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Ash, Solicitor
Category: Law
Satisfied Customers: 10914
Experience:  Solicitor with 5+ years experience
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I have to pay a contingency fee of 1% of the OMV. The agents

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I have to pay a contingency fee of 1% of the OMV. The agents for the landlord believe the value is £80,600 and have sent me a list (from 'Mouseprice') of 12 recently sold properties in the same development, all 'worth' and with no details of 'price paid' £80,600 and without reference to the fact that 10 of the properties have 2 bedrooms, and my property has 1 bedroom. Their letter informs me that should I not agree with their valuation, I need to send sufficient proof from a certified surveyor. My own investigation on line reveals that no one bedroom properties have been sold recently for more than £70,000 and that 'mouse price' consistently inflate property values. What should I do?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello m y name is ***** ***** I will help you.
Just to be clear what is OMV? Have you had any second opinions as to this value?
Customer: replied 1 year ago.

Hi Alex,

OMV is Open Market Value. I've not had second opinions, but it's clear that the 'mouse price' sheet they sent me is inaccurate as they value 1 and 2 bedroom flats the same.

Their listing of recent sales give 'worth' but under the column 'price paid' they leave blank. They give their idea of the value of my property from this poorly thought out mouseprice web site, yet ask me for a certified surveyor's letter.

Expert:  Ash replied 1 year ago.
You have two options:
1) Get second opinions from other estate agents
2) Agree to appoint a surveyor to give a market value
You can insist this takes place if they chose to inflate the prices. This will then give you a realistic price.
Can I clarify anything for you about this today please?
Ash, Solicitor
Category: Law
Satisfied Customers: 10914
Experience: Solicitor with 5+ years experience
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Expert:  Ash replied 1 year ago.

I am just following up to see if there is anything else I can help with?

If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.


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