Ok we are at 4 1/2 yrs into our IVA with freeman jones....the dreaded house valuation. I spoke to a lady today who said the value has come in around £12700,we oew about 95000 on mortgage....have a feeling this will go on for another year but also feel the housr has been over valued as a couple on our road have sold for aroun 119000 recently...what do i do? Just waiting for review at the end of April for all correct figures to come together. Can you question the value without upsetting the apple cart!!! Have spoke to one estate agent and they want £50+ for a non sale valuation.......have sailed through are IVA it's our mess to sort out but this is the part i have been dreading....thanks.
IVA STARTED OCT 2010,LAST PAYMENT 18TH NOVEMBER 2016. COMPLETION CERTIFICATE ARRIVED 17TH DECEMBER 2016.
WE ARE DONE
Yes, you are free to question the valuation, this has been done before ( and will be done again) with some success. What does your proposal say regarding obtaining valuations ? Some say YOU have to do it in any case.
Ask FJ how they arrived at your valuation -- possibly a drive by, more likely some computer app, neither of which will reflect the true value of YOUR property ( which hasn't been majorly maintained for over 4 years).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Ask for a valuation based on a "forced sale" or 3 month sale" basis. This will work out 10-15% lower than market value and is generally accepted in insolvency world.
I'll be getting mine next week and if I have to pay will try to get it back as cost within IVA.
Hi Winter_blues...do you mean you are getting a estate agent to do your valuation? If so would one valuation of that sort be enough or would we need 2/3, could probably affoerd one.......how do you get the money back.
IVA STARTED OCT 2010,LAST PAYMENT 18TH NOVEMBER 2016. COMPLETION CERTIFICATE ARRIVED 17TH DECEMBER 2016.
WE ARE DONE
My I.P and the original proposal only state ONE valuation and mortgage redemption statement. If you speak with your I.P the costs should be covered within your IVA. My I.P will reduce my monthly payment.
We are at the same stage as you, our house was valued online, and the equity was calculated at £5131, just £131 over the £5k threshold, our IP has said it is ok for us to go ahead with an independent valuation, so we are going to approach a local estate agent soon. Good luck
getting there ....
Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
hi when i was getting my valuations from estate agents, i didnt pay i just told them we were thinking of moving to Australia and needed a quick sale valuation, had no problems with obtaining a valuation, i had equity and ended up paying another year, but after 5 years this 6th year has flown by only 2 payments to go.
