Whether you are buying or selling a property, it is likely you will have instructed the professional services of a surveyor.
If a surveyor has given you bad advice on a property valuation or, for instance, failed to spot a defect and you believe you may have suffered a significant financial loss as a result then you may be able to claim compensation.
Surveyors Exceeding the 'Margin of Error'
Surveyors often play an instrumental part in a property transaction. Their expertise is often relied upon for property valuations and making other accurate determinations. Valuation of property is not an exact science. The law provides that if a surveyor provides a valuation in relation to certain property which is more than 10 to 15 percent above or below the correct value, then he or she is likely to be found negligent.
Examples of Surveyors Negligence
A negligent valuation can cause financial losses for buyers or sellers. Negligence may arise when the surveyor:
- Fails to examine appropriate comparables in the locality
- Values on the wrong basis, for instance, potential rather than current market value
- Conducts a "drive by" valuation (when a surveyor does not fully inspect the property)
Can you claim against the negligent surveyor personally?
The law provided that in certain instances you could. But a recent case will now make this more difficult. Read more here.
There are time limits to bring a professional negligence claim. You have 6 years from the act of negligence or 3 years from the date of knowledge
Funding Your Professional Negligence Claim
For many individuals, funding a claim can be a significant issue that causes concern. At Seth Lovis & Co., we can offer our clients a variety of flexible fee arrangements. In certain professional negligence claims we are able to act for our clients under conditional fee agreements. This agreement is often referred to as no win/no fee agreement. Under such an agreement, the client does not have to pay our fees unless you win your case. We aim to find a cost-effective solution that works for you.
Expert London Solicitors for Transactions Involving Surveyors and Property Valuation Negligence
Seth Lovis & Co. provides legal advice and representation with the highest levels of service and professionalism. We invite you to contact our professional negligence solicitors online via email or by phone on 0330 400 5800.
it is wise to seek guidance from a legal expert in the area of professional negligence.
You may be able to bring a claim and recover compensation for your financial loss. At Seth Lovis & Co., we employ a team of qualified professional negligence solicitors who have the understanding and expertise to advise you and represent you on any such claim.
Located in London, our firm advises individuals who have suffered financial losses due to incompetent advice for paid services from surveyors and other professionals. Our solicitors are qualified to handle most types of professional negligence claims. We are experienced commercial litigators who act on behalf of individuals and companies on a range of legal issues.
By closely working with our commercial and property departments, we have developed a knowledge and understanding of the relevant issues involved in certain transactions which in turn enables us to understand clearly the issues relevant to a claim in professional negligence. We understand the duties of the professional in relation to these transactions and can therefore readily identify whether he or she has failed in those duties.