www.iva.co.uk

Hi, I hope that someone might be able to help me. April will be our month 54 where we have to submit a valuation. I have asked a chartered surveyor to perform a forced sale valuation but they have informed me that termination doesn't really exist, but they could perform a Restricted Realisation Report which is a formal written report but it would have to specify the restricted sale period that the lowest selling price would be for. I have been in touch with some estate agents and they said they would do a valuation for free but it would be for the market price only. We had saved to pay for someone to do it because we got so much hassle from the estate agents at the start of the IVA who kept contacting us to get us to put the house on the market. My other question is can I have the valuation done in March and present it in April, or does it have to be valued in April? I ask this because I called one agent today and they talked me into them coming next week! We need the forced sale valuation as we are close to the £5000 equity rule. Many thanks for reading this and for your help.

Should be ok. Have you spoken to IP about fees for the survey? Some allow you to submit receipt and deduct from payment as an expense. Worth an ask!

Hope things work out.

Hi, thanks very much for your reply, I'll ask them about it,but I'll see what the estate agents come up with first. Does anyone know how the equity share might work out? The mortgage is just in my husbands name, which is notified on the IVA paperwork but it says that I may have an interest in the property. It states anything over £5000 and further payments are due. Would that mean anything over £5000 would mean there was equity available, or would it be doubled including me? There are secured loans on the house that are joint.Thanks again