We were made Bankrupt in 2011 & have just received a letter regarding the valuation of our property. Should we get a market value valuation or or a forced sale valuation for this purpose?
The official receiver will get their own valuation too. You will need to get a couple of local reputable estate agents to give you a valuation based on how much they think you can realistically get for the property. You can also go online and see what similar properties have sold for just for your own records.
The official receiver will get their own valuation too. You will need to get a couple of local reputable estate agents to give you a valuation based on how much they think you can realistically get for the property. You can also go online and see what similar properties have sold for just for your own records.
Hi Viki The letter from the OR estimates there is £17,000 for me & my husband totalling £34,000. We think that there maybe some equity but not sure if it is as much as that. Will it be based on a market value or forced sale valuation? Zoopla estimate for our property is £222,000 & we owe approx £170,000 on our mortgage so looks like there is potentially a lot of equity. I would be grateful for any advice
Sign up to Brendan McCloughlins property price website (it's free) and it will tell you exactly how much houses have sold close to you.
Zoopla tend to err on the expensive side when doing valuations.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
That's what I did - said I had the opportunity of a job elsewhere in the country and they did a free valuation for me.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
Should I get a market property valuation or a forced sale valuation
Posted - 29 August 2014 : 00:58:02
