independent property evaluation

D

darrenmc

Guest
I have two questions

1. Has anyone got an independent evaulation on an AH property other than the one the bank did for the mortgage as if so did they differ?
2. Who did you use?

My bank did an evaulation for the mortgage but I got the feeling that as long as the mortgage was covered they weren't too pushed about the actual market value put on it by the council. I think the market value is overestimated and am wondering if it is worth my while getting an independent one done.
 
Re: independant property evaluation

Hi darrenmc,
Yes i think it is worth your while. Accurate valuations are nigh on impossible to get in the current market, there aren't enough sales and the market is changing constantly, the valuation you get this month will be out of date next month.
The only accurate way of getting an accurate valuation is to sell up, the sale price is the current valuation, DCC have confirmed that they will accept whatever the sale price is as a valuation. If you're not going to sell I would hold off on buying the Council out, if that is what your query relates to, you're the one who is going to lose out financially if it is overvalued.
best of luck with your decision.
 
Re: independant property evaluation

thanks anna lee. its actually in relation to whether to buy an AH I have been offeerd. really like apartment and area but think maybe if I hold off I could buy on open market, escpecially as clawback is higher than I think it shouldbe
 
Re: independant property evaluation

Hi again darrenmc,
I suggest you have a look at the propertypin.com, it might convince you what to do or not to do. hth
 
Re: independant property evaluation

Has anyone got the name of a company that does independant valuations for individuals rather than just for the banks etc? Thanks
 
Hi DarrenMc
Did you have any luck with getting someone to carry out an independent evaluation....any idea how much it'd cost? Im in the same boat...offered a 2 bed apartment with DCC...MV is quoted at 375K....they're having a complete laugh with that one in my opinion. Granted the apartment is in Fairview so very close to town etc etc but they're on Sherry Fitzgerald as "from €350k". I should also point out that my offer is a ground floor....and my clawback is coming to 32%.
Have you read the Marrsfield posters as they've had the same issue with extremelly optimisitic market values. My 375K must've been valued back in the "hay-day" as I was also offered a 2 bed in belmayne (ground floor again) and this came in at 330K MV....slightly more realistic I think.
 
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