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T O P I C R E V I E W
john56
Posted - 04 April 2009 : 21:47:57 i have a house worth £250000 market value i have checked 40 houses in the post code and the valuation rings true the receiver owns 50% equity £95000 the house is not selling can they force me to drop the price 10% and if i disagree force a sale under market valuation
3 L A T E S T R E P L I E S (Newest First)
John
Posted - 05 April 2009 : 21:31:07 Hi john56
have you looked into the situation regarding equity any further, as it would appear there is a sizeable sum of equity available to be claimed by the trustee?
I'm not clear if there is £95K equity or £190K equity but either way it is not to be automatically assumed that your interest is worth 50% of the estimated equity figure.
There are all sorts of situations which could, if evidenced, safeguard a larger propertion of the equity than you may at first realise. Has the property ever been remortgaged since you first purchased it and if so what were the funds used for?
If you would like to discuss this particular issue, a 15 minute conversation may, in the right circumstances, lower your potential losses. The telephone advice is free naturally.
Just let me know via the forum and I'll gladly give you the contact details.
John White England Jackman & Spacey
Reviva UK
Posted - 04 April 2009 : 23:02:39 Hi
The official receiver can force a sale of the property unless a third party can come up with the funds through remortgage etc.
The value of the property is what will be achieved in these strange times rather that what other houses are for sale at.
Posted - 04 April 2009 : 22:50:18 Welcome to the forum Sadly i'm not 100% sure on your question but i'm sure an expert will be along to help out soon. Alternatively you could contact one of them through the link on the left hand side of the page
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
