When the Equity clause kicks in in month 66 my IP has said that an Estate Agents valuation is all I need to get but is an Estate Agent likely to put a higher value on the house than a survey for mortgage purposes - I'm worried that an Estate Agent will 'over value' it as their fees are linked to the selling price & they will want to make the most that they can from any sale (although obviously we won't be putting the house on the market)?
I would prefer to get valuation done by a company eg, Countrywide but can't afford to pay the fee if my IP won't reimburse for it. [:(]
Speak to your IP and see if they will reduce your next payment byu the cost of the valuation. That is what we do rather than have our clients lie to estate agents and potentially get inflated valuations. By paying a proper surveyor you can tell the truth and get the correct valuation and it normally costs about £100 plus VAT at most. That is what we usually allow.
My OH is an estate agent and it's uncommon for them to charge for a valuation. Just don't let the estate agent know that you don't intend to sell and that you want a price for a 'quick sale'. Tell the estate agent that you intend to get other valuations also. They will call you for a few weeks after but you can just tell them that you decided not to sell.
Clare, the local Estate Agents do free valuations but obviously they want to 'maximise' their income from a sale whereas a 'mortgage' valuation is done with the aim of protecting the lender's 'investment'.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ClareSilver
My OH is an estate agent and it's uncommon for them to charge for a valuation. Just don't let the estate agent know that you don't intend to sell and that you want a price for a 'quick sale'. Tell the estate agent that you intend to get other valuations also. They will call you for a few weeks after but you can just tell them that you decided not to sell.
A bit sneaky, but loads of people do it.
that's just what I did and by the end off it I had convinced myself I was actually moving.
the valuation was near enough spot on to what zoopla etc was saying and they also put a price down to sell quick if I did not want to wait when it went on the market.
cc received 6th January 2014 now upwards and onwards
