Professional Negligence Claims
It has become clear in recent months that certain types of properties, often two-bedroomed, city centre apartments, frequently purchased directly from the developers, have been sold at what can best be described as inflated prices. Whether this was as a result of the huge demand in the market or as we feel more likely, issues with the accuracy of the initial valuation, remain to be seen.
There is a widely held belief that certain surveyors either deliberately or negligently mis-led buyers by supplying inaccurate valuations. In light of this we have joined forces with a specialist solicitor's practice. The Claims Advice Centre has instructed a panel of independent surveyors to carry out retrospective valuations and initial findings are encouraging, indicating that significant overvaluations occurred at the time of purchase.
The noticable adjustment that is currently taking place in the housing market has to some extent masked problems with valuations but we feel an opportunity exists to initiate a claim for your losses against your surveyor. Your claim may be made up of capital loss and also the shortfall in rental income. The Claims Advice Centre is currently managing a number of claims, typically claiming in excess of £40,000 per property.
The Professional Negligence claim service has been launched to enable you to investigate your individual circumstances. Providing that your circumstances meet the claim criteria their specialist team of solicitors will instigate and manage a claim on your behalf.
Illustrated examples of claims
Claim 1:
| Property Address: |
Castlefield M15 |
| Purchase Date: |
January 2004 |
| Purchase Price: |
£176,000 (after discount, including parking) |
| Valuation: |
£187,000, rental £900 PCM |
| Maximum Rent Achieved: |
£700 PCM |
| Retrospective Valuation: |
£140,000 (May 2009) |
| Capital Loss: |
£36,000 |
| Rental Loss: |
£12,000 (over 5 years) |
| Total Loss: |
£48,000 |
Claim 2:
| Property Address: |
Castlefield M15 |
| Purchase Date: |
January 2004 |
| Purchase Price: |
£179,000 (after discount, including parking) |
| Valuation: |
£192,000, rental £900 PCM |
| Maximum Rent Achieved: |
£750 PCM |
| Retrospective Valuation: |
£140,000 (May 2009) |
| Capital Loss: |
£39,000 |
| Rental Loss: |
£19,000 (over 5 years) |
| Total Loss: |
£48,000 |
If you have purchased such a property, please complete the enquiry form below and we will send you a claims information pack and application form.
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