Estate agent asked if I wanted valuation on cash buy/investor. Is this OK ?

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
Post Reply
 
 

key310865

User avatar
Posts: 50
Joined: Tue Nov 01, 2011 12:41 pm
Location: United Kingdom
Post by key310865 » Sat Sep 17, 2016 2:34 pm
Quote
I have now arranged for an estate agent to value flat for equity release in last year of iva. He asked if I wanted him to value on cash buy/ investor . Is this ok . I explained I need valuation for financial reasons
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77176
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Sat Sep 17, 2016 2:47 pm
Quote
Hi,

Just tell him you are thinking of relocating and are looking for a forced sale valuation, that's what I did.

No idea what the valuation would be for a cash/investor.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
Top
 
 

Foggy

User avatar
Posts: 33395
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Sat Sep 17, 2016 3:01 pm
Quote
I imagine it will be a low valuation -- which is what you want. As long as this point isn't mentioned in the paperwork it should go in your favour.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
 
 

MerlinL14

User avatar
Posts: 1626
Joined: Sun Oct 30, 2011 2:44 pm
Location:
Post by MerlinL14 » Sat Sep 17, 2016 5:55 pm
Quote
Cash buy valuations are normally in the region of 70-75% of the true value. I would decline.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Top
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:
Post by Michael Peoples » Sun Sep 18, 2016 7:35 pm
Quote
As long as you have a valuation on headed paper it should be enough for your IP. If the IP disagrees with the valuation they can always instruct another one.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
Top
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am
Post by Lisa Thomas » Mon Sep 19, 2016 12:33 pm
Quote
You want the valuaiton to be as low as possible on the assumption it is possible to show the equity is less than the standard £5k minimum.

If the valuaiton is always going to be above that figure then it will be academic what type of valuaiton you get.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
Top
Post Reply
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”