freeman jones online valuation

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belgarion

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Post by belgarion » Tue Nov 18, 2014 4:51 pm
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i am in my last 6 months and got my house valuation done and sent this with my mortgage redemption to freeman jones it shows that there is not enough equity in the property i rang today and they say they have to do an online valuation and compare the 2 to see if i should extend by 12 months does this seem right or does it sound like they just want to extend by 12 months i dont understand why they need to do an online valuation with realtime (or something like that) but if i did an online with zoopla it woundnt be accepted i had some one come to my house view and value it on first hand why is this not enough?
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Foggy

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Post by Foggy » Tue Nov 18, 2014 5:02 pm
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Most IP's require at least two valuations to arrive at a decision.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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belgarion

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Post by belgarion » Tue Nov 18, 2014 5:06 pm
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ok but the wording is 1 valuation and 2 re morgage attempts and as i say if they can use online valuation why cant i?
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Foggy

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Post by Foggy » Tue Nov 18, 2014 5:08 pm
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Well -- if 1 it says insist they stick with 1. Online valuations are guesses at best and usually err to the high side for an average dwelling.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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belgarion

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Post by belgarion » Tue Nov 18, 2014 5:14 pm
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i agree but zoopla have it valued around the same as i had it valued but if the one freeman jones use is much higher i am going to be forced to extend even though i had it valued first hand
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Foggy

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Post by Foggy » Tue Nov 18, 2014 5:23 pm
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With the wording you have I would fight it if that happens.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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