Best Way to Value a Property to Purchase

[TUSKAR]

I was wondering the following: I am interested in buying a property in the countryside, presently about 3/4 built and builder awaiting buyer before doing any more work.

The auctioneer is valuing it at present at around 245k mark for builder finish. I know from a third party he would take less and actually finsih house to beyond builders finish.

My query is, is it possible to get a different auctioneer to value it , from website and other information i know about property, is this unethical. Bascially i like to get a house valued without the builder and his present auctioneer having any knowledge about it

The main reason i like to get it valued independently is to see how much the bank would value it at, when i go for a mortgage and to have a real understanding of the true value in todays climate.

I afraid say to offer 230k builder accepts and them bank values at 185k. Personally i have no idea how to value a property into-days climate.

 

[mathepac]

You need to get the property valued independent of the vendor's price or views, but as it is currently someone's property, you need their agreement.

The difficulty you face is that a lender attempting to value it in its current state may come back with a very disappointing figure or may refuse to value it for a mortgage at all.

I doubt if you will get a valuation based on the property being in some hypothetical "projected state" at some unspecified time in the future (unless Data or Mr Spock are now EAs )