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For people in Scotland - what happens to your house
Hollygoheavily
Posts: 28 Forumite
I'm not sure if it is the same in England or not ....
Anyway, I was advised to go to a professional Insolvency Practitioner andI am glad I did. The arranged for our house to be valued (cost us £80)and the valuation was quite low, which was good. I was told that the 10K equity share which is mine will be discounted due to estate agency and legal fees being taken into account - so I am hoping my family can buy out my share which i expect to be around 6 or 7K at most, pretty quickly. After that, the property gets forgotten about so even if it rises in value by the end of year three, it won't matter.
I just thought that might be useful for someone to know, as it came as a bit of a relief to me
Anyway, I was advised to go to a professional Insolvency Practitioner andI am glad I did. The arranged for our house to be valued (cost us £80)and the valuation was quite low, which was good. I was told that the 10K equity share which is mine will be discounted due to estate agency and legal fees being taken into account - so I am hoping my family can buy out my share which i expect to be around 6 or 7K at most, pretty quickly. After that, the property gets forgotten about so even if it rises in value by the end of year three, it won't matter.
I just thought that might be useful for someone to know, as it came as a bit of a relief to me
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