Please Help with beneficial interest question!

Angiepange

Hope you get the result you are looking for. Good luck x

brokeinbristol

Ok, so got the valuation from the chartered surveyor this Am, House worth £122,000 apparently, so quick sale valuation of £115,000 and OR reckons £130,000. Mortgage currently £116,000 so £6,000 in equity. We are going to copy the valuation report, do we send the OR/RTLU the original or the photocopy? I presume we will then have to wait to see how much they come back and say they want from us? Am I right in saying that we can then do some negotiating with them? Or is that not the case anymore? And if so what price should we start negotiating at?
Thanks

Esoog

bump.

I'm interested to hear what happens here. What offers etc are made

emos4607

yes me too..... please let us know the latest when there is one!!

Ta

brokeinbristol

Think I should have posted on this thread and not opened another one...whoops, sorry! Latest as you may have read, is that we got a chartered surveyor valuation £200 thank you very much! They valued the property at £122,000, and we have had a letter back from the RTLU saying there is £5,554.25 equity they are after, and for us to make them an offer. So we were just trying to ask on here what people thought we should offer to start with and how much people reckon we'll end up paying? They also added that a figure has to have been reached by June or else they'll want another mortgage statement and valuation!

brokeinbristol

Letter sent off this Pm offering £2,000 + £211 solicitors fees for the BI, so lets see...... watch this space!

nervousmother

glad you offered that amount, rather start low. our BI was around 14k? we offered 5 they didnt accept we offered 6k and they accepted.. so good luck.

emos4607

good luck broke - we will be going through this soon too. Can't wait until its all sorted, i can understand them wanting the cash if there is lots of equity but when its relatively small they should have more of a moral obligation about potentially making people homeless.

brokeinbristol

Hi Guys,

Our offer of £2000 plus £211 fees was declineed by the OR so we have upped the offer to £3000 plus £211 for the fees. Hope they accept this time.... The full BI is roughly £5.5K by the way. This is so stressful! can't wait till AD next year! :beer::beer:

nervousmother

Good luck broke and thanks for letting us know how your getting on with it..