Appealing Right to Buy Valuation. Anyone done this recently?

Eveyahoo

Has anyone appealed the right to buy valuation in the last few years? There is a good article from 2004 by the guardian which states that 76% of valuation appeals get a reduced valuation by the district valuer, 22% of appeal prices remained the same, and only 2% of appeals end up being valued higher. 

I will be applying for the right to buy very shortly. If the guardian report is still valid, it seems everyone should appeal the council valuation automatically? I'm hoping the valuation will be around £120,000 but I imagine the council will try adding another £10,000 - £20,000 on top for the sake of it. Would anybody be willing to share their experiences please? Thank you. 

LHCalc123

In my experience as RTB and Leasehold administrator, I can confirm that every request I have sent the DVO has come back with a lower valuation. Goodness knows what the Valuations team think when I send yet another reduction over. 

K_S

Well this is really interesting and perhaps not common knowledge.

I've done a few RTB cases over the past year and can't recall any of the clients telling me that they'd tried an appeal.

Will definitely keep in mind the next time I have an RTB client.

LHCalc123

They MUST put in the redetermination request within 12 weeks of the date on the offer notice. The DVO will not accept any late appeals.

thesouthernnortherner

In my experience working in a housing association, yes they do generally come back less. Although I can say that we don't add extra money on! We use an independent valuer, and use the amount they propose in their report. But I believe the district valuer spends more time looking at comparables - they certainly charge more than the valuer we use!

I believe you have to provide the DV with some grounds for your appeal, but I'm not entirely sure. I've not processed an appeal yet.

theoretica

Eveyahoo said:

Has anyone appealed the right to buy valuation in the last few years? There is a good article from 2004 by the guardian which states that 76% of valuation appeals get a reduced valuation by the district valuer, 22% of appeal prices remained the same, and only 2% of appeals end up being valued higher. 

I will be applying for the right to buy very shortly. If the guardian report is still valid, it seems everyone should appeal the council valuation automatically? I'm hoping the valuation will be around £120,000 but I imagine the council will try adding another £10,000 - £20,000 on top for the sake of it. Would anybody be willing to share their experiences please? Thank you. 

I would have thought people were less likely to appeal a valuation that seems low, and more likely to appeal one that seems high - which will of course skew the results towards reductions.

sevenhills

When I was going through the process of buying my council house, I was expecting a valuation of £105,000-£110,000 as next door recently sold for £107,500 and the house was not any better than mine, maybe a little more modern.

If house prices are increasing, will the new valuation take that into account? When my valuation came back at £100,000 I was well chuffed.

FtbDreaming

I got mine valued in January 2018 and it was £82k which I declined as I thought it was high. I then had it done again in Oct 2019 and it came back at £82k again, the 2nd time I accepted and bought the house. 

Between 2018 and 2020 when I completed on the purchase I spent in the region of £9,000 rent. With the benefit of hindsight I should have just accepted the offer in the first place! 

canaldumidi

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https://forums.moneysavingexpert.com/discussion/6289163/council-stalling-in-right-to-buy-application#latest

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