Getting a house valuation ? Providing documents for end of IVA ?

[Kate.c]

Hi !
We have 3 payments left of our Iva and have been asked to get a valuation of our house. Will we be expected to pay for this as having phoned around local surveyors it seems to cost about £300 ?
Also, will we be expected to provide bank statements at the end of our Iva or any other documentation ?

[relieved33]

Some IPs will allow you to pay for the valuation fees from your monthly payment so ask them.

We have recently made our last payment and had to provide all documentation as a normal annual review including P60s, payslips, bank statements etc.

[Til]

We emailed a couple of local agents and told them we were thinking of selling and could they please come and give us a written valuation. Both did it for free.

[Struzzo39]

OO thanks for that til. What reasons did you give? I hate lying but I couldn't for shame tell them the truth

[dancer]

We have had the first of our official valuations today - 85% of LTV minus our outstanding mortgage leaves us in negative equity so another valuation of a similar value & my IVA should end in February!
We used a local Estate Agent - no questions asked, just said we were considering moving & wanted a valuation based on a quick sale.
Just a word of warning..... beware of online valuations (Zoopla etc), Zoopla values our house @ £46,000 more than the Estate Agent as it doesn't take account of the hole in the roof, windows that need replacing, repairs required following a garage fire or the fact that the house floods every time we have a heavy storm!

[country girl]

Payplan offered to arrange my valuation for me and said the cost would be taken from my payments. The valuation was done by the same firm as the outset. Surveyors do tend to give a lower valuation than estate agents.

[Til]

Lol Struzzo39 I hate hate hate lying myself too but we had no choice as our IP had overvalued our home using an online valuation so getting the estate agents in was our only choice to prove we were in fact in negative equity.

So here was what I told them:

I said a distant family member had unexpectedly died and left a house between me and other family members and it was possible that, with a quick sale, we would be in a position to buy out the other family and move into this 'better' house. I also lied and said we had tonnes of equity in our house (total lie) so I just wanted an very honest valuation as I wasn't worried about generating enough from the sale and wasn't worried if it was realistic.

Lastly I used the cover story to explain why the house was in such disrepair and why normally had we been planning to sell we would have done it up a bit (after 5 years in an IVA there are lots of things falling apart!) but that as the fake inheritance was sudden we hadn't planned for this.

I also asked for the valuations in writing so that I could show them to family to proceed with any move.

To date this is probably the most detailed lie I have ever told and I hated every minute of it [:I] I crossed my fingers and felt sick doing it but it had to be done and in the end it showed that not only did we not have any equity but that we were in fact in negative equity.

Good look with it ... just breathe deep if you have to do the same and it'll soon be done [:)]

[dancer]

Get an Estate Agent in - if their valuation does not work in your favour then ask your IP about getting a surveyor.
I am also with Payplan but didn't want to ask them to get a valuation as once it is done you are 'stuck' with it & can't get a 2nd opinion!

[Kate.c]

Thanks everyone ! I can't believe I've only just found this forum with only 3 months to go !! We have contacted our IP and he is looking into how we fund a surveyor valuation, in the meantime I may get a local estate agent out so I have a second opinion.
We have not had to provide bank statements since the beginning of our Iva so I'm assuming we won't at the end ?

[Struzzo39]

No we havn't either kate so wouldnt expect to at the end. Haha thanks Til. Shame you dont offer a service gettin worked up about it and havn't even booked the appt yet.

[Til]

Lol Struzzo39 I felt totally the same - but it's one of those things when it actually cones to the appointment its not as bad as you'd feared. The estate agents only spent a few mins looking round (they don't need long as they know the market - they just have to adjust the valuation for the state of your house really). They chatted for a minute or two and I asked if they could email me the valuations which they did. Honest - get it booked and then its over with sooner so you can relax x

[Struzzo39]

Hope so as getting myself in a right tizz about it . Thanks for the support