There are many reasons for needing a valuation – purchase of a property, sale of a property, Help to Buy or for Insurance purposes.
A valuation before sale of a property can be necessary due to death (for probate) or divorce and we often carry out valuations for tax purposes.
For many of us, property represents the biggest investment we will make in our lifetimes. Whatever the property type, a formal property valuation report will help you make an informed decision. A comprehensive report on value can help avoid inappropriate choices, whilst a combined valuation and survey can identify any potential problems or risks with your investment.
Valuation standards and guidance on most aspects of valuation is given in the RICS Valuation Standards – Global and UK, known in the profession as the ‘Red Book’. https://www.rics.org/uk/upholding-professional-standards/sector-standards/valuation/red-book/
Ian Vicary, who will carry out the valuation, is a registered valuer and regulated by RICS and has many years’ experience in residential, commercial and rural property matters in Dorset, East Devon and Somerset.
We can give you help and advice with all aspects of surveying and valuing residential property.
We offer quick, professional and reliable property surveys and valuations for residential customers to suit a range of situations including matrimony, tax, insurance, probate and retrospective valuations. Ian Vicary is a RICS registered valuer.
Our RICS accredited chartered surveyors can provide you with expert advice if you’re dealing with property in the commercial sector.
A lease will include clauses that cover the condition of a property at the beginning and the end of a tenancy.
We can assist you in understanding your responsibilities, negotiate with the landlord and highlight any potential problems or costs before you sign.
We can draw up schedules of condition to ensure both you and your landlord have proof of the property’s condition before you move in.
Should a landlord claim at the end of a tenancy that the property has not been left as it was found, our building surveyors can help to resolve any dispute by assessing any claim for dilapidations.
We provide rural property valuation of farms, estates and equestrian properties.
Our clients include public and private businesses, private individuals and institutions.
A full range of agricultural valuation advice is available, together with land management and estate planning.
Insurance Valuations provide the value of the cost of reinstating a property after damage, most commonly fire, and take into account the cost of demolition, site clearance, architects and other professional fees and re-building the property. This value is different to the Market Value of the property and can be required by your insurance provider, especially in the case of a listed building.
Help to Buy Valuations
We can provide a Help to Buy valuation if you are looking to purchase a greater share in the equity of your home (“staircase” up). If you are thinking of selling your property and have a “Help to Buy” loan that assisted with the deposit then, before you can sell, you will need to provide the administering organisation – probably Target (HCA) – with an accredited RICS Valuation.
Shared Ownership Schemes
A number of Housing Associations offered schemes which enabled the first time buyer to get on the property ladder by part buying and part renting. You may have purchased any percentage of the total value from 40% upwards. These schemes normally allow you to purchase more shares in the property up to 100% as and when your circumstances allow. This process is commonly referred to as “Staircasing”. If the property value has risen sufficiently then a re-mortgage of the property will often be sufficient to allow more shares to be acquired. Before staircasing can take place an accredited RICS Valuation will need to be submitted to the Housing Association and a price agreed with them.
We have already provided many valuations in the approved format to various Housing Associations including:-
These associations require a Valuation Report based on certain assumptions and in a certain format. This must be carried out by a RICS accredited Registered Valuer. Ian Vicary, who will carry out the valuation, is regulated by RICS and has many years’ experience in residential, commercial and rural property matters in Dorset, East Devon and Somerset.