What is Property Valuation?
Buying or selling a home can be an exciting but challenging process. Home prices fluctuate, and before closing on a home purchase, it’s crucial for both the buyer and seller to agree a fair price.
Home valuation reports are a vital aspect of home-buying. They enable both sellers and home buyers to understand the true worth of a property, aiding in negotiating a fair deal.
A valuation gives you an impartial assessment and appraisal of a property’s market value, carried out by an independent professional. When you’re ready to buy a property, a valuation is crucial, as it helps streamline the paperwork and ensures the price is right
Key UK Insights
Why Property Valuation Matters?
Property valuation is essential for mortgages, legal issues, and informed decisions, with certified accuracy and standards.
- Banks use valuations to ensure the property’s value aligns with the loan amount.
- Programs like Help to Buy or shared ownership require certified valuations for buying or selling property shares.
- Accurate valuations are essential for inheritance, divorce settlements, or tax calculations.
- Provides buyers and sellers with a realistic market estimate, minimizing financial risks
Valuations for real estate investment entities: A guide for clients and valuers
This guide summarises regulatory requirements and industry recommendations for commissioning and providing the regular valuations of real estate held by investment vehicles such as collective investment schemes, real estate investment trusts (REITs) and pension funds in the UK. This indirectly addresses Valuation Review recommendations 1, 3, 5 and 7.
Valuations for real estate investment entities: A guide for clients and valuers (PDF 6.09MB)
Published date: 17 September 2024
Step-by-Step Guide
Process of Property Valuation
1
Initial Assessment
The surveyor evaluates the property’s construction, size, location, and overall condition.
2
Site Inspection
Observations on property features, structural integrity, and nearby amenities are recorded.
3
Market Comparison
Recent sale prices of similar properties in the area are reviewed to determine a fair value.
4
Valuation Report
A comprehensive report is provided, detailing the methodology and assumptions used to arrive at the value. These valuations are valid for three months but can often be extended upon request
You ask, we answer
Find answers to common property valuation questions, covering validity, accuracy, and the importance of assessments.
No, but it is crucial for transactions requiring mortgage approvals or government schemes.
Our valuations are regulated and evidence-based, while estate agent appraisals may be subjective and inflated to attract sellers.
Key factors include location, size, age, condition, amenities, and market conditions.
Typically valid for three months but can be extended in some cases.
Yes, discuss concerns with your surveyor and request a review if necessary
Get an instant quote
All our Certified surveyors and valuers use the latest technology to provide a quick and efficient service and give you detailed insight about the property in question. If you’re ready to buy or sell, we’ll make the process of as seamless as possible. We have vast knowledge and expertise of the local property market, so you can be sure you’re getting the best advice possible, to help you proceed with confidence.
For anything not listed in the form, please call 07853 854441 for a specialist valuation.
