I bought a house 5 years ago on a 75% 25% split, at the time the sales women explained it that doing it this way would help with the deposit, and all we had to do is within 10 years if we decided to sell the house they would get there 25% back from the sale of the property or when we re-mortgaged we could give them there 25% back as long as it was within the 10 years. ive been trying to get hold of the relevant department for weeks to speak to and left countless messages, as my fixed mortgage has come to an end and decided to put the house up for sale and look to move. ive come home from work and today received a letter from them explaining as I have my house up for sale (I told them this in the messages I left),for them to release they 25% equity I have to pay their reasonable legal fees of £325 + vat (they referred me to look at the small print of my deed which ive done and it does mention this but not the amount) but they've also stated that they request that 3 valuations are undertaken at the property? this wasnt stated to me at the time so im going to phone them in the morning again but reading what they've put do they expect me to pay for the 3 valuations which being the 75% owner feel like telling them to get ****ed, ive had 1 valuation from the estate agent ive got it up for sale but no where in the small print does it say I would have to do this and they never mentioned it at the time. does anyone know where I stand with this?
I'm in the same boat, and the process sounds very similar. My developer was Crest Nicholson. I think I have to get 2 valuations from a surveyor - estate agents don't count. I only need a third if they disagree. The good news is that surveyors' valuations usually come in below the 'asking price' that an estate agent would set.
cheers flash, ill phone them in morning their letter states they was 3, and if they aren't happy with the valuations they a 4th valuation will need to take place where both parties will pay for. my developer it gladedale do u know how much a surveyor charges?
