Housing Association Valuation Request!

silvercar

cluttered rooms, unmade beds, dirty bathrooms. enough to be realistic rather than obvious!

Oddgy

Nice one....looks like we will have to pile the washing up then. Dirty pants and socks left on the floors then? lol.
Ok - thats a bit ott. I doubt this will work anyway!!

Raspberry_Swirl

i currently have a 75%/25% split with a housing association and have just taken out a homeowner loan.
i had to get a current figure from the housing association for the bank, and they wouldn't even do that unles i payed for a valuation.

it was interesting to learn that they don't consider me to be SO, but having an interest free loan of 25% of the value of the property with them.

pawpurrs

Good luck with the valuation, hope it deems to be in your favour. You never know. Meanwhile try not to worry about it. Let us know the outcome.

Altarf

Oddgy wrote:

Update - we have now booked a independant chartered surveyor to come on Thursday to value the property for the housing association. They want 25% of the surveyors valuation. Not 25% of what we sold it for....but what he valued it for.

It is to stop you selling the house to a friend for £1 and handing over 25p to the housing association.

As has been said previously, consider buying the 25% yourself and then selling the whole property. Do the maths to see which makes more sense financially.

Oddgy

Hi - yes we did consider but then fell in love with the house we are intending to buy so in all, it will be quicker not to buy the 25% share. I wish we had done it 2 years ago mind you!! But then again, hindsight is a brilliant thing.

Oddgy

Update....He has been. The independant surveyor we instructed to value the house came on Thursday afternoon. He was here about 15 mins so not long. Not bad for £100 eh!! Wish i was on an earner like that!!
Anyhow...he never asked how much the property was sold for, so that was a good sign that he is going to base his valuation on his own opinion. The house wasnt "Filthy" but it wasnt as clean as we normally keep it. Whether this lowered his opinion, who knows? But we tried...!
However, we are still waiting for the valuation figure....!!
Hopefully it will be in Mondays Post - will let ya know!! Ok. :-)

gazza975526570

I did something similar for a 50% share. The HA instructed a valuer that was £20k about normal market value. We challenged this instructed our own who was £35k less than the original valuer. The HA agreed with our valuer and as such made a good few quid into that bargain after just selling it this month

Oddgy

20k Over - and then 35K less? Strange. Makes a mockery of it doesnt it! So you too had to only pay 50% of what your valuation came out.

Our HA offered their own valuer at 130+ Vat, but looking around locally we got our own in at £100 + Vat. So for a start we are paying less for the valuation, and at least the surveyor is working for us and not for them!!

Just need to wait to hear what he valued it at now...come on postman! :-)

gazza975526570

Thats right - and the 15 minuted you were here seems an eternity compared to the fleeting visit he paid us!!!

Fingers crossed...