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You can normally pay a surveyor a couple of hundred to do a valuation survey, equivalent to what they would do for a mortgage.
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I did a similar thing with my brother last year - we got three different estate agents to value it and give us a range 'from x to y' - then averaged this out. We also asked them to be realistic considering that the market has slowed down recently.
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A friend did this a few years ago when their tenant (also a mate) wanted to buy the flat.
They put it on the market as if it was legitimately for sale, did some viewings and waited for offers.
Then they took the estate agent's fees off the highest offer (i.e. what they'd normally accept) and sold it at that price that to the tenant. -
I did this when I bought out my then-partner from our house (I do not recommend this experience).
We got half a dozen estate agent valuations, tossed out the top and bottom one, and averaged the rest.
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Sam_w
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@cjr
Question for the hub mind - I own a flat 50/50 with my brother. I'm looking to buy some of his half from him so I have a bigger share (He has bought with his wife). We are both happy to do this and it's just a case of getting a valuation.
How would you go about getting an accurate valuation of the property?
I was going to get a number of estate agents to value it, remove the highest and lowest then average the rest. But do I tell them I'm not actually selling? I want an accurate value, not a 'we can get you xxx'.
I don't think there are enough similar flats sold recently to go on sold prices.