Right To Buy..Valuation

*DaDa

I have applied for a RTB my council flat,

Would you accept the first valuatiion or would you arrange a second?

If second valuation is higher than 1st..council stick to secon valuation

Anyone purchased through RTB recently should I accept first offer or should I get a 2nd one done??

I ony sent the application today BTW so dont have any figures to look at.

Thanks
xx

holly_hobby

Are you worried it will be valued too high by the council or too low ?

H

ice_babe

I would see what they offer first. And check out what other flats are going for in the area.

I brought my flat through right to buy 6 months ago and the first offer from the council was 15-20k less than we where expecting So we accepted. Also if you reject first offer the second valuation may be higher and you then wont be able to accept the first one

*DaDa

holly_hobby wrote: »

Are you worried it will be valued too high by the council or too low ?

H

Thanks for the replies,

Worried it might be high, but then 2nd one might be even higher, just siting waiting with everthing crossed fr the next couple of weeks. xx

50Pence

I recently applied for the right to buy. When the valuer visited, she said that council values tend to be around 5-10% less than market value (price similar flats in my area sold for).

But if your not happy with the value, it may be very worthwhile appealing to the district valuer. (I cant post links, but google this: guardian money right to buy 30 april 2004). Its a bit old, but maybe something to consider.

bikeman17

Im in a similar situation, 3 years ago we got our council property valued it came at 320k, last year we got it re-valued it came at 310k and recently we got valued again under the new rtb scheme and it came up at 350k before any discount got applied. With the dicount it can be purchased for 275k.

Having said that there are two other properties which are exactly the same, and on the market one is 375k and the other 399k.

Is it worthwhile appealing?

50Pence

50Pence wrote: »

I recently applied for the right to buy. When the valuer visited, she said that council values tend to be around 5-10% less than market value (price similar flats in my area sold for).

My flat has been valued at £170K. I think its too high and over priced compared to other properties I have viewed recently.
My gut feeling is to appeal.
I will start by checking what price these/similar properties actually sold for using mouseprice/rightmove/zoopla.