All your frequently asked questions about moving house and renting out a property answered
Find out more about the different types of surveys and private valuations you can have carried out.
The vast majority of valuations, either instructed by a private individual or mortgage lender do not require the valuer to undertake a survey of the property. They will, of course, comment on obvious defects that impact the value but this should not be confused with an inspection for survey purposes, where the surveyor will spend the time necessary to identify any faults present. This is why Which? Recommend that anyone buying a property pays for an additional survey to ensure that they are making their decision to buy in full knowledge of the issues ahead of them.
Yes, the Royal Institution of Chartered Surveyors (RICS) offers three levels of inspection within their Home Surveys package.
Please contact your local branch who can put you in touch with a recommended local surveyor who can advise which type of survey is most suitable.
The majority of valuations are similar, it is the purpose of the valuation that differs and is critical to how the valuer approaches the valuation. Valuations are needed for matrimonial proceedings, for determining the amount of Inheritance Tax due in order to obtain a grant of Probate, for Housing Association tenants seeking to buy additional equity, for those seeking to either sell their property bought through the government’s Help to Buy scheme or those wishing to buy the scheme providers out.
No, a formal valuation is not always required for probate purposes, however, you must take advice from your solicitor and understand the estate’s liability for inheritance tax. If there is a liability you will need a formal probate valuation which is usually charged for.
If you need a valuation for any of the purposes above you will need an RICS Registered Valuer. These values are monitored by the Royal Institution of Chartered Surveyors (RICS) and are subject to the rules and regulation needed to ensure the highest of standards.
To book a private valuation CLICK HERE.
We are often asked to undertake a “Red Book” valuation. The term “Red Book” comes from the colour of the cover of the document: RICS Valuation – Global Standards 2017. This is the standard to which our valuations are undertaken.
The insurance reinstatement cost of a property should not be confused with its value. As the name suggests, it is the amount it would cost to demolish the damaged building, clear the site and rebuild a replacement plus the cost of all fees etc. This can and, often is very different from the market value of a property. It is often more expensive. Where this is the case it is important to ensure that your reinstatement cost is up to date, otherwise, you may be at risk of underinsuring your home and in the event of a disaster being unable to claim the full cost of rebuilding.
Valuation of property is not an exact science. A formal valuation is an evidence-based opinion formed by comparing relevant market data, often in the form of recent property sales, with the property being valued. The valuer will need to take a detailed look at the property to be able to do this and will then apply his or her local knowledge and experience to arrive at the valuation. This will, of course, be a subjective opinion but you can expect valuation figures from multiple professionals to fall within close range of each other because these are all governed by the same strict rules and procedures.
Simply enter your callback request below and a member of the John German team will be in touch shortly to help.
Once you’ve subscribed, the guide will be emailed straight over to you!
Once you’ve subscribed, the guide will be emailed straight over to you!
To receive the latest advice on moving, selling or letting.
You can unsubscribe at any time at the foot of every email.
Simply enter your details below and a member of the John German team will be in touch to arrange your virtual valuation.
Please enter your details below and attach your CV along with a covering letter for our future reference. If a job role becomes available that we think would be great for you, we’ll be in touch.
Simply enter your details below and a member of our team will be in touch shortly to help.
Simply enter your details below and a member of our team will be in touch shortly to arrange this with you.
Please select the type of private valuation you would like and enter your details below. A member of our team will be in touch shortly to help.
Simply enter your details below and a member of our team will be in touch shortly to arrange this with you.
Please fill out some personal details and choose a service to enquire about and we will get back to you with an appropriate response.
Simply enter your details below and a member of the John German team will be in touch shortly to arrange this with you.
Simply enter your details below and a member of our team will be in touch shortly to arrange this with you.
Simply enter your details below and we will start the ball rolling by putting you in touch with Apr Money Limited. A member of our team will be in touch shortly to arrange this with you.
Use our yield calculator to estimate the gross annual rental return on a property.
Use our Stamp Duty Tax calculator to see how much you will have to pay on the purchase of your property.
Our easy-to-use mortgage calculator will give an estimated monthly mortgage cost for your borrowing range.
Simply enter your viewing request below and a member of the John German team will be in touch shortly to help.
Please select the type of survey you would like and enter your details below. A member of our team will be in touch shortly to help.
Choose an enquiry type and fill out some personal details and we will get back to you with an appropriate response.
Please enter your details below and attach your CV along with a covering letter. A member of the team will be in touch shortly.
Simply enter your details below and a member of the John German team will be in touch to arrange your free valuation.
Simply enter your details below. A member of our team will be in touch shortly to find out more about your property search.
Reviews