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Valuer said house worth £0

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  • Valuer said house worth £0

    Just wondering if someone has been in our situation and what was the outcome.
    We are selling our property which we bought 4 years ago - with no major issues detected at the time.
    Our buyers started their mortgage process about 2 weeks ago and the bank sent their valuer 2 days ago. We received a call from the estate agents today saying they were refusing to value the house, valuing it £0, as detected major rotting problems - didn't say were - and demanded a damp and timber survey. The buyers refused to pay for the survey so we have organised one for next week.

    I find this situation so odd because surely if there were major rotting issues we would have noticed ourselves? 3 weeks ago we showed the buyers the loft and neither us nor them saw anything (I am assuming it's in the loft because surely anywhere else we would have spotted ourselves). Also my husband, who was in the house with the valuer, said he wasn't in for more than 15 minutes and basically only had a quick look around - didn't even went to the attic properly, just popped his head in quickly.

    I am now concerned that the survey will bring something - the house is 65 years old - and the value will make a big deal out of it and will either down value our property or refuse to change his valuation from £0. I mean I have seen properties in Houses under the Hammer with barely any walls being sold, so why is ours not worth anything?!

    Any advise welcome, thanks