david chigodora

BMV query

3 posts in this topic

Hie everyone fairly new to the property world would love some advice. Thanks in advance Quick question about BMV sourcing. For valuation purposes is using zoopla rightmove etc sufficient or a surveyor is a needed and generally speaking is 15% the minimum requirement for a BMV deal

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Hi David,

 

I would check the following to size up if it is actually BMV..

 

- Check the Land Registry prices on recent sales on indentical units.

- Check on Rightmove the properties for sale and include Under Offer, Sold STC...

- Check current condition (Take a tradesman with you and cost up any work needed)

- Survey will confirm/dismiss your valuation.

 

What you deem BMV is your discretion but i would say aim for 20% minimum

 

Thanks

 

Greg Ashall

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