Yopa - for house valuation during divorce?

seashore22

Our soon to be ex family member has used Yopa to value the marital home on the Form E during the divorce. Apparently Yopa gave a range, say £375,000 to £400,000 and this person has put a valuation of £370.000 on the form.

Don't know much about Yopa, but I think they are an online estate agent. Is this a company who you would use in these circumstances? We were expecting a local, established estate agent, although I've no idea why we're surprised as it's par for the course with this person.

Edit - I do wonder if an independent valuation would be more usual, rather than estate agents valuing to sell?

Davesnave

I would expect a surveyor who has RICS accreditation, not merely an EA with a possible agenda to gain business by massaging the figures; simple as that.

[Deleted User]

Hi,


have a look here for similar house prices in the area.

seashore22

Davesnave wrote: »

I would expect a surveyor who has RICS accreditation, not merely an EA with a possible agenda to gain business by massaging the figures; simple as that.

That's what I was thinking or at least 3 estate agent valuations to give an average. I don't think the property is massively undervalued, but have no confidence in their ability to play fair, particularly where finances are involved.

AnotherJoe

Its utterly ridiculuous and i suggest, invalid,to use Yopa for that purpose.

AdrianC

So long as the two partners can come to an amicable mutual agreement on a figure, the source doesn't matter.

If they can't, then it needs to be a credible and mutually acceptable source. Taking the average of three EAs - instructed to give a neutral valuation - would seem appropriate.

We may or may not have a single one here. At least two more needed.

If something as basic as this can't be mutually agreed, then the only winners are going to be the lawyers.

seashore22

It's a domestic abuse situation, so no mutual agreement possible.

To be fair I don't think the valuation is ridiculous, but I think it needs more than a Yopa valuation (no other valuations) to make us confident in the facts.

My relative isn't on the deeds, but registered marital rights with the land registry after leaving the home.

AdrianC

seashore22 wrote: »

It's a domestic abuse situation, so no mutual agreement possible.

Even through some kind of mutually trusted third-party mediator?

To be fair I don't think the valuation is ridiculous, but I think it needs more than a Yopa valuation (no other valuations) to make us confident in the facts

So get your own EA in there.

theartfullodger

Question to be considered 1st is, do you/the other party want a high or a low valuation.



Knowing that then decide what to do next.



Easiest option is get ask three different local agents to pop round, view and advise on if any improvements worth doing (that make the request sound plausible..) and what it's worth.

seashore22

What we want is a realistic valuation, a value at which the house will sell, although it doesn't need to be a panic sale. The house is very well presented (at least it was a year or so ago), in a nice road with ample bedrooms and bathrooms.

There is a possibility that the person concerned may suggest a buy out, so an accurate valuation would be necessary.

kingstreet

Davesnave wrote: »

I would expect a surveyor who has RICS accreditation, not merely an EA with a possible agenda to gain business by massaging the figures; simple as that.

This would be my advice in the same circumstances. Free is not necessarily best when whoever is issuing the instruction has an interest in the end result.