My LA has accepted the need for a CRAG valuation for my mother in law's beneficial share of the family home - needed to determine her 'notional 'capital in respect to her financial assessment for care home fees [ after discussions as to what was actual or notional capital]. She has been in a home since November 2012 and was previously fully funded. Her husband continued to live at their house which was held as tenants in common. After his death, the LA assumed her 50% was 50% of the deemed marketable value. This is not the correct position to take as her husband's share was left to his three sons. Without a 'willing buyer', her beneficial share could be deemed to be nil. Neither the LA or I know who to approach with regard to finding a surveyor suitably experienced and knowledgeable with regard to 'CRAG' valuations. We live in the South West.
In the same vein and as a warning to others, the LA initially sent forms to complete in case there was insufficient liquid funds to pay for her fees. I may be wrong, but it would seem, the LA would then charge 8% for this deferred payment agreement or they could put a charge on the property if we failed to sign. I understand that a charge cannot be put on a property held as tenants in common or where, as in this case, there are several owners [holding part of the property in trust until it was sold.) Neither would any interest be able to be accrued on any charge that was able to be put on a joint tenancy or singly owned property.
Any advice on the subject of CRAG valuations would be more than welcome.
In the same vein and as a warning to others, the LA initially sent forms to complete in case there was insufficient liquid funds to pay for her fees. I may be wrong, but it would seem, the LA would then charge 8% for this deferred payment agreement or they could put a charge on the property if we failed to sign. I understand that a charge cannot be put on a property held as tenants in common or where, as in this case, there are several owners [holding part of the property in trust until it was sold.) Neither would any interest be able to be accrued on any charge that was able to be put on a joint tenancy or singly owned property.
Any advice on the subject of CRAG valuations would be more than welcome.
