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sal
Starting Member
United Kingdom
1 Posts |
 Posted - 06 December 2009 : 17:32:35
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| After being declared bancrupt in october 09. I had my telephone interview with the OR 1 week later this I thought was very quick. I asked if I needed too get a valuation of my property he said no they would do a drive by and ask my mortgage company for a valuation. 2 weeks later I received a letter asking to get a valuation from an agent or valuer. I got two valuations which cost me £60 each money I did,nt really have. I sent them to the OR they have now wrote back saying the valuation have to be RICS registered only a chartered surveyor is acceptable. This costs money that I don,t have, are they allowed to request this and put me under tremendous financial strain. They have also requested that I get confirmation from my mortgage company to say that they are happy for me to stay at the property. I spoke to the mortgage and they have said its not for me to obtain this and have never had a bankruptcy contact them before asking for such information. Is this a normal procedure? Any information would be a great help |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 December 2009 : 18:31:35
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Hi sal
ask an estate agent for a distressed sale valuation for your property
check and print off some of the valuations of surrounding properties from a web site (I used ourproperty.co.uk) that is all the RICS surveyors do .... oops watch the flurry of postings from qualified RICS surveyors.
have not heard that the valuation must be from qualified person, however each OR region is different
good luck Richard
good luck |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 06 December 2009 : 19:31:32
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Hi Sal,
Sorry to hear of your frustrations around valuation.
Many estate agents are RICS qualified - look at their letter heading/website - that may be a way to overcome the ORs requirement.
I am not sure that the OR can stipulate that the valuation is RICS - they have a lot of power and it seems discretion on matters so if they say it has to be a RICS qualified, then maybe that is what it must be.
As Richard has said, many estate agents simply drive by and look on sites like Rightmove to assess value - I can say with all honesty, when I was in practice as an estate agent, I did a real valuation - I am not RICS, (did part of the exams when I was younger and changed to a different professional qualification)...
Valuation in my view, is an art and not a science - and very often a subjective judgement... (I should not say that really).
Back to the insistence on RICS see what you can get for free from an independent RICS estate agent - do not go to one of the corporates, they are more likely to charge - use your charm on them!! It will probably work!
Whatever, good luck to you and post back with any update, Richard
"There are no problems - only solutions..." |
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After being declared bancrupt in october 09.
