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Posted: Sun May 31, 2015 6:55 pm
by Carl.ph
Hi,
May be a silly question but what does an online valuation look like?
I've inputted my information and the screen presented to me gives a lower estimation, average estimation and higher estimation.
Would this be the screen I print off to present to my IP or is there something further I have to do?
Also would they take the average estimation of the three offered?
Can someone recommend a particular valuation website that they have used?
Thanks in advance guys!
Posted: Sun May 31, 2015 7:16 pm
by Foggy
Hi Carl. All online valuations are pretty much way off the mark. For a start they average out all house types in an area and they do not take account that your property has had very little maintenance over the 5 years you have been in an IVA. Many IP's use them as they tend to value in their favour.
Posted: Sun May 31, 2015 7:29 pm
by winter_blues
Agree with Foggy. Zoopla are pretty accurate for my area and if you take 10% off for a true market value based on 3 month sale it should come out more accurate.
I had a proper valuation done which valued at £147500. Zoopla values at £157250.
Posted: Sun May 31, 2015 8:56 pm
by dancer
Get a local estate agent round - online valuations including Zoopla were over £50,000 out for our property compared with the estate agent valuation
Posted: Mon Jun 01, 2015 9:59 am
by Lisa Thomas
I would recommend you get an estate agent around and see if they will confirm valuation by email. You don't need to tell them you are in an IVA or anything like that - just pretend you are thinking of selling depending on the price...
Posted: Mon Jun 01, 2015 2:43 pm
by Helen.k
I got an estate agent and paid £60 for a valuation, I did this so I could explain why we needed the price, they were happy to give us a lower (but very realistic) valuation compared to the slightly higher desktop valuation the IP had done
Posted: Mon Jun 01, 2015 5:02 pm
by Carl.ph
Many thanks for your comments.
Why I ask is I've had 2 estate agent valuations done and one of them is higher than an online "upper valuation" so I was wondering if I could use an estate agent and online valuation to send to the IP?
Posted: Mon Jun 01, 2015 5:08 pm
by Foggy
Estate Agents, when thinking they are going to get your business, routinely over value to tempt you to sign up with them. The figure they give is a marketing price, not a value, and has built in negotiating room.
If they know why you are getting the valuation they will, albeit for a small fee, give you a truer picture of value.
Have a look in your local estate agenst windows and on Rightmove, see if any houses like yours are selling nearby and see what the asking prices are.