I have just had the letter from the OR with their demand for the cost of my BI in our house. It's a bit annoying because back just before my BR in April I got a surveyors valuation that put the value of the house at just a shade below the amount of our mortgage. The OR took so long in processing things however that the original valuation went past their time limit and they asked for an update. The surveyor did a new letter but added £5000 to the value! This means that the OR is now asking me for £2500 as my share. I am not necessarily complaining about this (the surveyors valuation is fair) but I was just wondering - the letter says that if I want to buy the BI I should provide a written offer. Does this mean that I can offer to pay less than the amount they are asking for? If so, what criteria should I be considering to put my case forward? I have major central heating problems and can get a letter from a heating supplier to say that the boiler is "beyond reasonable repair" and needs complete replacement. Would this be something they might consider as a reason to assign a lower value? I realise it is difficult to be definite about anything but any suggestions or experiences you can share would be appreciated. Many thanks.
The OR normally deals with a 'quick sale' valuation, is this what the surveyor provided? If not you can contact an Estate Agent and get them to provide a 'quick sale' valuation as this will normally be about £10k less than the normal 'for sale' valuation.
Tell the Estate Agent that you are taking up new employment in a different part of the country and need to sell the property quickly so the valuation should be less than the property is worth.
Offer to OR for beneficial interest???
Posted - 01 October 2010 : 13:25:03
