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Estate agents valuation based on extensions without planning approval

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  • Estate agents valuation based on extensions without planning approval

    The house is being sold (£320,000) with loft and outbuilding extensions.
    Neither of which have any planning permission/ building regs.
    In fact the loft conversion was rejected
    --
    Both were built more than 5 years ago- so no council action is likely.
    --
    The surveyor will not take into account the extensions while s/he is doing the report due to the lack of planning permission-
    They will report a value of £290,000
    The bank will only lend based on the surveyors valuation.
    The vendor and estate agents valuation is based on all the extra extensions.
    How can I request the estate agents to lower their selling price??
    Is it ethical for the agency to market a property which has an inflated price?
    Can I complain to the ombudsman/etc?
    Is it illegal for them to market a property which they know to be over-pricd?

    --
    Many thanks for all your comments

  • #2
    Re: Estate agents valuation based on extensions without planning approval

    Originally posted by anilinlondon View Post
    The house is being sold (£320,000) with loft and outbuilding extensions.
    Neither of which have any planning permission/ building regs.
    In fact the loft conversion was rejected
    --
    Both were built more than 5 years ago- so no council action is likely.
    --
    The surveyor will not take into account the extensions while s/he is doing the report due to the lack of planning permission-
    They will report a value of £290,000
    The bank will only lend based on the surveyors valuation.
    The vendor and estate agents valuation is based on all the extra extensions.
    How can I request the estate agents to lower their selling price??
    Is it ethical for the agency to market a property which has an inflated price?
    Can I complain to the ombudsman/etc?
    Is it illegal for them to market a property which they know to be over-pricd?

    --
    Many thanks for all your comments
    Ask them to and provide evidence if you have survey report.
    They can market the property for any price they like - not unethical just stupid
    Complain if you like but don't think they would entertain it. Would you complain if it was under priced ?
    Not illegal. Nor is it illegal to under price provided it is with the sellers permission.

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