Buying XP out of house - question about property value

[ILoveMySeedlings]

I would like to buy XP out of our house, and so need to get the house valued. Properties aren't shifting very fast at all at the moment, and I am concerned that any value an estate agent gives for the house is simply not going to be what a buyer (other than me) would realistically pay for the place at the current time. Properties are regularly selling for tens of thousands lower than the asking price, if they're selling at all.

So how does this work? Do I have no option other than to buy XP out on the basis of what the house is considered to be worth by an estate agent? Or can I ask estate agents to tell me what they think the house might realistically sell for, and offer to pay XP half of that figure (rather than half of an optimistic asking price)? I am the buyer, after all.

Grateful for any advice on this. Thanks.

Bump ...

How about ask the estate agent what he would advise as an asking price if you needed to sell within 4 weeks?

Good plan, titchy. Should encourage a more realistic figure. Thanks.

If you can't agree,might be worth getting an independant opinion from a surveyor? Did this when buying my mum's house off of her just to be sure that we had agreed on a fair price ( and to stop any issues from siblings!)

I would agree you need a independent value, get at least 3 estate agents values, then speak to him realistically about value, I am guessing it is up to you to make a offer, just like any buyer would, just be prepared to walk away, if he thinks you are desperate to keep house he wont budge, remember if you walk out as well, he will be liable for all ongoing costs.

that is your power

If you can afford to pay £250 then get a report from the valuation office - I'm currently divorcing XH and my soliciotr said they are so scared of getting it wrong that they are undervaluing all properties! There can be ahuge gap between a property valuation and a court date so he said they do tend to err on the side of caution.

Or ask etate agents to point out the asking price and the price they expect to achieve.