Property Valuations

Residential Valuations, Help to Buy, Property Valuations
Residential Valuations

A valuation of a residential house or flat typically involves a short visit to the property, along with considerable desk research. Evidence from both the visit and the research are combined to determine the market value of the home. Our surveyor will make a visual inspection of many aspects of the property when making a residential valuation.

 

It is important to remember that valuations are not building surveys. Properties can have many defects, both major and minor, that do not affect market value but that do require costly repairs and maintenance. For this reason, if you are purchasing a property it is a good idea to have a building survey done by an RICS surveyor. That way, you know exactly what you are buying.

 

Help to Buy

If you have used the Help To Buy scheme and are now in a position to sell your home, remortgage, or start repaying your loan, then you will need to get an RICS regulated valuation.

An RICS valuation is required in order to work out the amount of deposit which should be repaid.

Help to Buy
Probate Valuations

When a property is above the inheritance tax threshold* then an RICS Probate Valuation may be required. RICS surveyors have a royal charter and the probate valuation is indemnified by insurance.

*In the 2020/21 tax year, everyone is allowed to leave an estate valued at up to £325,000 plus the new ‘main residence’ band of £175,000 giving a total allowance of £500,000 per person. For estates worth less than this, beneficiaries won’t pay inheritance tax.’

Property Valuations