The definition of Market Value from the Royal Institution of Chartered Surveyors (RICS) is: The estimated amount for which an asset or liability should exchange on the Valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had acted knowledgeably, prudently and without compulsion.
How do I arrange a Valuation ?
The surveyor will analyse a number of factors in establishing his Opinion of Value. The basis and purpose of the Valuation will in turn dictate assumptions that the Surveyor will take into account.
It is important to recognise that a Valuation is not a Survey. Although the report may provide a brief summary of the size, condition and location of the property, it will not comment on any defects in detail. It is not a substitute for a Survey.
It is important that insurance Valuations are undertaken regularly to ensure that buildings are neither over nor under insured. Our Valuations use up to date data provided by the Royal Institution of Chartered Surveyors (RICS) Building Cost Information Service.
A reinstatement Valuation assesses the estimate cost of reinstating a building on a particular date following total loss or substantial damage.
A retrospective Valuation may be required typically for Capital Gains Tax, non-domiciled taxation or possibly in negligent/litigation cases. We have expert knowledge in carrying out both current and retrospective Valuations.
Under legislation you may have a right to purchase your property from a Local Authority or Housing Association. We can assist with an accurate Valuation of the property. The Valuation will disregard any improvements that you have made during your occupation.
It is also important that you have a Survey to highlight any defects that may be present within the property. The Valuation for Right to Buy and a private Survey can be combined.
Any gain you make from a property investment is subject to Capital Gains Tax as long as the property is not your only, or principal, residence. Our Valuers are experienced in providing Valuations for this purpose at varying dates to mitigate your Tax position. In addition we can negotiate on your behalf with a District Valuer if necessary.
If the property has already sold it is usually possible to provide a Valuation on a Desktop/Drive-by basis.
If you have bought a home with a loan from the Help to Buy Scheme you may be looking to repay, remortgage or sell your property. In order to do this you will require an independent Help to Buy Valuation. We are very familiar with the requirements of the Homes & Communities Agency with regard to the content of these Valuation Reports.
If you decide to sell your Shared Ownership property, or buy further shares, you will require a Market Valuation. Typically the Housing Association will require a Valuation before the property is put on the market. They have particular requirements as regards the content of the Valuation Report, including the need to provide three comparables, and we are wholly familiar with these requirements.
The Valuation will allow you to make an informed decision with regard to your sale or purchase of additional shares.
A Valuation for Inheritance Tax will be required whether there is a decision amongst a family to retain a property asset or to sell it. It is important that an accurate Valuation is undertaken, not only to assess the Inheritance Tax payable, but to ensure that there is an element of protection with regard to any potential future Capital Gains Taxation.
If you are living abroad you may need your property valuing and rental income assessed. We can liaise directly with letting agents or tenants for access to provide these Valuations.
All our Valuers are RICS (Royal Institution of Chartered Surveyors) registered ensuring that your report is suitable for your Tax advisors.
We have been providing Secured Lending Valuations for Banks and Building Societies since 1995. All our Valuation Reports are compliant with RICS ‘Red Book Guidance’ and with our client’s individual needs/instructions.
All our Valuation Reports are thoroughly researched and vetted by a Senior Valuer prior to issue. The use of modern technology and comparable data, sourced through websites such as Rightmove Plus, ensure that our reports are timely, accurate and easily understood.
Where there are post-Valuation queries we will deal with 99% of these within twenty four hours of receipt.
3 Priory Court
Tuscam Way
Camberley
Surrey
GU15 3YX
