Transfer of equity valuation, advice sought please
Transfer of equity valuation, advice sought please
Author
Discussion

Bert Cheese

Original Poster:

245 posts

122 months

Wednesday 30th August 2017
quotequote all
Briefly...I have a shared mortgage and am starting the process of buying my flatmate out to be the sole owner...mortgage terms allow this and he is looking to get his own place anyway as finances have now improved from when we bought the place.

Having been advised to get some valuations I am currently finding a huge variation between recent sale prices and estate agents online valuations for the same property type in the area.
Obviously a personal visit is going to be required for this, but are estate agents the best option given there will be no incentive for them unless this is a chargeable service offered?
Obviously I'm looking for a fair price to suit us both, but the highest recent sale value has been £146k while online I'm getting valuations of £185k and upwards which are frankly unrealistic looking at similar properties in the area (2 bed flat btw)
Any ideas welcome, I'm slightly floundering at present biggrin

Sarnie

8,373 posts

239 months

Wednesday 30th August 2017
quotequote all
Bert Cheese said:
Briefly...I have a shared mortgage and am starting the process of buying my flatmate out to be the sole owner...mortgage terms allow this and he is looking to get his own place anyway as finances have now improved from when we bought the place.

Having been advised to get some valuations I am currently finding a huge variation between recent sale prices and estate agents online valuations for the same property type in the area.
Obviously a personal visit is going to be required for this, but are estate agents the best option given there will be no incentive for them unless this is a chargeable service offered?
Obviously I'm looking for a fair price to suit us both, but the highest recent sale value has been £146k while online I'm getting valuations of £185k and upwards which are frankly unrealistic looking at similar properties in the area (2 bed flat btw)
Any ideas welcome, I'm slightly floundering at present biggrin
Go by sold property Data only......thats what a mortgage surveyor will do......