier than agreed, meaning that our estate agent was not on hand as originally agreed. He decided to downvalue our house primarily based on a recent sale on the other side of the road. He was not local, and admitted to having difficulties in valuing our house, but felt that our house was only worth £20k more than this other house. (The price originally agreed was £40k more). We appealed this decision, based on the fact that our house had previously been valued at £50 to £60k more than this other one. (The same firm valued both houses). We have other info supporting our case, too. However, I am told that I am unable to challenge this decision, because we are not the surveyor’s client. Only the client (our buyer) can do this. (But why would he?). The client has reduced his offer accordingly, and we have had to capitulate or risk losing our new house. This incompetency has cost us £20k

Best answer:

Answer by b_man
I would suggest getting an up to date valuation from the company which initially valued the property at 50 to 60 k more. If the valuations are miles apart suggest that you would like to take the valuations to arbitration or contact the valuers institute and ask them for advice.

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