Property Valuation Dispute

So, you’ve found your dream home (or perhaps you’re inheriting a property and need a valuation for probate), but there’s a snag: the valuation you’ve received seems way off the mark. Whether it’s a lowball offer from a potential buyer or an inflated figure for tax purposes, a disputed property valuation can throw a wrench into your plans. But don’t panic. Here at Blackstone Solicitors, we’re here to guide you through the murky waters of property valuation disputes.

This article dives into the world of property disagreements, explaining the common reasons for disputes, your options for challenging a valuation, and some handy tips to strengthen your case.

Free Initial Telephone Discussion

For a free initial discussion with a member of our New Enquiries Team, get in touch with us today. We are experienced in dealing with all the legal aspects of a property valuation dispute, and once instructed, we will review your situation and discuss the options open to you in a clear and approachable manner. Early expert legal assistance can help ensure you are on the best possible footing from the start and also avoid the stress of dealing with these issues on your own. Simply call us on 0345 901 0445 or click here to make a free enquiry and a member of the team will get back to you.

Why Do Property Valuations Get Disputed?

Property valuations are, by their nature, subjective. Unlike a box of cereal with a clear price tag, a house or flat’s value depends on various factors. Here are some common reasons why valuations might be contested:

• Market fluctuations: Property markets are ever-changing. A valuation based on outdated data might significantly over or underestimate the current market value.
• Condition of the property: A valuation assumes the property is in reasonable condition. Extensive repairs or hidden problems can significantly affect the value.
• Unique features: Period properties, listed buildings, or quirky features might be hard to value using standard methods.
• Valuation methodology: Different valuers use slightly different approaches, leading to discrepancies in the final figure.
• Negotiation tactics: In some cases, estate agents or other parties might use a low valuation as a negotiating tactic to secure a better deal.

Challenging a Property Valuation

If you disagree with a valuation, don’t simply accept it. Here are some options to consider:

• Negotiate: Open communication is key. Talk to the valuer, estate agent, or relevant party and explain your concerns.
• Obtain a second valuation: Get another qualified surveyor to provide an independent valuation for comparison.
• Mediation: Mediation involves a neutral third party facilitating a discussion to reach an agreeable valuation.

In some specific situations, you might also consider:

• Formal complaint: If you believe the valuation is due to negligence or misconduct by the valuer, you can make a formal complaint to their regulatory body (RICS in the UK).
• Legal action: This is a last resort, but in rare cases, legal action might be necessary if other avenues fail and the disputed valuation causes significant financial loss.

Tips for Strengthening Your Case

Whether you’re negotiating or pursuing a formal complaint, here are some things you can do to make your case for a more accurate valuation:

• Gather evidence: Collect documents supporting your position, such as recent comparable property sales in the area, receipts for any major improvements to the property, or reports highlighting unique features.
• Understand the valuation methodology: Do some research on how valuations are typically conducted. Knowing the process can help you identify potential flaws in the initial valuation.
• Seek professional advice: A solicitor specialising in property law can advise you on the best course of action and represent you in negotiations or disputes.

Blackstone Solicitors: Your Property Valuation Partner

Property valuation disputes can be stressful, but with the right information and support, you can achieve a fair outcome. Here at Blackstone Solicitors, our team of experienced property lawyers can help you navigate the complexities of valuation disputes. We’ll:

• Review your case: We’ll assess the situation and advise you on the best course of action based on the specific details of your situation.
• Communicate effectively: We’ll handle communication with valuers, estate agents, or other parties involved in the dispute.
• Protect your interests: We’ll act on your behalf to ensure a fair and accurate valuation of your property.

Don’t let a disputed valuation derail your property plans. Contact Blackstone Solicitors today for a free initial consultation and let us help you achieve the valuation your property deserves.

How we can help

We have a proven track record of helping clients deal with property valuation disputes. We will guide you diligently and ensure all checks are carried out swiftly and efficiently and we firmly believe that with the right solicitors by your side, the entire process will seem more manageable and far less daunting. You can read more about the range of construction law services we offer by clicking here: https://blackstonesolicitorsltd.co.uk/construction-solicitors/

How to Contact Our Construction Solicitors

It is important for you to be well informed about the issues and possible implications of a valuation dispute. However, expert legal support is crucial in terms of ensuring a positive outcome to your case.

To speak to our Corporate solicitors today, simply call us on 0345 901 0445, or click here to make a free enquiry. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.

Authored by Ben Posted in Blog, News Tagged as

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