Home Valuations

[BrassicLintus]

I've received a letter from the OR regarding the BI in my home. He says to get a written valuation and send it to him. Easier said than done!!!!! All the estate agents I've contacted are willing to carry out a free valuation but they won't put it in writing!!!!! [:(!] Even though I've said I'm willing to pay for it. Anyone any suggestions? I live in the Cardiff area, so does anyone know any estate agents that will give a written valuation? Can I even do one online? Many thanks.

[Sadsack]

Valuations on line tend to value the property much higher than it actually is on the open market. I searched for a valuation on an on-line web site, and it came back with a valuation £75K more than the estate agents. Be careful!!

Sorry, I am at the other end of the country so cannot help!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[BrassicLintus]

Thanks for the warning Sue!!! Would online valuations be acceptable to the OR as his letter says a valuation "by an independent valuer or agent"?

[jpj]

Get the yellow pages and look up "surveyors and valuers" under "S" !

just ask for a straight forward valuation..none will do it for free but im sure if you pair them off against each other you will get a better deal )

[Sadsack]

No too sure but I guess if its the only way that you are able to get a "written" valuation, perhaps he/she will. You could ask an estate agent to come in and give you a valuation for selling purposes, ask them to leave the proposal for you and your husband to peruse at your leisure and then you will have something in writing!! Sneaky, I know but needs must.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[coco]

Hi What i did when i was required to obtain valuations was that i asked the estate agents to put it in writting as i was seeking a number of valuations and when i recieved all i would make my decision on who i would use to sell the property etc other wise i was looking to pay £125 per valuation if i had told them the truth as to why i need it done. Dishonest i know but when needs must unfortunately.

view my blog http://coco.blogs.iva.co.uk

[Oliver]

Generally an Estate Agent will give you a written valuation for sales purposes.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[jpj]

The only trouble with getting estate agents to value your home is they want the rights to sell your home so value it higher than it really is ...if you get 3 quotes and one claims your house is worth 2ok more than another you would naturally put your house up for sale with the higher valuation! this obviously works against you when in an iva etc trying to work out your houses true value.

A surveyor will give you a "real" price as hes not trying to get a sale out of you...

so many times i have put a house up for sale and had to reduce it by 20 to 30k because the agent was a little over optomistic pricewise that day!!![:(!]

[Oliver]

It's a very good point Jpj. Asking for a quick sale valuation may overcome this problem though as the figure provided here should be more realistic.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[MelanieGiles]

Hi Brassic

Peter Alan will usually do this free of charge - but you will need to indicate to them that there will be a potential sale at the end of it. I suggest that you tell then that you are bankrupt, and need a forced sale valuation, as this is the basis that the OR will also work on.

Didn't you get a property valuation done for your proposed IVA? Surely that would suffice?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[ray_a]

Agree Melanie I did that for our IVA and asked 2 Estate agents to come around.

They did that and then had the problem of telling them that we were allowed to keep the house.

Another way is to look at Right Move web site and look at comparable properties in your area!

[pippa]

BrassicLintus

I have had 3 valuations in total (1 was for the IVA 2&3 for the OR they only asked for one so I have held I back in case I need another for the negotiations).
When they arrived on the appointment dates, I simply said that due to personal reasons I needed a realistic valuation, an honest figure taking into account the work outstanding on the property and they all said fine and no problem to put it in writing.

Book an appointment first and then ask for it in writing during the visit, just say you are considering a few companies etc. Darlows were the quickest with putting it in writing and I didnt pay for any of these, which you shouldnt as they are only for advice they are not a legal document.

Pippa

[pippa]

Melanie

A forced sale valuation? how would this affect the price/BI?

Pippa

[MelanieGiles]

A forced sale valuation usually values the property in its worst state and assumes that a sale must complete within a limited timescale - this can often be the case under bankruptcy proceedings, when debtors might not pay their mortgage payments in the knowledge that the property is being taken from them anyway, or look after the property.

This is a recognised RICS method of valuation, so please don't think I am encouraging you to do anything dodgy!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[pippa]

Thanks Melanie

No intention of doing anything dodgy dont worry!!!

I assume the OR will have an independant valuation, (or not?), does anyone know if this is carried out by an estate agent/ surveyor/someone inhouse, no real info received from the OR, I take it they dont just work on the valuation sent in by the BankRuptee?

Pippa