low valuation of property

ptjl

Hello ive currently in the process of moving to Turkey toretire. I’m gifting my son the home so he can get a step on the property ladderwe was looking at the value to be around 220-240K and he would take out amortgage for around 120K so gifting around 100K+ but they have paid £400 for anevaluator, who spent the best part of 10mins looking around valued this at 140ktop figure! I was shocked and after speaking to my broker we guess there musthave been an as a property half the size of mine is on the same road at 165K. but they man is sticking by it. I’ve made a complaint is there anything else I can do without paying another £400 forthis to be done correctly.

Annisele

First have a look at actual sale prices near you.

The fact that a property half the size is on the market at £165k doesn't help your case much at all - but if you can find some half the size that sold for £165k, you've got a far better chance of persuading a valuer that he's wrong.

Secondly - is it actually in your interests to get a higher figure? If you're giving your son all but £120k of the equity, does it matter whether the valuation is £140k or £220k? The higher valuation would mean you'd given your son more money, which might have tax implications depending on your full circumstances.

[Deleted User]

Here's a link to a site where you can get sold prices from:

http://www.nethouseprices.com/