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    • des1
    • By des1 8th Sep 17, 8:54 AM
    • 10Posts
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    des1
    Urgent specialist advice needed
    • #1
    • 8th Sep 17, 8:54 AM
    Urgent specialist advice needed 8th Sep 17 at 8:54 AM
    Members of the family selling their house, at point of exchange the whole village was informed of a proposal for a new link road to motorway could be put through their village.
    There are three proposals for the new road, one of which would be sited across the field from their house, but this is only a consultation process set to last at least six months and any new road will not be built for at least 10 years and could be in any of the three options. The purchaser still wants to purchase the property at the agreed price. Their mortgage provider (Santander) have requested another valuation and were told the funds would be withheld until decision on road is made. Told purchaser was appealing this decision. Just found out from the purchaser that the valuer devalued the property significantly. Council representatives say that the property should not be devalued as "This is just a consultation and may not happen". Can anyone give any advice or recommend solicitors who deal with this kind of issue please.
Page 1
    • kinger101
    • By kinger101 8th Sep 17, 10:05 AM
    • 3,942 Posts
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    kinger101
    • #2
    • 8th Sep 17, 10:05 AM
    • #2
    • 8th Sep 17, 10:05 AM
    Options;

    (a) buyer makes up the shortfall;
    (b) vendor reduces price;
    (c) meet in the middle;
    (d) buyer finds new lender who values at agreed sale price.

    If they really want it, they could perhaps speak to a mortgage broker who might be able to guide them.

    The council know nothing about property valuation. Proximity to roads can affect the value of a property, and the consultation is bringing such a risk.

    There is option (e)

    https://www.youtube.com/watch?v=meF7NmfnXZ0
    • davidmcn
    • By davidmcn 8th Sep 17, 10:52 AM
    • 6,100 Posts
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    davidmcn
    • #3
    • 8th Sep 17, 10:52 AM
    • #3
    • 8th Sep 17, 10:52 AM
    Can anyone give any advice or recommend solicitors who deal with this kind of issue please.
    Originally posted by des1
    Not sure what sort of legal advice your relatives think they need. This is a valuation issue for their buyers to sort out.
    • des1
    • By des1 8th Sep 17, 11:08 AM
    • 10 Posts
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    des1
    • #4
    • 8th Sep 17, 11:08 AM
    • #4
    • 8th Sep 17, 11:08 AM
    What is really annoying is that they have been told for weeks that an appeal was to Santander was being processed and have only now found out that is not the case. The buyers are first time buyer so no hope of raising in excess of a further £45,000 and our family cannot raise that amount of money. Solicitors (who incidentally are acting for vendors and purchasers - firm recommended by estate agents - conflict of interest?) have not been keeping them informed truthfully. Now getting pressure on their purchase and subsequent chain and have wasted about 4 weeks holding out for an appeal that has never been done.
    • EachPenny
    • By EachPenny 8th Sep 17, 11:21 AM
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    EachPenny
    • #5
    • 8th Sep 17, 11:21 AM
    • #5
    • 8th Sep 17, 11:21 AM
    The council know nothing about property valuation. Proximity to roads can affect the value of a property, and the consultation is bringing such a risk.
    Originally posted by kinger101
    The council should know about planning blight and before publishing proposals for significant road schemes - even at the consultation stage - should have obtained legal advice on the risk of blight attached to their proposals and been in a position to advise landowners who might be affected by the proposed scheme.

    It is really for the current owner to make enquiries to the council regarding blight. From what I understand of the rules, if you purchase a property after details of the scheme have been published then you may not be eligible to make a claim, even if the scheme goes ahead.

    Generally a formal blight notice cannot be served until the route of the scheme has been confirmed, and then only if the property is actually affected. But it is usually accepted that the effect of blight starts as soon as proposals are published.

    This Highways England guide gives a rough outline of the issues:
    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/499282/Your_property_and_our_road_blight_Digital__.pdf
    "In the future, everyone will be rich for 15 minutes"
    • des1
    • By des1 8th Sep 17, 11:31 AM
    • 10 Posts
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    des1
    • #6
    • 8th Sep 17, 11:31 AM
    • #6
    • 8th Sep 17, 11:31 AM
    Well they have spent a lot of money on the conveyancing so far and the purchaser still wants to go ahead at the agreed contract price but due to the Council's proposal he may not be able to get a mortgage. The initial valuation stated the agreed contract price but the later valuation after the road proposals has reduced the value by £45,000. Would they have any redress from the Council/Highways Dept for this?
    • des1
    • By des1 8th Sep 17, 11:34 AM
    • 10 Posts
    • 1 Thanks
    des1
    • #7
    • 8th Sep 17, 11:34 AM
    • #7
    • 8th Sep 17, 11:34 AM
    Unfortunately the surveyor actually said in the second valuation that "the property would be blighted". Santander have admitted that this was an unfortunate phrase to be used and not the case. Is there any redress against the surveyor, who has refused to amend or reconsider his report.
    • agrinnall
    • By agrinnall 8th Sep 17, 11:37 AM
    • 18,543 Posts
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    agrinnall
    • #8
    • 8th Sep 17, 11:37 AM
    • #8
    • 8th Sep 17, 11:37 AM
    Sounds like a walk away and leave it to somebody else situation to me.
    • steampowered
    • By steampowered 8th Sep 17, 1:42 PM
    • 1,897 Posts
    • 1,770 Thanks
    steampowered
    • #9
    • 8th Sep 17, 1:42 PM
    • #9
    • 8th Sep 17, 1:42 PM
    You cannot legally force the surveyor to change the report, or the bank to change their mind on lending.

    Your family have zero redress against the surveyor. The surveyor acts for the bank, not for your family. The surveyor does not owe your family a duty of care.

    Your family could try to find another lender to get another valuation done. Though it is possible the next valuer might raise a similar issue.

    There might be some sort of compensation paid if the road were to be built right next to the house, but certainly nothing at the consultation stage.
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