A Worcester-based housing association is considering taking legal action against a local valuation service after it provided “confusing” advice over the price of a house it sold to a part-owner.

Sanctuary’s grievance arose after one of its shared equity tenants attempted to buy the outstanding 50% of her house.

The remaining equity in the property was initially valued at £34,000 – a figure that the tenant, Yvonne Ingram-Kerr, contested. A second valuation service was called in and, after offering a number of different valuations, put the price of the 50% share at £20,000.

The confusion over the value delayed the sale for six months. The 50% share in the house was eventually sold for £20,000.

Sanctuary paid Ingram-Kerr £1600 for the delay to her application.

Kevin Lowry, Sanctuary’s regional manager for the Midlands, said: “We are looking into recourse against the [second] valuer because of their changing and confusing valuations.”

He could not name the company for legal reasons but Sanctuary’s solicitors expect to contact it within the next few days.

Sanctuary has also launched an investigation into its internal valuation procedures.

Ingram-Kerr has made a complaint to the independent housing ombudsman.

Source

Housing Today