As a leading source of property valuations & a RICS registered property valuer we pride ourselves on our property valuation services.
Nothing is more important in obtaining a professional property valuation than the local knowledge of a RICS registered property valuer.
At 'Your Local Surveyor' we only use local valuation experts with experience of property valuation in your area to value your property.
Property valuations are a common area of dispute amongst parties involved within a property transaction. Every party involved will have their own viewpoint of which few amongst them agree. This is why it is important to have a valuation carried out by a RICS registered valuer that is local to the property.
A property valuation is inevitably a market valuation of a property and is often requested by suppliers of mortgage / finance services to assess a property as a security / asset against any financial risk.
First & foremost you have the assurance that the valuation will be carried out by a person who follows the strict RICS processes & standards applicable to the property valuation process as laid out within the RICS 'red book'.
It is important to remember that the best valuation of your property is NOT the highest valuation. The best valuation will always be a fair & objective valuation. The best property valuation is less likely to be challenged or be a source of conflict.
As a baseline, property valuation comparisons are made of at least three properties of similar type within a two mile radius that have recently been valued or sold within the local market. This comparison will also take into account factors such as the condition & extent of comparable properties against the property undergoing valuation.
We have all heard the phrase 'first impressions'. This factor is very important not just to the person valuing your property, but also to prospective buyers. How a property is presented will have an impact on both the valuer & the valuation. From the state of the general maintenance of the property through to the garden and associated external areas.
When the windows were last replaced, the internal wiring renewed & inspected, the maintenance history of the plumbing & heating systems are all factors that will have an impact on property value.
In today's society local amenities can have a dramatic effect on the value of a property. We have all heard of families in some areas moving home just to get their children into what they perceive to be the best local school. This type of local dynamic can have a huge impact on a property's value. The distance from the property to such as local schools, shops, GP surgeries & local transport can all affect the value of a property.
Whether a property is located adjacent to a busy road, nestled within a quiet cul-de-sac or has open views across park-land can all affect the value of a property. Even the local reputation of an area that the property is located within will have an impact on the value of the property. The location of a property in respect of a local or national transport hub could also be seen as a positive factor if the area is considered as part of the 'commuter belt', but just as relevant to the property value is the amount of local traffic & any congestion or noise associated with such.
Noise pollution is an important consideration when placing a value on a property. Being situated close to a local train station while by some may be considered a value, the activity of trains through the local area & any noise associated with such activity can also lead to a devaluation of a property due to noise pollution.
It is also important the valuer researches any local developments, present & planned as any could affect the status of the property undergoing valuation. As an example take the recently announced HS2 route. This proposed route has had a dramatic effect on value of many homes that are close to this route.
The above is just a sample of some of the factors that our RICS regulated valuers take into consideration when valuing a property. If nothing else, these factors highlight the importance of local knowledge in obtaining the best valuation for your property. This is why every valuation we carry out is done by an expert that is local to your area.
Of late there has been a rise in so called FREE valuation services on-line. In our experience many if not all of these services simply provide you with an 'estimate' based on local property sales data. Even this so called FREE valuation estimate comes at a cost of you handing over both your personal e-mail address, contact number & your agreement to be contacted by members of what in effect is a sales gateway for a raft of property services.
A RICS property valuation can not be carried out by any FREE on-line service.
Even when two RICS regulated property valuers carry out a property valuation on the same property their resulting valuations will probably differ. Although both will be fair & comply to RICS standards in how they were produced there are factors of a property valuation that are interpretive.
Add to that, both valuers will be tasked with doing the best for their client. Where the client is a bank / lender the valuation will tend to be fair but pessimistic as the client needs to secure & safeguard against any risk. Whereas if the client is the property owner then the valuation will also be fair, but optimistic. In both instances the valuations will be within a narrow margin.