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Michael Holly
Michael Holly, Solicitor
Category: Law
Satisfied Customers: 7042
Experience:  I have 20 years of experience as a solicitor in litigation and other areas
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I am trying to buy a house. The house is valued at £225000

Customer Question

I am trying to buy a house. The house is valued at £225000 hiwever, the seller is acting as a gaurdian fir her father who has dementia thriugh the court process it was agreed that she could sell the house fir no less than £250000. At that time the house was valued at £280000. Can this purchase price agreement now be amended due to the current valuation? Can this be done without much effort on the sellers behalf? Thank you so much, Ronnie
Submitted: 2 years ago.
Category: Law
Expert:  Michael Holly replied 2 years ago.
Dear RonnieYes an application can be made to the court asking to vary the valuation. A new valuation from an independent estate agent/ valuer should be enough.Best wishesMichael
Customer: replied 2 years ago.
Would it requie a lot of effort on the sellers part? Id be asking her to put effort in for less money. She did say she would sell to me for £225000 if she could. She could get the higher amount easily so may be reluctant to change it. What time scale do tou expect it to take? Could her lawyer get a quick response? Thanks
Expert:  Michael Holly replied 2 years ago.
I assume that the relevant court is the Court of Protection who exist to safeguard the interests of people who have dementia etc. and ensure that those who act for them do so in their best interests.The advantage is that they are not like a formal court, a letter attaching an independent valuation would be a good start, as the COP may agree without the need for any formal application.Best regardsMichael
Customer: replied 2 years ago.
The seller has decided not to apply for a change now
Expert:  Michael Holly replied 2 years ago.
It sounds like she has decided she can get a higher price.Michael