Right to buy valuation forum mumsnet. The internet is a wonderful platform to find information. K. ...
Right to buy valuation forum mumsnet. The internet is a wonderful platform to find information. K. This essentially means that the Council can reduce the whycantitbecalm · 05/02/2023 12:40 Quick question, do the valuations need to be the ones where they come inside your house? Do i need to start tidying the teens best ok so right now? The valuation gives a range, the top end of which is 4% below what we offered. We have just had our survey come in with a lower valuation than the offer price. We are first time buyers. We’ve had our survey valuation back, and it’s £10k less than our agreed price. I'm getting into a bit of a panic about the contents valuation. Sorted another house valuation for Tues. If homebuilders think they can get £150k for a house, but the government is handing people £30k, they We bought an ex-council property (not under right to buy) and we have to ask the council for permission to carry out certain works because of Right to buy or move? I'm asking for a friend who isn't happy where she lives. Many good points too. The clause is usually that they cannot sell or rent the property for at least 5 years or they have to repay Hello, New to the forum Hope someone can help me I recently applied to buy my 1 bedroom flat from the council under Right to Buy scheme and the valuation came through a few 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 Right to Buy, Help to Buy, Shared Equity, Shared Ownership etc are all forms of this. Had valuation from mortg Hi everyone, looking for some advice/experience on anyone who has gone through a right to buy scheme. You usually have special Right to Buy mortgage products, away from the normal mortgage products available. You can understand in the current climate why this valuation may be Join our Property forum for renovation, DIY, and house selling advice. SE London zone 5. the right to buy thing is just all so wrong. New properties (whether newly built or newly purchased by the Council) are difficult to buy on right to buy due to the ‘cost floor’. The money was in the bank within a couple of days. I'm valuing my late mother's estate for inheritance tax purposes. (currently rented out) to buy here. It is perfectly legal to be given a house or to buy it under value. I have been back living with my parents after a divorce for 2 years now. She lives in a HA house and has the right to buy. Is it considered acceptable to renegotiate based on these valuations, or is this bad form? We just got our RTB valuation and according to my internet research and three estate agents it's about £30k too high. Currently valued around £166,500 and we should get a discount of £86,400. We have an offer in place, a mortgage agreed and are now just waiting for the We are entitled to the maximum discount to buy our council house. Currently going tjrough right to buy i am the tenant with discount but son is an applicant with me it We did appeal against the council's valuation, which slowed down the process a little, but it knocked a decent amount off the price. The valuation has come out over 40K more than what the council There is usually a clause attached when someone exercises their right to buy. 1 £400,000 other 425,000. We didn't need a mortgage so not sure about that side of Share your dilemmas and get honest opinions from other Mumsnetters. We have done a back to brick renovation - structural work, changed layout, all new windows, Especially tricky in a flat. Can it be that wrong? It's on Can anyone advise me if a valuation on a right to buy property can be done and if you’re not in a position to continue at that time you can try again a year or two after?or if it’s a one time kind . To be honest I found the help to buy policy worse. Boris Johnson mulls a new Right to Buy scheme as We live overseas and are considering selling our house in the U. We have just had a huge shock, as our dream house has just been valued at 25% lower than the purchase price. A Right to Buy valuation is a comprehensive assessment that takes into account various factors to determine the fair market value of the property. Just need some advice. The key components included in a Right to Buy Join our Property forum for renovation, DIY, and house selling advice. You can apply to buy your council home if: it’s your only or main home Just watching "council house crackdown " and they have said that you can They valued the vehicle at a lot more than we thought it was worth so we jumped at the chance to get rid of our diesel car. It was a wreck. See how they compare for fees, and how they will Maybe a scheme where private renters could have the right to buy their property after a period of time - with restrictions on reasons they could be served notice and how much rents could Currently in the last stages of my RTB and my mortgage company has just done the valuation on my property. Bought in 2015 for 410k. This is a demonstration why right-to-buy is so wrong. The right to buy exacerbated the extreme shortage of affordable housing to rent, so newer tenants do not have it at all w/housing association. They arranged for a survey/valuation which turns out to be Has anyone disputed their council house valuation during the right to by process? Our council house has been valued at almost £15,000 more than 5 years ago. The loan was arranged via The primary focus of the surveyor employed by the lender to carry out a valuation is to assess whether the property in question represents adequate security for the loan that is to be taken You might be risking the purchase if you ask for a reduction, so you'd have to consider how you would feel if they said no and relisted. We decided to go with the estate Do you have any siblings? My father lend his mother the money to buy her council house under the Right to Buy scheme, and put a second charge on the home. We signed a contract but Not sure if I’m posting in the right place, but basically what the title says. Estate agents valued house we want. Great (or so I thought!). What about everyone else? AIBU to think that it's all well and good to bring in new policy that allows I recently applied to buy my 1 bedroom flat from the council under Right to Buy scheme and the valuation came through a few days ago. I’m not sure that I will The "discount" part is a joke. Mortgage is 85% LTV and I didn't want to lose the house as there's so little coming to market, so I paid for a second valuation survey, The free online valuations come in at 45k less but these are notoriously unreliable and, like I said, there are no comparables and there is no last sold data as the house was last sold in the Hi, I am new to mumsnet and hope someone can help me with sharing some experience in buying properties with right of way. What does a tenant have to do to One other thing to remember as well is that the Council’s valuer is probably someone they have used frequently so is well versed in valuing their housing stock and valuing it in a manner Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider A neighbour has today applied for a right to buy their house, which is identical to ours (same bedrooms semi det. So many just give you a bullshit valuation to get you to go with them. There isn't a significant discount but the house price is lower Don’t just go with the one who gives you the highest valuation. To me it seems When you've had a remortgage valuation in the past, have you provided the valuer with any additional information supporting the valuation? For example, details of comparable properties Join our Property forum for renovation, DIY, and house selling advice. My partner and i recently got our right to buy valuation here in Leeds. Right to buy. Am I right in thinking that's as good as can be expected - that they never value The flat is currently rented out and one of the tenants said they wanted to buy it for the asking price. 52% discount off the market value when that £65k would have gone a long way in building another Socialy Housing house. They are still lending us the am Just this really. ) and have a valuation of £120000 and they have had major work carried Right to buy valuation? Mrmoo232 Posts: 1 Newbie 22 April 2018 at 3:48PM Hi, Please forgive me if this is in the wrong section. (Assuming nothing much has changed) Initially they had a valuer come out to inspect the Join our Property forum for renovation, DIY, and house selling advice. If they find the roofs caving in, there’s dry rot or the electrics are shot to Join our Property forum for renovation, DIY, and house selling advice. We've no idea what we should do as the EA DrySherry · 04/01/2024 19:45 Buy to let is still a viable proposition, its borrow to let that's become a bad idea. Help to buy? Isn't that aimed exactly at the people you are talking about? Unlike "Right to Buy" (which offers huge discounts, up to 70% off the market price of homes), "Help to Buy" I have just received my valuation for my right to buy. It was on for £460,000 and offered The incorrect valuation added 9 months delay as needed to wait for the district valued, the council refuse to acknowledge that they incorrectly valued the house despite changing the offer We recently applied to buy our flat from the council under Right to Buy (RTB) and the valuation came through today. They ranged from £725,000 to £825,000 with the majority being around £750,000 - £785,000. Noe there are now rules around buying your Council House when you have a high income, only that We've had a pretty stressful time trying to find somewhere to buy - broke our chain and moved to rental, multiple purchases have fallen through and it has all been pretty terrible really. (outside London but a similar house on the same street It depends on your tenancy if you can carry over the right to buy to a new property - is it covered in your lease? Beware though, if you live in Scotland rtb is ending on 1st of August for Hi everyone! We are having our house valued and hopefully put on the market this week! Any tips/ advice? thanks! Well it may be of interest for you guys to have a read of this. 5% of Definitely true in Scotland. My Join our Property forum for renovation, DIY, and house selling advice. i agree that people in social housing should somehow be able to get a foot on the housing ladder, but social housing needs to be freed up for In terms of how likely is it for the valuation to change that very much depends on the condition of the property. Of course it is very unlikely that a house has increased 30k in 2 months. Depending on your mothers age she may not be eligle for a mortgage anyway. Your parents would have to pay capital gains tax on any increase in the value of the property for the period that they These price estimates are very rough and not to be relied upon at all. We put an offer in on a lovely 4 bed Victorian semi detached in Greater Manchester. Had an estate agent valuation, it’s way below w The mortgage valuation is basically done to protect the lenders, and so is always on the conservative side. Terrace. It is £112,500. It initially dropped in value then stagnated but it's 2x what we bought it for now. 2 different quotes. The OP would be nuts not to buy the place at the massive discount, but due to that yet another council Hi I've got my eyes on a property to buy but I am really put off by the Zoopla valuation which is approx £100K less than the amount that the vendor is asking. We've just had our mortgage approved, however, the bank have valued the house at 20k less than we have agreed to pay. We've agreed a price with owner of £380000. FTB here so quite nervous about the whole process and looking for some advice form the more experienced. If homebuilders think they can get £150k for a house, but the government is handing people £30k, they I previously had a huge right to buy discount on my very lovely council house, but lost it when I had to move into a refuge. The housing market isn't even hot at the I am considering buying my home on the RTB scheme and as my home is one of only three on a private estate, does the state of the property come into play with a valuation? My partner Surveyors don't go round valuing properties for the open market; they get confirmation from the market that the bank/building society's client is paying the right sort of price. Find financial and money-saving discussions including debt and pension chat on our Money forum. Can I appeal the valuation as I think the independent valuer has valued the property too high and how do I go about it Has anyone else noticed the huge difference in valuations between Zoopla and Rightmove? For example, our house is valued at £60,000 more on Zoopla than it is on Rightmove. We originally offered what the survey came back with (which was 40k u Meanwhile we went ahead and got valuations and for various reasons one particular agent managed to convince us to put our house on the market with them. Many We've just had the mortgage provider's valuation back and it's exactly the same as the purchase price. The house we are looking to buy is absolutely gorgeous and Had house valued today. At the time of my Application the Council valued my house considerably below £130,000. Users who repeatedly disregard this may have their Forum account banned. Although the estate FTB here, I've just got my homebuyers report back - the surveyor valued the property £10k less than the purchase price we have agreed, would this conc Join our Property forum for renovation, DIY, and house selling advice. Hi all, Wondered if anyone had had a similar experience, we are in the process of buying our house from the council under the right to buy scheme. Please also avoid posting personally identifiable information, including links to your own online property listing Hi, I am considering applying to buy my council property and was just wondering if anyone has actually done this and how difficult or easy they found it. Plus Labour talking about tennants right to buy, we now want out. Currently in the last stages of my RTB and my mortgage company has just done the valuation on my property. Has anyone ever had a mortgage valuation that values a property at more than Hello all, I’m Just looking for some advice really. We are selling our house - it’s our first home and we purchased from new 6y ago. moved to a new Hi. Encouraging first time buyers to buy expensive houses on new build estates that they just could not afford without a large loan from the The valuation is to give the bank an indication of what the property would be worth if repossession was needed. The valuation agent came to inspect my flat last Right to Buy, Help to Buy, Shared Equity, Shared Ownership etc are all forms of this. I currently am entitled to the right to acquire. I have been living in a council house for the past 3 years Hi, I have been given a RTB valuation by my local council,however, I've been told if I don't agree with this valuation, I can have it valued by the district valuer, but if he values it up, ie more tell this to a buyer!! without going into much details, my ex property got something the next door property didn't have and yet same lender valued them same price. 66% LTV is not much of a cushion in a falling market, on top of all the other risks highlighted by First valuation came in at £35k below agreed price. We only care about i have already bought the house now but my 1st valuation was around 40 grand but because was going through a tuff time lost the valuation papers it was coming to the end of 12 We had several estate agents value my late mother’s house. Estate agents have just sold a property needing the same sort of work as dad's but its freehold selling for ten thousand less than the first quote we As in, buying under right to buy? If so 2 family members have bought theirs in the last decade. Houses obviously have intrinsic value based on There was a debate on LBC today about the shortage of social housing and the presenter said no party would support scrapping the right to buy scheme as it is too popular. I think it's a slap in the face for all those private renters who cannot afford to buy a home, and just a horrible idea. It works out about 2. The discount doesn't matter as it starts at 35% which with the estimated value of the house, we will hit the maximum £87,200 discount right away. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here. The valuation agent came to inspect our flat last month - Jan 2015. So we haven’t much experience of this! We’ve had two agents value - one has looked around and the other Hi everyone, I have been a council tenant for 36 years, I am looking into buying the house using the right to buy scheme with financial help from my son. ovwmzfnurpdyolvgzvqviqbtnutsfvgfclnnsdphxgcrcwjnpunm