Like the Home Survey Standard Level 3 and Home Survey Standard Level 2, these quotations are completed by a RICS (Royal Institute of Chartered Surveyors) accredited surveyor, who provides the customer with a specialist opinion on the property’s worth. Assisting the buyer to ensure they’re making a confident and informed decision based on the knowledge of a regional expert. In addition to this, our Private Valuations can also afford a prospective homeowner with an increased sense of security, as well as a basis from which to effectively renegotiate the property’s true value with the seller. Helping to guarantee that you are not being misled or overcharged for your new home.
When valuing the property, the surveyor will consider the age, size and condition of your home, as well as several other factors. Following the procurement of these details, they will then use their local knowledge to source 3 comparable properties, that are similar in structure and have been bought or sold in the same area over the past 6 months. Finally, using all the previously mentioned information, the surveyor will then formulate an independent assessment on the market value of your property.
A private valuation or desktop extension should be requested whenever you purchase a residential home and require an independent assessment on the property’s worth. These bespoke reports are suitable for a range of purposes including:
Private Desktop Re-Valuation
Used to prolong the validity of your report for an additional 3-month period. Occasionally, due to unforeseen delays in the exchange process, you may be required to update your valuation to consider recent developments in the property market. In this case, it may be advisable to request a private desktop extension re-valuation to prolong your survey. These are typically conducted well after the inspection has been completed, but before the report reaches its final expiration date. Within these 3-months, a discounted extension can be requested that will prolong the initial appraisal to be valid for a further 3-month period. Provided that the desktop is instructed up to 2 weeks before the report becomes invalid, the surveyor will then use the 3 most up to date and comparable properties to reevaluate the current market value of your home.