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Property Valuation

What is a Property Valuation?

A Property Valuation Report is a simple report that provides basic information about a property with a Market Value.

A Property Valuation is not a survey and only contains comments on major works that might affect the value of a property. If more detailed information is required on the physical condition of a property then a survey is needed.

While having a survey performed may seem costly, it provides invaluable information about a property and helps prevent unexpected expenses and stress after purchasing.

There are 3 standard surveys carried out on residential properties;

When would you only want a Property Valuation?

  • Valuation - If you simply need to know the value of a property even if you are not Buying or Selling.
  • Insurance - If you need to know the Insurance Replacement Cost.
  • Refurbishment - When the value of a property has changed after an extension or refurbishment work.
  • Shared Ownership - When buying or selling a property shared with an organisation such as a housing association.
  • Auction - When considering buying a property at auction and you need a guide price.
  • Probate - When you need to determine the value of a property after a death.
  • HMRC - When HMRC have asked for a valuation of assets. (eg. Capital Gains Tax or Inheritance Tax)
  • Property Charge - When you need to repay a charge on the property. (eg. help to buy schemes)
  • Divorce / Marriage - When ownership of a property will change without a sale.
  • Correct Offer - To check if an offer made to you is correct (eg. council 'right to buy' schemes).
  • Lease Extensions & Enfranchisement - When you wish to extend your lease or purchase the Freehold.

What is included in the Property Valuation Report?

Our Property Valuation reports will include:

  • A summary of the property, including its internal floor space.
  • Comments on general condition (not a survey).
  • A Market valuation.
  • Reinstatement cost for insurance purpose (if required).
  • Valuation comments and conclusion.
  • The conditions of engagement.

Why are there different variations of the Property Valuation Report?

To ensure that we meet all of our client requirements, Property Valuations are tailored to our clients specific requirements.

The main purposes of a Property Valuation Report are:

  • Purchase Valuations - A standardised report that can be adapted to meet a clients requirements.
  • Matrimonial Valuations - Adapted to meet Court Procedural Rules as appropriate.
  • Tax Valuations (HMRC) - If improvements have been made to a property since its was last purchased, multiple valuations may be required to account for historic changes to Property Tax Law.
  • “HELP TO BUY” Valuations - Adapted to meet the requirements of your “help to buy” scheme.
  • Houses in Multiple Occupation (HMO) Valuations - An report that considers use as a HMO in the light of legislation and demand.

Houses in Multiple Occupation (HMO) Valuations

We specialise in valuing residential properties for HMO’s and have commercial property expertise so we are able to provide a range of services.

Some of the additional considerations that are required for a HMO Valuation are:

  • Works required - The amount of work required to convert a building into an HMO can have a fundamental effect on its value as a HMO.
  • Local demand - Insufficient demand can drastically effect a properties value as a HMO.
  • Article 4 Direction - This is used by the local authority to limit the number of HMOs in a certain area. This can affect the viability of a HMO and so its possible value.
  • Planning - Planning consent is required for a HMO for over 6 occupiers and in an Article 4 Area.

Where do Allied Surveyors carry out Property Valuations?

Allied Surveyors carry out Property Valuations nationwide.

Our office specialises in the greater West Midlands area including; Birmingham, Coventry, Staffordshire and Redditch. We also cover Shropshire, Central Wales and the Welsh Border.

How much does a Property Valuation cost?

The cost of a Property Valuation Report varies according to the value of the property.

If you would like to find out how much a Property Valuation Report may cost you, why not get a quote.

Get a Quote