Shared Ownership Property Sale with increase in value

ljs_1985

I have a shared ownership flat which I bought 40% of 2 years ago, the overall property value at the time was £180,000.

I want to sell it and the housing association say that I need to provide a surveyors valuation at my own cost and they then get 8 weeks to sell it themselves, after which i can sell via an estate agent myself. Out o f interest I first have got 2 estate agents to view and give their estimate of value, one who said they'd market it at £270k and the other said £290k.

I've been made aware that a surveyors report could be substantially less than this and i was wondering where I stand if the surveyor said £230k and an estate agent had said £290k. Would a surveyor be influenced at all by estate agents advice?

And would the housing association definitely go with the surveyor valuation or would they take into consideration the estate agents opinion too as obviously it's in their best interest as well as mine to sell for as much as possible.

Sorry if this question is silly, the whole house buying/selling and shared ownership thing is going right over my head.

Lokolo

A surveyor is a professional. An estate agent isn't.

The housing association won't take notice of an EA's valuation as it's worthless.

Michelle2014

They will go with the valuation report. We sold a previous SO flat and got a decent price through the surveyor valuation. However we did sell the flat back to the Housing Association and I think they put a tenant in.

eddddy

ljs_1985 wrote: »

Would a surveyor be influenced at all by estate agents advice?

And would the housing association definitely go with the surveyor valuation or would they take into consideration the estate agents opinion too...

The HA won't take any notice of an EA's valuation.

The Surveyor won't admit to taking notice of an EA valuation, but possibly will.

When a came to surveyor value a property of mine (not to do with SO or a HA), the first question he asked was "Have you had an EA valuation recently?".

I gave the surveyor copies of the 2 EAs letters containing valuations. Obviously, I don't know for sure, but I think the surveyor's valuation was influenced by those letters. His valuation was about 5% less than the EAs.