Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Anyone ever appealed a valuation?
Basically my remortgage has failed due to the fact I valued it at 158000 and they have valued it at 150000. Meaning I don't meet the ltv by 4-5k
Properties on my estate are rarely on the market. They are only 8 years old. They have said if I can find 3 similar properties selling over my valuation they will reconsider
This year there's been 2 sales On the whole estate. 1 4 bedroom and 1 2 bedroom. The 2 bed sold for 12k more than its initial sale price. The 4 bed sold for 26k more than original selling price.
So. My property was sold for 149500 when It was built. I thought my 8k gain in comparison to the other sales was reasonable to go in at.
What else can I do as there isn't enough sales to appeal it. But the rate saving over the term is 70k compared to what I'm on now!
Adult GiftsClick here to vist us
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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You can't just value it based upon what you want it to be.
Search harder and wider. Consider other properties within the same town/locality with similar features to yours (ie. new build, same bedrooms, similar parking/garens etc.).
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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Just get some estate agents round to value. Tell them you are thinking of moving though. Mention remo and they won't even turn up.
Once you get them in writing then go back to the lender.
Corsa 2.0 16v Vegas - Sold
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John
Member
Registered: 30th Jun 03
User status: Offline
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Are lenders interested in estate agent valuations? In my experience they are no better than guessing.
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jrsteeve
Member
Registered: 3rd Apr 02
Location: Manchester
User status: Offline
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u2u me your postcode and email address, i'll send over a rightmove report going back a few years. That should show anything put on the market within a certain radius (would recommend 1/4 mile max) and also some info on sales prices.
[Edited on 29-11-2013 by jrsteeve]
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by jrsteeve
u2u me your postcode and email address, i'll send over a rightmove report going back a few years. That should show anything put on the market within a certain radius (would recommend 1/4 mile max) and also some info on sales prices.
[Edited on 29-11-2013 by jrsteeve]
cant he do that himself
http://www.rightmove.co.uk/house-prices.html
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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Yea I've done all that. Properties local to our estate are not compareable. They are all very old or council houses. I'm on a new estate right next to the hospital. Which attracts mainly doctors to buy/rent.
Adult GiftsClick here to vist us
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jrsteeve
Member
Registered: 3rd Apr 02
Location: Manchester
User status: Offline
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Nope, doesn't show what's been marketed, when, what price and if it sold.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Propertybee probably will?
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jrsteeve
Member
Registered: 3rd Apr 02
Location: Manchester
User status: Offline
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Christ I give up then.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Christ, let the guy help him out if he can 
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Without any rood rage replies, what is jrsteve able to do that no one else can, do you work in the industry and have access to some intranet?
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Rood rage reply?
Steve owns an estate agent, so he may very well have access to resources that others don't. Besides, he's offering his services for free, don't really see why it's a big issue.
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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It's no issue to me lol. I've sent him what he needs.
Adult GiftsClick here to vist us
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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quote:
Originally posted by Brett
Steve owns an estate agent, so he may very well have access to resources that others don't. Besides, he's offering his services for free, don't really see why it's a big issue.
Thats why I was asking. No issue, just now his post makes sense.
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jrsteeve
Member
Registered: 3rd Apr 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Marc
quote:
Originally posted by Brett
Steve owns an estate agent, so he may very well have access to resources that others don't. Besides, he's offering his services for free, don't really see why it's a big issue.
Thats why I was asking. No issue, just now his post makes sense.
Lol no worries, sent the report over to Dan, should be enough to get the valuation up. Indeed I run an agency so do have access to marketing information that most surveyors and banks don't.
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