Estate Agent Valuations
Oct 6th 2003, 2:43 pm
#1
Lost in BE Cyberspace
Thread Starter
Joined: Oct 2003
Posts: 22,105
Estate Agent Valuations
I asked this question on Marriage Based Visa forum and it was suggested by a moderator to take my question here. I've copied the original question and I hope it makes sense to someone.
I've looked on several posts and haven't come across this subject exactly. We are doing DCF and are in the final run up to my husband's visa. We are using our house as our asset. We have just currently put the house on the market and had several estate agents round to value the house, speak smarmy talk, etc. Almost all of them sent letters back stating what the house could be put on the market for. Is this a valid valuation to take on the interview? For example, one estate agent wrote " In my opinion....blah blah.....your house should be put on the market for £ xxxx pounds." Does it actually have to say, we value the house at this amount? Sorry if I'm not making any sense. Its all very complicated, but would love a response by someone who has been through the mess. Thanks in advance!
Sorry if someone thinks its a repeat, I've honestly searched the threads and didn't come up with this subject.
I've looked on several posts and haven't come across this subject exactly. We are doing DCF and are in the final run up to my husband's visa. We are using our house as our asset. We have just currently put the house on the market and had several estate agents round to value the house, speak smarmy talk, etc. Almost all of them sent letters back stating what the house could be put on the market for. Is this a valid valuation to take on the interview? For example, one estate agent wrote " In my opinion....blah blah.....your house should be put on the market for £ xxxx pounds." Does it actually have to say, we value the house at this amount? Sorry if I'm not making any sense. Its all very complicated, but would love a response by someone who has been through the mess. Thanks in advance!
Sorry if someone thinks its a repeat, I've honestly searched the threads and didn't come up with this subject.
Oct 6th 2003, 3:01 pm
#2
BE Enthusiast
Joined: Feb 2003
Location: We're here!
Posts: 768
Re: Estate Agent Valuations
Hiya
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy!
I know in the US it is more of a formal document, like a survey that you get from a real estate broker when he does a valuation and you have to pay a few $$ for it, but I think the embassy must realise with all that they see, that it does not work that way in the UK. Hope this helps.
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy!
I know in the US it is more of a formal document, like a survey that you get from a real estate broker when he does a valuation and you have to pay a few $$ for it, but I think the embassy must realise with all that they see, that it does not work that way in the UK. Hope this helps.
Oct 7th 2003, 7:11 am
#3
Lost in BE Cyberspace
Thread Starter
Joined: Oct 2003
Posts: 22,105
Re: Estate Agent Valuations
Originally posted by whatever
Hiya
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy!
I know in the US it is more of a formal document, like a survey that you get from a real estate broker when he does a valuation and you have to pay a few $$ for it, but I think the embassy must realise with all that they see, that it does not work that way in the UK. Hope this helps.
Hiya
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy!
I know in the US it is more of a formal document, like a survey that you get from a real estate broker when he does a valuation and you have to pay a few $$ for it, but I think the embassy must realise with all that they see, that it does not work that way in the UK. Hope this helps.
Oct 8th 2003, 12:41 am
#4
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: Estate Agent Valuations
Originally posted by whatever
Hiya
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy! ....
Hiya
I just dug out the copy of the letter from our Estate Agent. On their letter head and signed it reads, 'Thank you for giving us the opportunity to value your property. As discussed during our visit, we feel that a price in the region of £blah.... would be a realistic assessment of the value of your property at this time.'
We took this to the Embassy at our interview and they glanced but didn't even want a copy! ....
I obtained a similar letter from a local estate agent near my house in London. The truth of the matter was that the agent didn't even visit my house - he knew was familar with the area and knew what it would sell for even in poor condition.
I showed the letter to the US embassy staff and Bob's your uncle, though I should point out that, net of the outstanding mortgage balance, it gave a very comfortable margin over the level of assets we were need to prove allowing for our income level. It may be harder if the valuation less the mortgage balance is close to the assets you need to prove.
