A red book valuation is the name that is given to a valuation report that is in line with RICS valuation professional standards. The ‘red book’ or professional standards for RICS contains best-practice guidelines, mandatory rules, and other advice for all RICS-registered surveyors and valuers carrying out property valuations. While it does not tell the surveyor how to value a property, it does outline the standards that should be followed Read More…
A property valuation is the process of estimating the current market value of a property based on how much it would normally set for. A property valuation is carried out by a professional estate agent or surveyor who is a neutral third-party with no stake in the property whatsoever. In general, the report that is generated from a property valuation survey will last for up to three months before they Read More…
If you’re selling, buying, or remortgaging a property, getting an accurate valuation of the property is important to ensure that you’re either pricing it correctly or applying for the right mortgage amount. Valuations are usually provided for free by an estate agent since they know that it’s a great way to view the property and pitch their services to the home owner. However, there are a few times where it Read More…
A property valuation survey is typically required when you are selling, buying, or remortgaging a property. Property valuation surveys are often carried out by mortgage lenders to ensure that a property is worth the asking price and to keep their level of risk low when it comes to the amount that they are willing to lend to the buyer to purchase the property. If you’re remortgaging your property, the lender Read More…
If you’re planning on purchasing a new property with a mortgage, your mortgage lender will usually request that a valuation survey is carried out on the property to make sure that it is actually worth the amount that you’re asking to borrow to pay for it. A mortgage lender may also require that a valuation survey is carried out in other circumstances, such as if you’re planning to remortgage your Read More…
When you’re planning to purchase a new property, it’s important to ensure that you have all the information that you need regarding the condition of the property before you complete the sale. While it may not be as pertinent when the property is fairly new and in good condition, it’s still worth having a survey carried out to confirm that the property does not have any major defects, faults or Read More…
Buying a property is a massive investment, so it’s always worth making sure that the property you are planning to buy is in good condition. Even if you are planning to purchase a house that is fairly new and does not appear to have any obvious problems or defects, it’s worth having a building survey carried out to confirm this and make sure that you don’t complete the sale unaware of Read More…
No matter the value, size, condition or type of property that you are considering buying either as an investment or for your next home, experts recommend always having a survey conducted on the property by a chartered RICS surveyor. While it’s not legally required that buyers have a survey conducted on their property, it’s always worth investing in since the results of the survey may be able to tell you Read More…
When buying a new property, it’s always a wise idea to have confirmation that the property is in good condition and that there are no serious issues before the completion date. But properties can be deceiving, and when you’re viewing a potential new home, you might not even notice some serious problems that could end up being seriously expensive for you to repair further down the line once the home Read More…
You have found your dream property, and made an offer that has been accepted by the seller. But before you start the process of buying the property, it’s important to make sure that you have as much information as possible about it, especially when it comes to any defects or anything that could potentially go wrong for you in the future. For most buyers, the best way to do this Read More…