WHEN IS A VALUATION SURVEY REQUIRED?

Both buyers and sellers can benefit from getting a valuation survey carried out. It can allow sellers to set a realistic price for their home, helping it to sell faster, whilst buyers can learn if what they’re paying for it is accurate. Whether you’re buying or selling a home, understanding a valuation can be an important tool when you’re venturing into the property market.

You may also decide to get a valuation survey carried out if you want to remortgage. Although it’s not usually essential, it can be a good idea if property prices have risen. This is because rising prices tend to mean a better loan-to-value ratio (LTV). Loan to value is a measure used by lenders to determine how much you can borrow and what deals you could be eligible for.

You may also consider getting a valuation survey if you’ve had renovation works carried out on your property, such as converting your loft or adding an extension. If you believe your home’s value has increased since it was last valued, it’s worth getting a professional valuation.

 

WHAT DOES A VALUATION SURVEY INVOLVE?

A valuation survey isn’t as detailed as the other surveys available, particularly a building survey which takes an extremely in-depth look into the condition of a property. When determining the value of your home, the survey will compare prices of similar properties in the local area, as well as carry out other research.

They will note down any obvious damage or defects that will affect the value of the property, highlighting visible issues such as dampness and electrical problems. However, unlike with other types of surveys, you won’t be advised on repair or maintenance work needed.

IS A VALUATION SURVEY THE SAME AS A BUILDING SURVEY?

No, a valuation survey and a building survey are two different things. Since a valuation survey estimates a property’s value to help you determine if the price is fair should you go ahead with the purchase, it only records its worth. It doesn’t assess the property’s overall condition or identify structural problems or faults.

A building survey is an in-depth assessment of a property’s condition, highlighting any existing or potential issues that require addressing. Both valuation surveys and building surveys are carried out by qualified surveyors.

Our Team

200 London Road, Southend-on-Sea, Essex, SS1 1PJ

T 01702 43 22 55

LAURENCE COX

Partner

DAVID BRANDAJS

10 High Street, Wickford, Essex, SS12 9AZ

T 01268 76 46 76

DEREK RONA

ELLEN MORRIS

6 High Street, Rayleigh, Essex, SS6 7EG

T 01702 47 00 55

MELANIE SOUNES

STEVE ANSELL

DAVID PLASKOW

JACKIE SHEAHAN

HELEN COSFORD

"We are grateful to Mr David Plaskow of Hair & Son, who negotiated the premium for our leasehold extension down to about half the original offer. We are very happy with the highly professional valuation and leasehold negotiation service we received from Hair & Son, and recommend them to anyone in a similar situation"

- Simon Mayers and Fiona Hayes

WHY CHOOSE HAIR & SON FOR A HOUSE VALUATION SURVEY?

At Hair & Son, we’ve been providing valuation surveys in Essex for many years, helping our clients to determine the market values of all sorts of homes. Our surveyors are highly experienced and know what to look for and what factors to consider when valuing properties.

We have built up a fantastic reputation throughout the region, becoming renowned for our professionalism and affordable prices. Get in touch with the Hair and Son team today – we look forward to hearing from you.