How to get a valuation on a house that is not being sold

The_Wall

My partner and I are splitting up. She wants to buy my share of the house, and so I was wondering how we getting a fair valuation of the house.

I obviously need to get a good a price as possible, so that I can have more deposit on my next place, and she obviously wants to get it as cheaply as possible so that she does not have to borrow too much to pay me off.

It is not quite as easy as seeing how much other houses in the close have go for, since we have an extra bedroom and a conservatory.

Any suggestions welcome.

lisal0u

Hi,

Im in a similar situation at the minute! We just asked 3 estate agents round to give a valuation! You don't need to tell them that youre not selling. The only problem I can see is if you need it in writing for legal reasons! You may have to pay for it then as the valuations we have were just verbal.

It would at least give you some idea. I got three valuations and just took the average as that seemed fair! Unfortunately its not looking like theres any equity in my house at the minute :-(

Sammy85_2

Get three agents to come round and value it and then take the middle one.

Fire_Fox

https://www.houseprices.co.uk

The_Wall

Thanks for the suggestions.

LisalOu at the moment the split is amicable, so hopefully won't need the valutions in writing.

Sorry to hear that there's no equity in your house. Good luck.

googler

You'll 'probably' need it in writing before you're done, so why not cut to the chase now and get a surveyor's valuation?

Won't your partner need a valuation for mortgage purposes?

He'll sign off on it, and any legal reps that you have, or any third parties who want 'proof' of the value will be more inclined to accept this, rather than you relaying "Well the first EA said £X, the second EA said £Y, and the third said £Z.

???

mclaren32

An agents valuation may well be more optimistic than one from a surveyor so it could well be in your interest to get a formal valuation.

The_Wall

googler wrote: »

Won't your partner need a valuation for mortgage purposes?
???

Not sure what she will require, since she is looking to do a transfer of equity, and has not been to see our current mortgage provider yet.

Thanks for all the suggestions. Looks like a surveyor's evalution is the way to go.

egyptiangirl

My friend was in this situation but wasn't too bothered about it being 'fair' so when the agent went upstairs she told him to be 'conservative' in his estimate. Her ex accepted what the agent said when he valued it back downstairs

TighterThanTwoCoatsOfPain

egyptiangirl wrote: »

My friend was in this situation but wasn't too bothered about it being 'fair' so when the agent went upstairs she told him to be 'conservative' in his estimate. Her ex accepted what the agent said when he valued it back downstairs

Similar....House was valued very much on the low side given that if I wasnt doing the buying out it would have had to be priced for a very quick sale

Can't imagine why you would need it in writing unless things got horribly nasty, in which case a airey fairy estate agents valuation probably wouldnt be any good..

I just had my sol write a letter saying that we had agreed £x in consideration for the other parties interest in the property and was done ans dusted in about 2 weeks! :beer:

CarineG

This is interesting.

I asked an Estate Agent to come value my property last summer as I they had just sold a property of the same size in my block.

The agent came around, inspected my property and refused to give me a price on the spot. He just indicated what asking price the other flat was on for. The other flat had a different layout with rooms being of different sizes to mine.

After chasing his valuation the following week, he indicated that he was not going to give me a price, I would have to get a Building Surveyor for that :eek:

When you ask an Agent to value your property, shouldn't get give you a rough idea of price or was this Agent just incompetent?