Your property valuation is an opportunity to learn the true value of the property you’re selling or to find out if you’re getting a fair price for the property you’re buying.
If you’ve never had a property valuation before, it’s difficult to know what to expect from your appointment. A professional property valuer analysing your property may seem daunting, but with the right information, you can get the most out of your valuation process.
It’s wise to work with an independent property valuer who is separate from your estate agent and is RICS accredited. An independent RICS surveyor will use industry best practice valuation techniques to provide you with a detailed, accurate and unbiased valuation report. Professional property valuers will give you the right valuation based on market evidence, helping you make a well-informed decision.
Here are 5 things to expect from your property valuation appointment:
1. Your property valuer may take photographs
Most property valuers will take photos of the inside and outside of your property during the valuation process. These photos will go in your valuation report to support the findings and explanations that your surveyor will provide. Unlike when a prospective buyer views a home, your surveyor is taking photos purely to support their findings, rather than for appearance purposes or to attract a buyer. This means you don’t have to worry about making your property picture perfect.
2. The exterior of your property is just as important as the interior
Your property valuer will assess the outside of your property just as they would the inside of your property. Inside, they will measure walls, and make note of any fixtures and fittings that may affect the value. Outside, they will take note of the quality of access, parking, location, and size of the plot. They will also look at characteristics of the exterior such as the patio, terrace, balcony, garden, garage, brickwork and roof.
3. Ask your valuer as many questions as you want
During the valuation, feel free to ask your surveyor any questions you might have. You might want to know how you can increase the value of the property, or what fixes need to be made to the property. A valuation differs from a property survey, which goes into much more detail about the structural condition of the building. If you want to get this information too, you’ll need to arrange a separate survey such as a homebuyer report or building survey.
4. The length of your valuation appointment can differ
A typical property valuation can take upwards of an hour, to complete a thorough assessment of the interior and exterior of the property. This naturally depends on the size of the property, the plot, and any outbuildings included in the valuation. If you have a lot of questions, this can draw out the length of the valuation appointment. If you’re short on time, you could draft a list of questions and send them to your property valuer before or after the valuation appointment to speed up the process.
5. Your property valuer will advise on the local property market
The value of properties can fluctuate due to many factors like their condition, renovations or extensions. Because of this, your property valuer will also look at the local property market and the sales of similar properties in your area. This will give you a strong guide towards what your property will be valued at.
At London’s Surveyors and Valuers, we have a team of 12 RICS accredited property surveyors and valuers with over 200 years of combined experience.
We deliver bespoke property valuations that give you the knowledge and information you need to make informed decisions about your property.
If you require a property valuation, please complete our contact form and we’ll get back to you to discuss your requirements.