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No Charlotte,I am asking him to advise/liaise with me on the project and set a finished valuation based on what we discuss. i.e. mid-range kitchen,extra bedroom at 5x4 with en-suite,no swimming pool,large pergola etc. If all finished to high standard,this property in this area will enable him...

Why not hedge your bets and renovate with a degree of certainty?

This method would be an excellent tool to use if you are planning to hold the finished product.

Invstor,estate agents opinions carry no weight with the banks and some are prone to telling you what they think you would like to hear to secure your business. Vaughan,I am trying to eliminate the guess work by paying a valuer a fee to advise/liase with me to agree to a pre-determined final...

Thanks for that sop,that explains the process very well. Back to my original point though which was; why should we not employ the services of a professional valuer to conduct a feasibility study on the value of a proposed renovation advising on how to achieve top dollar and have that accepted...

Sop,how can this be? Surely a property is worth what it is worth and should be valued accordingly.

Rolf,how are they managing risk by not accepting a valuation that we have instructed to be undertaken by a professional valuer which they regularly deal with? It sounds to me as if they are worried that we may be able to forge a relationship with the valuer to produce a more favourable outcome...

Any product,property or otherwise,should be able to be correctly valued by a professional on a given day with a small margin of error accepted. To accept a lower price is the right of the seller dependant on their circumstances but the true value of the product should remain the same.

Why would the bank not accept a professional valuation from a valuation firm that they regularly do business with just because it has been carried out at our instruction and not their's?

I hear what you are saying Scott,however in theory a property should be worth 'x' amount on a given day following valuation by a professional and any "instructions"should not affect this.

Scott,surely a valuation by an independent,professional valuer should merely be based on what the valuer deduces based on comparible sales,size,condition etc.....

Rolf,could this problem be overcome by only approaching lenders that have our valuer on their panel? A sort of reversal of the current process,why would the banks not accept our valuers appraisal?

It has occurred to me that most people set out to add value to a given property using various amounts of research/due diligence to arrive at their perceived profit margin. Valuation firms advertise feasibility studies as part of their services,so why not involve a valuer from project conception...