Surveys & Valuations
Make sure the home you choose isn’t hiding any nasty surprises.
Getting a survey from an Indemove surveying partner will highlight any problems that could lead to expensive surprises later. It’s important to note the valuation your mortgage provider carries out is not a survey
A survey should not be confused with a mortgage valuation report. The mortgage valuation will give your mortgage lender assurance for its loan. It will not give you an assessment of the condition of the property, or advice about repairs and maintenance. You need to carry out your own property survey. It makes good financial sense to know what you’re buying and what it’s likely to cost should there be any concerns regarding the condition of your new purchase.
There are different types of surveys
|RICS Condition Report||RICS Homebuyer Report||RICS Building Survey|
|Completed by a qualified Chartered Surveyor|
|Suitable for your lender? i.e. tells them whether the property is a suitable security for your mortgage|
|Suitable for Indemove buyers|
|Tells you the condition rating of the property|
|Helps you identify possible problems that could help with price negotiations|
|Will help you avoid expensive repairs after completion|
|Suitable for any property|
|Suitable for properties 1850 - to date and standard construction|
How to value a property
Take care when considering what the right value for your property is
It’s important to remember that valuing a property is not an exact science so our guidance notes are designed to show you how to value a property to a reasonable degree of accuracy. It can be used to value your own property but if you’re not confident in your valuations, Indemove can help you.
When you complete your seller’s profile, highlight the ‘Value my Property’ button and we’ll be in touch. There are a few ways to value a property but in our opinion, the best way to value residential property is to look at data from valuation experts, the selling prices of other properties and what surveyors call ‘comparables' (in other words: similar properties that have recently sold).
Understanding property valuations
Guidance notes The following notes will help sellers value their own property and to help buyers decide whether the asking price represents good value.
For all sorts of reasons, valuing a property is the Achilles heel for most online property portals.
Some estate agents are known to value property based on opinion and what other similar properties have sold in that particular area. They may use data from just one or two sources, which isn’t enough to generate a realistic valuation.
So, done in the wrong way, this approach to valuations will inevitably attract sellers when they are misguided by high, unrealistic valuations – after all, who’d say no to exceeding one’s expectations on a sale of a house?
Many properties don’t sell owing to unrealistic valuations. Indemove considers data from numerous data points including marketing leading indices and experts and provides a range of selling prices which can be referenced by Indemove sellers to set the right price for the market.
The price will include a price for fair, good and excellent condition and acknowledge variations in local markets.
The price will be determined by market information, analysis provided by leading providers and an independent report.
For an Indemove valuation press the ‘Value my property’ button in your profile.