HOUSE VALUATION....?

Question

hello.

just wondering how the valuer's value a house lol, we need to say ours is worth £132500 to get a 95% mortgage when we remortgage(we got 100% to start with) iv been on an online valuer and it says its worth £130000 will they say its worth an extra £2000?

thanks for any help i know this might sounds silly

xx

Answer 1

Most estate agents will give you a free valuation on your property. A good valuer should work with comparable. They should have before visiting you found properties like yours, the price that they were marketed at and the price that they achieved. This plus a physical inspection of the property would indicate the price for the property. If an on-line valuer gives you the above figure, they could be working with generic open comparable, a local valuer visiting the property might give a different valuation based on the information they reference and what they see.

Answer 2

It makes no difference what you or an online valuer says. All that matters is what the lenders valuer says.

Answer 3

They should all be pretty close, so if you hire one on your own, he shouldn't be that far off from the banks.

It's pretty easy to raise the value of a property, such things as fresh paint, nice landscaping, all sorts of eye-candy can increase the value.

I don't know about your area, but here we have rental stores to rent furniture. You can even rent some high end, newer appliances for a week, so the appraisel sees new ones, that would even give you a boost, assuming yours are old.

Do a google search for inexpensive ways to increase property value, I'm sure you'll find something.

Answer 4

You will probably get lucky.  The bank doesn't want to waste all their time and effort and lose the loan over 2,000.

Answer 5

Buy a £2000 chandelier.

Answer 6

get an appraisal and you will know