Selling: RICS valuer undervaluing by £100,000! What do to increase it?
We are selling our flat and have some valuations: Estate agents valuations: £650,000. RICS valuation: £550,000. We have to use the RICS valuation as we are required to by our housing group, who have the right to look for a buyer for the first 8 weeks and only if they don't find a buyer can we go with an estate agent on the open market. We need the RICS valuation to be much closer to that of the estate agents valuation, or we'll be missing out on the full value of our property. Currently it's £100,000, less which is absolute madness! I've told the RICS valuer to talk to one of the estate agents in the hope will convince him to raise the valuation because the estate agent will have more up to date information. I've also found similar properties that are on the market for significantly more and sent that to the RICS valuer in the hope that helps bring his valuation up. What can we do to get the valuation much closer to the estate agents' valuation?
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