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Simpleton
Starting Member
4 Posts |
 Posted - 20 January 2010 : 13:20:49
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Hi
Based on the information I have already recieved off the nice people on here, I have decided to go with a valuation from a surveyor, it will cost me 130 pounds , but if it helps reduce the equity in my home( as it's a truer valuation) I figure it's worth it. I currently owe 88,500 on my mortgage with aprox 3k of redemption penalties. I bought the house for 98 in 2006 , so hopefully it's taken a massive hit and is worth a lot less.I am going to be there when the surveyor comes round to value the house , do you think it's worth me telling why I want the valuation and that it's a valuation for a forced sale, also thier is a bit of damp on the walls and a hole in the floor was thinking about pointing those out too, or do you think I should just let him get on wioth his job and keep my fingers crossed , thanks |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 20 January 2010 : 13:26:23
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Hi,
I suggest that you try some local independent estate agents and get a valuation for free.
I assume this is a RICS valuation? All due respect to the RICS, you do not need to spend that money!
All you need to say is you want a written valuation as you are looking to re-locate to another part of the country. You will then be able to do the sums and inform the OR.
You will then be able to look at the BI and arranging for it to be purchased for £211.00 plus a nominal £1.00 or if there is equity a small contribution wil have to be made.
Is the property in joint ownership?
Best regards, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
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Simpleton
Starting Member
4 Posts |
Posted - 20 January 2010 : 14:06:49
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Hi
No the property is in my sole name, I appreciate the advice , but won't the estate agent over value it, even if I ask for a quick sale. I was under the impression that a surveyors valuation would be lower and as I think I may be borderline as to whether thier is equity or not in the property. |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 20 January 2010 : 14:25:06
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Hi again,
The estate agent should not overvalue a property, (if they are looking for business)in my view.
It may be worth trying that first of all - pick two or three and not the large corporates - one of the small independents - they are a different animal I can assure you. Emphasise it is for a quick sale and you will appoint them, (if you decide to go ahead), on a sole agency basis.
I can only speak from how I practised when trading - I may have been the exception to the rule!
Like employees of HMRC, most people hate estate agents!! (Joke) If it saves you a fee, then that is a positive, in my view.
Good luck, whatever you decide to do. regards, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 20 January 2010 : 19:15:09
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as richard has said you will probably be better with 3 valuations from estate agents and if they know you want a very quick sale for relocation purposes they will value it to ssell quicklly ie. A cheaper price
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
Edited by - chester2005 on 20 January 2010 19:20:01 |
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House Valuation - For Beneficial Interest
