Valuation of FMH

Hi Ambel,


Can I intervene here??

I would highly suggest you get a proper valuation done by a bona fide surveyor and share the cost between you.

There was a vast difference between what OBE put his valuation of the property at and what his ex put it at. There was also conflicting valuations from estate agents and actually if you come up with a good enough story to an estate agent about needing a quick sale you can sweet talk the Agent to undervalue because most of them are either themselves or know someone to be in the market to make a quick killing on investment properties!!! Also Agents are falling over themselves to put properties on the market for slightly less than market value at the moment so that they can sell them quickly to get their commission as property has gone very slow right now and they need the business!!!

No Ambel please don't get Estate agent valuations!

Our report cost just £75 each and it was a totally unbiased report and was in no ones interest to make it any different!! Even if it cost you £200 split between you and it must be shared, it would be money well spent because there can be no arguments! The courts prefer these reports too. And, your partner wouldn't have to be present!! One less worry!

Just a thought, hope you are well!

regards

OBEs 1

LOL OBEs canoodly you beat me to it!


Can i just add here............

If it is a joint letter of instruction and it has been ordered by the Courts (which I find unusual ordering estate agents to value, its usually a surveyors report as obe said in previous post!)then the estate agents are answerable to the courts not you, not your partner and certainly not to any solicitor! The letter of joint instruction has to make that clear! It has to say in it that whilst you and blah blah are instructing a joint valuation, please address the report to " Whatever Court, case number" blah blah and please be aware that you can be called upon to give evidence in court! You watch and see how many estate agents turn upto to value the property once they find out that! They wont do it and will give you the reasons why! They are not qualified to value properties!

If you are getting these valuations done free, then my advice is keep quiet, if you arent happy with the result then you have to show the courts why you arent and the letter telling you that "they only wanted your consent to the estate agents will be good enough, especially when you show next door is worth so much more! My bet is you will both be ordered then to have a expert opinion report done by a qualified surveyor at a cost to both of you.

Kind ones
louise

OBEs 1 canoodly wrote:

No Ambel please don't get Estate agent valuations!

Girls, I'm really confused here!? What am I missing???


Surely an Estate Agents valuation the value of what it's worth??? What is the difference of a Surveyors valuation report?

Depends on the estate agent. They are more likely to tell you what you could put it on the market for, and possibly what they think they would get for it.

The key thing though is that they don't take into account the condition except for a surface look around. Think about what happens when you buy a house: you make an offer, you send in the surveyor, they find dry rot and you lower your offer. The estate agent can't look at the true state of the house. They don't have that level of expertise: they are just salespeople.

Thanks for all the replies and very useful information!! I believe the judge ordered 'market appraisals for the property - from 3 jointly instructed local Esate Agents' in order to keep costs down.

I guess we could wait and see what the valuations state and then, if not happy we could request a surveyors valuation?

There's always so much to consider even with what seems like the simplest request!! No wonder I've become an insomniac!!

Oo, I just realised that we still haven't received x2b's statement of issues - it wasn't included with the questionnaire when my partner attended first appointment and the covering letter I have here states it is to follow shortly!!

We're supposed to file and serve replies to the questionnaires by 13th November... should we start chasing the statement of issues?!!

Ambel

Think I may already have clarified this when we spoke but just to re-iterate (and to put a dampner on things!!! sorry!!) We didn't get OBE's ex's statement of issues until 1 hour before the court hearing!! It is tactics played by solicitors. She got OBE's 5 weeks prior. So her and solicitor had all that time to really think about what he was asking (which as usual was very reasonable) and THEN we got hit with hers at last minute (which as usual was totally unreasonable)!!!

YES, keep asking her solicitors for the Statement but not by phone, by post and recorded delivery to prove you did send the letter then clip the recorded receipt to the relevant letter. Make sure you have this with you when you go to court as I know you are self repping.

You must show them to be delaying!!!

I still can't get my head round a court asking for 3 estate agents valuations - they just are not proper valuers. I could walk into an estate agents job tomorrow and be asked to nip out and value a property just after 6 weeks training - know this to be true a friend of mine has just started doing this job and with a very high profile Agents before anyone says anything!!!!

Surveyors on the other hand are qualified with proper certificates etc. They usually have to know everything about a property from the way it is built, designed, the timbers the structure - everything that is why their valuation is more worthy (and expensive unfortunately).

Regards

OBEs 1

OBEs 1 canoodly wrote:

and THEN we got hit with hers at last minute (which as usual was totally unreasonable)!!!

No legal representative will put up with this!

As an LIP in my first divorce, I got the trial bundles, (990 pages!) Just the night before. I told the judge, he 'bollocked' my ex's legal party. Name them, and shame them!

(Sorry, don't know legal term for 'bollocking' in court)!

Just that judge repremanded them, citing that he wouldn't expect a Barrister to fathom 990 pages overnight, let a lone, a frail, dowey-eyed damsel-in-distress that was this poor, LIP!)

I could've requested an adjournement, but by then, I just wanted the whole thing over and done with.