RICS valuer undervaluing by £100,000!

Paul_the_Painter

Could you staircase to 100% ownership? If you are looking at moving to another non SO property, you presumably have a mortgage agreed, the new property is larger, and all you are relying on from the current SO property is the deposit.
Could you therefore not use the mortgage you have agreed to instead buy your current property (at of course the £550,000 valuation) then put it on the market at £650,000 once the paperwork is done.
There would not be an issue with the property having changed hands recently for the new purchasers of your current property, as your name would have been on the deeds all along, and this is not an unusual situation.

oldcarpenter

RICS valuation surveys can be done by anyone, you take the past years sales of similar properties within surrounding streets, take the lowest and highest sale price, the middle price is the valuation. The condition has no relevance so as long as the valuation was within + - 20% of the middle property figure, you must accept it.