/ If I am a homeowner and I sell my home to the Council how would the value be determined?
If I am a homeowner and I sell my home to the Council how would the value be determined?
The Council will employ a surveyor to estimate the Open Market Value, which is the amount of money that your property would achieve if put to sale on the open market (a freely competitive environment operating without any restrictions). Any positive or negative effects on value caused by the redevelopment are not taken into consideration. You can employ your own surveyor to help you assess the value of your property. In order for a sale to proceed, you and the Council will then need to agree a sale price. The Council will reimburse you for reasonable surveyors’ and legal fees, when the sale of your property has been finalised. This ensures that a homeowner is professionally represented in the matter of valuation and also the disturbance claim. Before employing a surveyor or a lawyer, you need to obtain our approval for your legal and surveyors’ fees.