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Posted: Sat Sep 17, 2016 2:34 pm
by key310865
I have now arranged for an estate agent to value flat for equity release in last year of iva. He asked if I wanted him to value on cash buy/ investor . Is this ok . I explained I need valuation for financial reasons
Posted: Sat Sep 17, 2016 2:47 pm
by kallis3
Hi,
Just tell him you are thinking of relocating and are looking for a forced sale valuation, that's what I did.
No idea what the valuation would be for a cash/investor.
Posted: Sat Sep 17, 2016 3:01 pm
by Foggy
I imagine it will be a low valuation -- which is what you want. As long as this point isn't mentioned in the paperwork it should go in your favour.
Posted: Sat Sep 17, 2016 5:55 pm
by MerlinL14
Cash buy valuations are normally in the region of 70-75% of the true value. I would decline.
Posted: Sun Sep 18, 2016 7:35 pm
by Michael Peoples
As long as you have a valuation on headed paper it should be enough for your IP. If the IP disagrees with the valuation they can always instruct another one.
Posted: Mon Sep 19, 2016 12:33 pm
by Lisa Thomas
You want the valuaiton to be as low as possible on the assumption it is possible to show the equity is less than the standard £5k minimum.
If the valuaiton is always going to be above that figure then it will be academic what type of valuaiton you get.