Beneficial interest urgent question!

brokeinbristol

We have had a letter from the RTLU who are dealing with the BI in our property saying there is £5,544.25 of equity in our property + £211 solicitors fees (of course) & asking for us to make an offer. So question is how much do we initially offer? & any other info we need to plea in our letter back to them justifying it? Please help! Thanks

thechippy

Is that the total equity?

Is the property jointly owned, but only one of you BR

sizzler

Did you have some valuation and what were they against secured debts?:)

thechippy

He's online, but not answering us - naughty boy..:p

nervousmother

I know that they both went BR, i remember the other posts, and they thought they had 6k beneficial interest so its about right.

Offer 2k to start with.

brokeinbristol

Sorry guys, wasn't being rude, was online at work! naughty naughty! Yes me & husband both went BR and we had to get a chartered surveyor valuation, so from that they've worked out the total equity they are after stated above. Thanks nervous mother, you reckon £2,000 to start? what does everyone reckon we'll end up paying?

sizzler

:)IF 5500 roughly is what they say the BI is remember they would have to sell property ie esate agents fees and solicitors so this would certainly looked at in the equation.

Thye will allways try and get as much as possible. Eash person will tell you different amounts as all TRLU units and ORs a re different.

I would start at 2500 and expect to pay about 3500.

Hope this helps sizzler:)