What's the best way to approach an estate agent for a valuation ?

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philcre

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Post by philcre » Tue Jan 26, 2016 10:04 pm
I am at week 54 and need to supply a valuation on my property.Whats the best way to approach the estate agent?Do you tell them your in an iva?And do they give written valuations.Thanks Phil
 
 

Shining

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Post by Shining » Tue Jan 26, 2016 11:56 pm
Hi, I personally didn't tell them, I told a white lie and said I needed a quick sale due to some circumstance I made up...they emailed me their pack with my valuation which I forwarded to my IP and this was acceptable. To the estate agent I did say, sorry for wasting your time when they followed up my enquiry but things have changed again and they were fine, all free too.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Wed Jan 27, 2016 8:38 am
I was the same as Lesley - said I was possibly being made redundant and would need to move. They sent me a written valuation which I sent off.

I also said that things had altered when they followed it up.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jan 27, 2016 9:43 am
We allow our clients to pay the agent and we will reimburse the cost [within reason]. This allows you to tell the agent what you want and they will then not artifically inflate the value to try and get it on their books. For the value of a valuation fee you could save a full year's IVA payments.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Jan 27, 2016 9:44 am
Hi - if you tell them that they will know you're not serious about selling your house and probably won't go out of their way to give you a valuation.

Personally tell them you're thinking of selling depending on the figures. Hopefuly they should send you a letter or e-mail confirming their valuation.

Wrost case scenario you owuld have to pay for a formal valuation but sometimes your IP will pay a contribution towards this. It may be worth it to challnge the IPs valuaiton if it then results that your equiable interest is less than £5K.

If it doesn't bring it down to less than this sum then it's probably academic what figure is used (on the assumption an extension applies to you instead of remortgaging).
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

watzki

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Post by watzki » Wed Jan 27, 2016 10:15 am
We challenged our IP's valuation,they got ours off the Internet,the Internet valuation was at the top end,so we went on the same site
Top valuation was £110000
Middle £101000
Quick sale £92000

So we argued that it should be the house valuation and they agreed.
We had 85000 outstanding,so we had no equity.Hope this helps
Today 1st of December 2016 the vultures finally flew away
 
 

watzki

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Post by watzki » Wed Jan 27, 2016 10:17 am
The house valuation was the middle figure,in line with the sales in the street
Today 1st of December 2016 the vultures finally flew away
 
 

clanger

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Post by clanger » Thu Jan 28, 2016 12:51 pm
maybe I'm being a little unwise here, but why not be upfront and tell them that you are on the back end of an IVA and you are prepared to pay for the valuation ...be honest with them and this may help your cause to get the correct and honest price, and if you can get some of the value back from your IP then it must be the best way.......or am I just being silly....I have a long long ....long way to go before I face this by the way [:)]
Last edited by clanger on Thu Jan 28, 2016 12:53 pm, edited 1 time in total.
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Jan 28, 2016 12:55 pm
Because if he pretends to be simply selling it in the usual way he is more likely to get a free valuation and won't have to put his hand in his pocket. Paying for a formal valuation is a last resort.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

kallis3

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Post by kallis3 » Thu Jan 28, 2016 1:48 pm
Agree with Lisa - why not pretend? It has worked for a lot of us and the valuation is usually free.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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