When it comes to moving home, one of the first things people want to know is: how much is my property worth? And it makes perfect sense. After all, when you know how much your property is likely to sell for, it helps work out whether a move is financially viable.
This is where local, reputable estate agents come in handy. If they are experts in your area and type of property, they can create a good estimation on the current market value. They’ll consider the property’s size and location as well as current demand. But, this will only ever be a recommended guide to valuation as only Chartered Surveyors can provide actual property valuations which sets the price.
Estate agents essentially provide appraisals of your home and estimations of what sale price it could achieve, sometimes without even viewing the property itself. To get a true valuation and to be able to sell your home, you must commission a Home Report which is a legal requirement. This is a detailed pack of information about the condition and value of a property which contains the Single Survey, the Energy Report and the Property Questionnaire. It can only be carried out by a Qualified Valuation Chartered Surveyor.
The independent surveyor will physically inspect the property before creating a detailed report on its condition and value. The condition of the property is separated into three sections – Category 1 to Category 3 – so this Single Survey report will hone in on matters such as damaged timbers, roofing issues, structural defects or damp. It will recommend specialist further reports, if required.
Time is also spent researching the area and location, and valuation algorithms are thoroughly analysed to take into consideration size and location as well as the condition and other comparable evidence. It’s a long, lengthy and incredibly detailed process.
You can absolutely use an estate agent recommended guide to valuation to help decide whether you will sell. But, you shouldn’t base your move purely on a recommended guide price – you should always have an independent professional do a valuation and, in Scotland, this is a Chartered Surveyor. This valuation forms part of the Home Report, or you can opt to have a Private Valuation.
A Private Valuation Report is a specialist report that offers a legal and professional assessment of the price of a property. This type of report solely focuses on a property’s market condition and value. It’s very beneficial when it comes to tax planning, inheritance planning, shared equity and resolving financial issues surrounding separations or divorces.
Whatever your reason for wanting a valuation, if you need it to be legal or accurate then you need a highly experienced Chartered Surveyor, estate agents are only able to give an estimate it is the Chartered Surveyors who value properties.
At the Home Report Company, our team of highly experienced Chartered Surveyors, all regulated by the RICS, offer Home Reports, Private Valuation Reports right across Scotland. The team are available 7 days a week, at times that suit you.
Get in touch today to arrange a time to suit you. We offer early morning or evening and weekend appointments. Call us on 0131 608 0175 or email us at email@example.com