Forced Sale Valuations

[kallis3]

They will probably use Zoopla so I suggest that you do use a local estate agent who will come out and view the property.

[Bettina]

Hi Kallis, yes I think I will, don't know how Zoopla know how much my house is worth - do they do it based on previous 'sold for' figures do you know?

[Foggy]

Zoopla average out previous local sales to get to a figure. This throws all sorts of different properties into the mix and will generally give an over inflated valuation, by my experience.

Near to me they estimate the values of a street of near identical houses between £186,000 and £217,000, each house having a different value.

[kallis3]

Agree with Foggy. I think it is wrong of Zoopla to just value a house on local sales - some houses are in disrepair and so worth less than others.

[Bettina]

mine certainly is.

[headbanger]

Plus where I live the estate is part private, part ex council houses. Mine is an ex council house

[headbanger]

I think I will see what CF come back with. If they say an extension of 12 months I will ask to see calculations as they don't know settlement figure for secured loan nevermind using zoopla for house valuation.

I will ask estate agent for a quick sale valuation coz I'm getting divorced ( but I'm not getting divorced) to see if that helps my calculation.

[Foggy]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by headbanger

I think I will see what CF come back with. If they say an extension of 12 months I will ask to see calculations as they don't know settlement figure for secured loan nevermind using zoopla for house valuation.

I will ask estate agent for a quick sale valuation coz I'm getting divorced ( but I'm not getting divorced) to see if that helps my calculation.

Warn the wife in case she overhears !!

[headbanger]

Lol. She suggested it ha ha

[hubert]

Zoopla which I expect CF would use massively over-value my house too.

Problem is, neighbouring properties have often been extended and have loft conversions and are great big 5 bedroom houses. Mine is still original and a relatively humble 3 bed.

To value them the same because they are in the same street is a joke!

If my house was worth what Zoopla reckon I'd sell, pay off the IVA and have a long holiday somewhere hot while I decided where I'd spend my thousands...

[hubert]

By the way, I am ex PJG now under CF.

My PJG agreement states I must obtain a valuation. Not the IP...

I suspect CF prefer to run all IVAs identically so they will probably check up on Zoopla without a second thought. But if it's a high valuation I'll be getting my own to challenge it.

By the way, you can go on to Zoopla and customise your home on there to alter the value.

For example, marking it 1 bedroom, no central heating, no double glazing etc... knocks down the value dramatically.

If some mean spirited person had done that to your house's record on Zoopla, how would you know? I mean who said you've even heard of Zoopla?

Just saying...

[headbanger]

I've just done a few online valuations with different sites and they vary by 40k

[kallis3]

Which is why it is probably better to get an estate agent out.

[headbanger]

Is there a way of someone checking my figures without posting exact figures on forum.

[Foggy]

You could post the method with dummy figures --- then you will know if that is correct --- the rest will be down to trusting the maths.