Remote Property Investor

Down Valued Property

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What should you do if your property is down valued and you disagree with the given estimate? Harvey recounts how one of his properties has been down valued and what action he is taking to rectify the situation and get that valuation increased. 

KEY TAKEAWAYS

  • Agents are not allowed to disclose the sold price of any properties they have marketed similar to yours in the area. You can, however, tell them your estimate and ask them to tell you roughly if it is place too high or too low.
  • If you are fully aware that your property has superior accommodation to one in your area sold at a higher price you can trust that your right and that yours is worth more. Check online.
  • The surveyor should, especially in volatile markets, be phoning agents to ascertain recent values. If they do not, gather this data yourself and present it to them. They rarely back down, but it is worth trying.

    • BEST MOMENTS

    ‘I say to them “I know you’re not allowed to tell me the price. Would you mind just giving me an indication as to roughly if I’m in the right ball park figures?”. They’ll usually tell you if you’re too high or too low.’  

    ‘The surveyor came in and valued it at 170k, 30k lower than what the market value is. I looked online as well and within a quarter of a mile there’s no 3 bed, all the the 3 bedrooms, though slightly better roads, are over 210k. So mine being 20k to 210k was very realistic.’

    ‘It does show that you should challenge these sometimes. Its absolutely ridiculous that a surveyor would value it so low as at the moment we’ve got no signs of any collapse of the housing market.’

     

    EPISODE RESOURCES

    How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J

    The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051

    Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P

    VALUABLE RESOURCES

    💻| Join us in our remote property investing Community on Facebook

    📚| Live free training & Q&A every Sunday in the Community. 

     

    ABOUT THE HOST

    Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property.

    With education, portfolio building, and property management. 

    He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly. 

    Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs. 

    His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint.

    I help people to live on their terms through property & Coaching and portfolio building. 

    I’ve spent the last 7 years working out how to run my property business virtually from my phone. 

    Using tech to run my business while I’ve been travelling. 

    DM me clubhouse if you need help with this. 

    CONTACT METHOD

    👓| Find me on Facebook 

    👓| Find me on Instagram

    👓| Find me on YouTube 


    👓| Find me on TikTok

     

    This show was brought to you by Progressive Media

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