It depends on your firm. We allow our clients to pay for the valuation and reimburse them as a cost of the IVA. Normally about £100 plus VAT is acceptable as you only need a valuation and not a full survey. Ask your own IP what they do.
Many just tell the agent they are possibly re-locating, many are up front -- whether they charge or not depends on the agent. Some IP's will accept on line valuations --- identical sales on Rightmove etc as evidence of market value.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks both, I would prefer a home visit so the valuer can see I've not been able to maintain my home due to the financial constraints of the IVA, hopefully this fact will have an impact on any valuation?
Hi Carl - You do not need to tell them about the IVA. Just tell them you're thinking of selling but it depends on price etc. Best to try and get the valuation in writing if you can - even if it's only by e-mail but your IP may want a formal report which the agent will charge you for. Try and get a freebie to give to your IP and take it from there. A home visit is best so they can base it on actual condition rather than speculation.
A home visit is always best for the very reason you have mentioned, but if Rightmove clearly shows negative equity the IP might accept it there and then. As Lisa mentions, it all depends on the figures.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
we paid for our valuation (£50 + vat) according to our IP's valuation we had £5131 equity in our house and they wanted us to pay another year. I thought honesty was the best policy in this case, as the amount we needed to be reduced by was so little. We got a local estate agent. The IP done an average of both valuations and we came out with £3k equity so the extra year was cancelled. so in the long run £60 was worth it rather than another year which would have been another £5k!
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
