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fresher422
Starting Member
United Kingdom
7 Posts |
 Posted - 12 April 2010 : 18:27:12
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| we have decalred ourselves bankrupt and have started paying a IPA which infact is crippling us, our next step is to save our house, I have an estate agent coming round tomorrow to value the property, obviously we need the lower end price, do I tell them what the valuation is for or just act stupid!!! your advise will be brill!!! |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 12 April 2010 : 20:19:03
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Hi fresher
now that you have declared BR the OR will dictate the house sale or you purchasing back the beneficial interest
The OR will initially take the valuation submitted on your bankruptcy petition, then either obtain a desk top valuation or obtain a RICS valuation
This will not normally be until 3 - 4 months after declaring BR
your estate agent valuation will only be required if you intend to challenge the valuation given by the OR.
If the IPA is crippling you the ask the OR how they obtained the figure, state that you are struggling to make ends meet they may or may not review your I & E
regards Richard |
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 13 April 2010 : 09:49:16
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Hi Fresher
I wouldn't tell the estate agent the reason you want the valuation as some agents may charge a fee if you don't intend selling the house - or at least that's what their terms and conditions say - you could tell him that you are looking at options, and would want a quick sale, so would be looking for a more attractive selling price - or something along those lines
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
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do I tell them what the valuation is for
