What is a Private Valuation?
A Private Valuation is a report that provides you with the current Market Value of a residential property in line with RICS Red Book requirements. The Valuation will also give you a general overview of the property.
When is a Private Valuation required?
We provide valuations to clients for many reasons including:
- A valuation is required to confirm that an agreed Purchase Price is accurate
- A valuation is required for Probate purposes
- A valuation is required for Matrimonial proceedings
- A valuation is required by a Housing Association due to selling a shared ownership property or purchasing further shares in the property (also known as staircasing)
If you have any other reason for requiring a valuation, please contact us to discuss whether we could help.
What is included within a Private Valuation?
The most important aspect of the Valuation is the current Market Value of the property. This is based on the definition of Market Value within the RICS Valuation – Professional Standards (more commonly known as the Red Book). The report will also state the comparable property sales that have been used in order to assess Market Value. Other things that may be included in the valuation report are a brief description of the property, a list of the accommodation, the Gross External Area of the property, and a rebuild cost for the property. We can also provide a Market Rental Value of the property at an additional cost.
The property will need to be internally inspected before a report can be produced.
Does the inspection look for any defects?
When we inspect the property, we will look for any defects that have a detrimental effect on the Market Value of the property, and such defects will be reflected in the Market Value that we provide within our Valuation Report. Our Valuation Report will not provide any specific information or advice on any defects found, as this is outside the scope of the service.
What is the fee for a Private Valuation?
All our fees are based on either the agreed Purchase Price or an Estimated Value of the property.
Why choose Pinnacle Surveyors?
Valuers at Pinnacle Surveyors have extensive experience of carrying out Private Valuations in line with RICS Red Book requirements. Our nationwide coverage ensures that the Valuation Report will be carried out by a local Valuer who has a detailed knowledge of the local property market. Our admin team will be in touch with you through every stage of the process, from initial contact through to sending out the report.
Where can I get more information?
To discuss using Pinnacle Surveyors to provide your Private Valuation, please contact our admin team on 01332 830202 (Option 2) who will be happy to help and provide further information. Alternatively, fill out the Contact Us form and we will be in touch in due course.