What exactly is a Canterbury property valuation report?
A property valuation, also referred to as a market valuation or property appraisal, is an unbiased estimate of a property's market value, or what it could be sold for, at a given time.
The estimate is performed by a qualified and trained appraiser or valuer. Canterbury provides this helpful report to ensure all parties involved in a property transaction have a clear understanding of the property's value.
Reports on market valuation offer insight into a home's overall financial performance based on factors such as:
- the square footage of both the indoor and outdoor spaces
- the year the house was built and how well it's been maintained since then
- the location both in terms of community and amenities
- any defects and what you can access nearby
House valuations differ from building surveys and RICS HomeBuyer Reports as they do not inform the interested party of the condition of the property nor its defects, which can be numerous and significant. While surveyors do carry out inspections and condition reports, the Chartered Surveyors who issue the property-valuation reports do not ordinarily make comments on the condition of the property nor its defects. This is a very important difference and explains why clients often purchase both a building survey and valuation report together.
The Benefits of a Property Valuation Report
When you get a property valuation report from a Chartered Surveyor, you can:
- grasp how accurate your agreed purchase price is
- not have to worry about purchasing an overvalued house
- negotiate the price
- know if the property is right for you and your family
However, a market valuation does not give estimates for repair costs, assessment of defects, or give recommendations for repair.
Bear in mind you are making a long-term financial commitment when you purchase a house in Canterbury, London, Bristol, Birmingham, Manchester and Cardiff. Therefore, it is key that you know the accurate value of the property you want to purchase before you put in an offer. This is exactly where we can assist you. Don’t waste your time with dubious online tools, or comparing your property with similar ones in your street. Instead, let a registered valuer give you an accurate market valuation.