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  • Andrew MacKenzie
  • March 07, 2018 01:34:23 PM
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A Little About Us

A blog which provides hints and tips and valuable resources about home reports in Scotland. Home reports are mandatory in Scotland when selling your property. The blog discusses all aspects of selling your home and is a valuable resource.

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    Scottish Home Report FAQ’s Part 2

    Last week we compiled a list of answers for some of the most frequently asked questions to do with the Scottish Home Report. Here’s part 2. How much does it cost for a home report? There is no set-in-stone answer to this question and it... The post Scottish Home Report FAQ’s Part 2 appeared first on Home Report...

    Last week we compiled a list of answers for some of the most frequently asked questions to do with the Scottish Home Report. Here’s part 2.

    How much does it cost for a home report?

    There is no set-in-stone answer to this question and it very much depends on a number of contributing factors, including value and location of the property for sale.

    When checking out quotes for a home report, it is important to consider the following:

    · Ensure the firm or individual surveyor is regulated by RICS (Royal Institution of Chartered Surveyors)

    · Ensure the surveyor carrying out the Home Report has a good knowledge of the local area

    If you can answer yes to the above criteria, then you have certainly chosen a surveyor who has the appropriate experience and knowledge to carry out your home report.

    The cost for a Home Report can vary so much as it will for most products and services. It will also vary depending on the location of the property as the surveyor will usually quote based on a number of factors such as the time taken to travel to the property, the time taken to inspect the property, the value of the property and the time taken to create and prepare the Home Report Document. Generally speaking, the cost of the Home Report will be higher if the property is in an extremely remote area, large, old, and of high value. The cost of a Home Report on a fairly close by, small, new, lower value property will be significantly less.

    For a more accurate quote, complete the following form and we’ll get back to you asap with a personalised quote https://www.homereportcompany.co.uk/costs/ or call us on 0131 608 0175.

    How long does a home report last?

    The documents within the Home Report must not be any older than 12 weeks old at the time that your property goes on the market.

    There is no official ‘expiry date’ of the Home Report in Scotland once the property is on the market. However, if the property is for sale for a long period of time, many sellers opt to have a ‘refresh’ of the Home Report carried out. It is important to potential buyers that the information in all 3 of the documents within the Home Report are up to date, accurate and reflect true likeness of what is on offer.

    If a property has been on the market for a longer than average period, often a potential buyer will request that the survey is refreshed. In this instance, it is up to the buyer and seller to agree on who pays for the refresh survey to be carried out. The cost of the refresh is normally not the full amount of a Home Report, the charge for a refresh can be determined by the surveyor or Home Report company carried out the service.

    It is also possible that the property for sale can be taken off the market for up to 4 weeks, then put back on the market without having to have a new Home Report carried out.

    What is a property questionnaire?

    The property questionnaire is the third document within the home report. It is usually completed by the person that is selling the property as the information provided is often only known by them.

    The purpose of the property questionnaire is to provide the new owner or potential buyers with helpful information that they’ll need to know about the property should they be the new owners.

    The property questionnaire was designed to be straightforward enough for the seller to complete themselves, though it is nine pages long, so it is important it is filled in with thought and accuracy for the new owner. There are some questions within the report that the seller may find difficult to answer, such as information on any alterations or extension work that has been carried out on the property. In these instances, the seller should speak to the conveyancing solicitor or the Home Report company for help with completing these sections.

    The main topics covered within the property questionnaire are information on council tax bands, parking arrangements, information on alterations to the property, information on the central heating system in the property (if there is one), information on services provided to the property such as gas/electric/telephone/TV/broadband or satellite and water mains providers.

    There is also information on responsibilities of shared or common areas at the property such as contributions for shared costs – gardening/cleaning of stairwells/repairs or upkeep of communal areas. There is also information on access rights for instances where you may have to walk through a neighbour’s property to put your bins out or vice versa where a neighbour has to enter your property to access bins/driveway etc. Any details of a similar nature will be documented within the property questionnaire.

    The seller will also provide any information on guarantees on work carried out at the property, for example there may be a 5yr guarantee on electrical work that has been carried out, or a 10-year guarantee on damp course treatments.

    An example of the property questionnaire can be found here https://www.homereportcompany.co.uk/wp-content/uploads/2014/08/property_questionnaire_example.pdf

    What is a Home Report in Scotland?

    The Home Report was introduced in Scotland in December 2008. The purpose of the Home Report is to provide potential buyers with upfront information about the condition of the property which will enable them to make informed decisions prior to either viewing or putting an offer on for the property.

    The Home Report consists of 3 elements;

    • Property Questionnaire,
    • Survey
    • Energy Performance Certificate (commonly known as an EPC).

    The Property questionnaire is complemented by the person selling the property and is contains the majority of information that is useful to potential buyers. It typical includes information about:

    • The properties Council Tax Band
    • Details of any alterations that have been made to the property
    • Any parking arrangements
    • Any additional charges that the buyer may incur such as upkeep of communal areas

    The Survey is carried out by a Chartered Surveyor who is RICS regulated (Royal Institute of Chartered Surveyors). The survey will help potential buyers find out about the condition of the building and, if there are problems, give them powerful ammunition for negotiating the buying price down or asking the seller to rectify the problems.

    The Energy Performance Certificate (EPC) can be complied by anyone who is licensed to produce EPC’s. An Energy Performance Certificate is required for properties when constructed, sold or let and provides details on the energy performance of the property and advice on what can be done to improve it.

    There are a few exceptions to the duties to provide the Home Report. These include new housing, mixed sales and houses that have been converted. More about exceptions can be found on the government website here: http://www.gov.scot/Topics/Built-Environment/Housing/BuyingSelling/Home-Report/sellers/advice

    The majority of larger firms of Chartered Surveyors including ourselves, produce Home Reports. They’ll provide both Survey and EPC elements of the Home Report while the property seller inputs the relevant information for the Property Questionnaire.

    Once the individual documents are complete, the surveyors then produce one document that contains all elements of the Home Report. Some non-RICS registered companies will produce Home Reports but they have to obtain the three required elements from different parties before packaging them together into an all-in-one report.

    The post Scottish Home Report FAQ’s Part 2 appeared first on Home Report Company.


    Scottish Home Report FAQ’s Part 1

    We have compiled a list of answers for some of the most commonly asked questions about Scottish Home Reports. Check back next week for part 2. How long is the home report valid for? There is no official expiry date on Home Report providing that... The post Scottish Home Report FAQ’s Part 1 appeared first on Home Report...

    We have compiled a list of answers for some of the most commonly asked questions about Scottish Home Reports. Check back next week for part 2.

    How long is the home report valid for?

    There is no official expiry date on Home Report providing that the home report is no older than 12 weeks old when the property goes on the market.

    If the property has been for sale for a long time, the seller may consider having a refresh done, alternatively, buyers are entitled to ask the seller to provide a refreshed Home Report if the property has been on the market for a very long time.

    Home report refresh what is this?

    The documents included in the Home Report must be no older than 12 weeks old at the time the property is put on the market. Once the property is on the market, there is no official expiry date, however buyers may ask for the Home Report to be refreshed if the house has been for sale for a very long time.

    It is up to the potential buyer and seller to agree on who pays for this, but in most instances, it will be the seller. The charge for the refreshed report (if any) can be discussed with your surveyor or Home Report provider.

    How will I pay for my home report?

    This will depend on the surveyor or firm that is providing your Home Report. Most surveyors will ask you to pay on completion of the Home Report Document and you’ll be sent the report either in the post of electronically on the same day, a copy is usually sent to the firm selling/marketing the property too. The conveyancing solicitor will also obtain a copy of the Home Report when the sale proceeds to that point.

    It is best to source a number of providers of Home Reports and compare quotes. Remember to ensure they are RICS (Royal Institution of Chartered Surveyors) regulated and have a good local knowledge of the area where the property for sale is located. Once you are happy with a quote, discuss with them how and when they wish to receive payment. Some providers will also let the payment be deferred until the property has been sold, but usually

    Who pays for the home report?

    Anyone selling a property in Scotland has to provide a Home Report for the property for sale. It has to be carried out by a surveyor who is RICS regulated and should be no older than 12 weeks at the time the property goes onto the market for sale.

    The seller is always responsible for the cost of providing the Home Report. According to the Scottish Government, there is no legislation saying that the buyer should reimburse the seller for the cost of the Home Report, however, it may be that in some instances the buyer and seller will agree on meeting the cost of the Home Report half way should the sale go through to completion.

    What documents are included in a home report in Scotland

    The Home Report is designed to provide potential buyers with more information about a property they are thinking of buying prior to them submitting an offer. You are required to have a copy of the properties Home Report before the property goes on the market for sale and a copy has to be available to potential buyers.

    The Home Report includes three separate documents; The Single Survey, Energy Performance Certificate (EPC) and the Property Questionnaire.

    The Single Survey

    The single survey document is a real detail survey carried out by a qualified surveyor; one is a regulated by RICS (Royal Institution of Chartered Surveyors). The survey documents the condition of each aspect of your property within the report, broken down into 3 categories.

    Category 1 = no immediate report is required

    Category 2 = repair or replacement requiring future attention, but estimates are still advised

    Category 3 = Urgent repairs or replacement are required now. Failure to deal with the issues may cause further problems to other parts of the property or cause a safety hazard. Estimates for repair or replacements are required now.

    A copy of the Single Survey report can be found here: https://www.homereportcompany.co.uk/wp-content/uploads/2014/08/single_survey_example.pdf

    The Energy Performance Certificate (EPC)

    The EPC or Energy Performance Certificate provides the buyer with information on how efficient your home, much in the same way that most new electrical appliances display an energy rating. The energy performance certificate is also carried out by the surveyor and additional information on how you or the buyer can improve the energy efficiency of the property will be provided.

    The Property Questionnaire

    The Property Questionnaire is the third and final document that forms part of the Home Report. The property questionnaire is usually complete by the selling, as it contains information that only they are likely to know.

    It contains information for the buyer on information such as council tax band, parking, alterations that have been carried out in the property, access right i.e. do your neighbours have the right to cross your property to put their bins out, along with other things such as additional costs that may be incurred while living at the property such as shared costs for cleaning the stairwells/windows etc.

    The property questionnaire is designed to be straightforward so that the seller can complete it, but in some cases where there may have been alterations carried out, the seller should consult the surveyor or conveyancing solicitor to avoid any concerns at the conveyancing stage.

     

    The post Scottish Home Report FAQ’s Part 1 appeared first on Home Report Company.


    Home Buying Process for First Time Buyers

    Buying a new home can see a bit daunting, but it doesn’t have to be. Have a read of our guide below to get an understanding of the buying process and hopefully make your experience an enjoyable one. These are the steps to becoming a... The post Home Buying Process for First Time Buyers appeared first on Home Report...

    Buying a new home can see a bit daunting, but it doesn’t have to be. Have a read of our guide below to get an understanding of the buying process and hopefully make your experience an enjoyable one.

    These are the steps to becoming a home owner in Scotland

    Carry Out Your Homework

    The majority of people don’t have enough in savings to purchase a house, so generally have to apply for a mortgage. The term ‘mortgage’ is a loan for buying a house.

    The mortgage is secured against the property which means if at any stage, you can’t keep up with the repayments, the lender will repossess the property and sell it to get their money back.

    It’s important to think about more than just whether you can afford the monthly repayments, before you even consider approaching mortgage lenders. You will have to factor in all of your other monthly outgoings to be sure that you could still meet your payments if interest rates were to rise unexpectedly or if your circumstances were to change.

    Get a Mortgage ‘In Principle’

    When it comes to finding a mortgage you have several options including mortgage brokers, banks or searching online. Again, it’s important to research all of them properly and check out which will give you the best deal.

    Once you have found the best mortgage deal for your circumstances, the lender will give you what is called an ‘agreement in principle’. This is also known as a ‘Decision in Principle’ (DIP), ‘Mortgage Promise’ or an ‘Agreement in Principle’ (AIP). A mortgage in principle is a certificate or statement from a lender to say that ‘in principle’ they would lend a certain amount to a particular prospective borrower or borrowers based on some basic information.

    Find a Solicitor

    You’ll need to hire a solicitor or a conveyancer to take care of all the legal aspects of the sale. They will also carry out checks for any planning or local issues that may affect the property’s value.

    Home Report and Survey

    Before marketing the property for sale, sellers have to arrange a Home Report to show to buyers interested in their property.

    This has to include:

    • Single Survey – an assessment carried out by a qualified surveyor from the Royal Institution of Chartered Surveyors (RICS) pointing out the condition of the property, where repairs are needed and a valuation of the property. A mortgage valuation may also be included.
    • Energy Performance Certificate (EPC) – An EPC is a Certificate which states the energy efficiency of a building based on the standardised way in which a building is used. CO2 ratings are shown in bands from A-G. A being very efficient, G being very inefficient. The performance of the measured building is benchmarked against current Building Standards and recommended cost effective improvements.
    • Property Questionnaire – This is completed by the seller or their agent asking about their ownership of the property and can be done online or offline.  It provides a range of useful information, for example the council tax band, length of ownership, existing service providers, parking facilities and alteration commentary.

    When you receive the Home Report for the property you want to buy, make sure to read it carefully. It will give you a good idea of the running costs of your new home. You can also use it to ask the seller about utility bills.

    Making an Offer

    Once you have found the property of your dreams, you’ll have to make an offer for it. This is done through the estate agent or solicitor acting on your behalf.

    You can make an offer on a property without already having an agreement in principle in place, but having one means the offer is more likely to be accepted and everything going according to plan. If the seller agrees to the offer, then the buying process can begin.

    However, it’s worth noting that you won’t be obliged to go through with the deal if there’s a problem with the survey or contract. You are not legally bound at this stage.

    Agreeing the Contract

    Once all the contract details have been agreed, the two solicitors exchange letters. These letters are known as ‘conclusion of missives’. Both parties are now legally committed to the sale.

    Completion and Final Steps

    This is where the property actually becomes yours! You get the keys and the deeds, but there are still some fees to be paid. The seller’s solicitor will ask your lender for the remaining money owed:

    • Usually 90% if you had to pay a holding deposit) in preparation for the date of entry
    • Your solicitor or conveyancer’s fees.
    • LBTT (Land, Buildings and Transactions Tax). The Government have a tax calculator which can be used to calculate the rate of tax the payments will be arranged by your solicitor or conveyancer.

    Congratulations, enjoy your own first home!

    The post Home Buying Process for First Time Buyers appeared first on Home Report Company.


    Scottish Property Market Update

    Scottish property market in summary The average selling price in Edinburgh, the Lothians, Fife and the Borders from May until July 2019 was £256,730. This was a 4.1% increase year on year. Sales volume in these areas over the past three months rose by 8.2%... The post Scottish Property Market Update appeared first on Home Report...

    Scottish property market in summary

    • The average selling price in Edinburgh, the Lothians, Fife and the Borders from May until July 2019 was £256,730. This was a 4.1% increase year on year.
    • Sales volume in these areas over the past three months rose by 8.2% annually.
    • The volume of properties coming onto market decreased by 6.3% in Edinburgh, the Lothians, Fife and the Borders annually.
    • The average percentage of Home Report valuation achieved was 103.2% between May and July 2019, compared to 105.1% last year same period.
    • The average selling time across Edinburgh, the Lothians, Fife and the Borders was 21 days over the past three months, which was 3 days slower than last year.

    Average selling prices in Edinburgh, the Lothians, Fife and the Borders

    The average selling price in Edinburgh, the Lothians, Fife and the Borders was £256,730 over the past three months, making it a 4.1% increase comparing year on year. The average selling price In Edinburgh was £276,582, which was a 4% increase annually.

    Looking specifically at Edinburgh, the biggest increase in average selling price was seen on three-bedroom houses in Blackhall, Davidsons Mains, Silverknowes, Cramond, Barnton and Cammo, rising by 13.1% to £400,605. In Abbeyhill and Meadowbank, one-bedroom flats saw an increase of 9.9% in average selling price, escalating to £170,362.

    In West Lothian, the average selling price fell by 21.2%, dropping to £169,335 from May to July 2019. This was mostly down to a greater quantity of higher value homes being sold last year.

    The average selling price in East Lothian rose by 6.7% compared to last year, while in Midlothian the average selling price increased by 4.7%.

    In West Fife & Kinross, the average selling price grew by 6.1% year on year. Dunfermline saw the average selling price of homes rise by 4.5% to £173,933. In East Fife, the average selling price increased by 3.6%. The average selling price of properties in the Borders, decreased by 3.8% annually falling to £225,898.

    Sales volume and number of properties coming onto the market

    Sales volume in Edinburgh, the Lothians, Fife and the Borders increased by 8.2% annually from May to July 2019. In Edinburgh, the sales volume increased by 9.5% year on year. This increase is largely due to a growing number of homes coming to market towards the end of 2018 and start of 2019, helping to meet some of the strong demand for property. However, the number of homes across all these areas coming to market decreased by 6.3% annually and by 4.2% within Edinburgh.

    Proportion of Home Report valuation achieved

    The average percentage of Home Report valuation achieved Across Edinburgh, the Lothians, Fife and the Borders was 103.2% from May to July 2019. Smaller flats close to the centre of Edinburgh turned out to be highly popular with one-bedroom flats in Polwarth, Shandon and Tollcross achieving 108.3% of Home Report valuation on average and one-bedroom flats in Abbeyhill and Meadowbank achieving 108.2%.

    Selling times

    The average time to sell of properties across all areas between May and July 2019 was 21 days, 3 days slower than last year. In Edinburgh, the median time to sell was 19 days, which was also three days slower than 2018.

    One-bedroom flats in Abbeyhill and Meadowbank, two-bedroom flats in Portobello and Joppa, one-bedroom flats in Polwarth, Shandon and Tollcross boasted a median selling time of 13 days from May to July.

    Rising house prices indicate strong demand

    Business Analyst at ESPC, Jamie Fraser-Davidson, said: “Over the past three months, we’ve seen the volume of residential property sales in Edinburgh, the Lothians, Fife and the Borders continue to increase compared to last year. This is due to a rising volume of properties coming to market at the end of 2018 and start of 2019.

    “However, in the last three months we have seen a fall in the number of properties coming to market compared to last year. Sellers may be becoming less confident as Brexit approaches but rising selling prices and sales volumes show that demand remains strong.

    “The Bank of England’s decision to keep the interest rate at the current level of 0.75% is good news for borrowers. However, with fewer properties coming to market, lack of supply and high demand will likely continue driving up selling prices in the area, making it tricky for first time buyers to get on the property ladder.”

    If you are looking to sell your property, the first thing you’ll need is a Home Report. We are RICS Charted Surveyors specialising in Home Reports across Scotland from as little as £85. Get in touch today to arrange a time to suit you. We offer early morning or evening and weekend appointments. Call us on 0131 608 0175 or email us at info@homereportcompany.co.uk

     

     

    The post Scottish Property Market Update appeared first on Home Report Company.


    How to improve the value of your property

    Whether you want to build equity or get the best offer when you sell, use the tips below to improve the value of your property. Ultimately, it’s worth will depend on how much the buyer is willing to pay but often a few small changes... The post How to improve the value of your property appeared first on Home Report...

    Whether you want to build equity or get the best offer when you sell, use the tips below to improve the value of your property. Ultimately, it’s worth will depend on how much the buyer is willing to pay but often a few small changes can make a big difference to the eventual selling price.

    Even if you are planning to stay in the property for a number of years, understanding how to add value to your home will help you to decide which projects are financially worth carrying out and which aren’t.

    Importantly, you need to prioritise – upgrading the kitchen or bathroom or converting a loft space might seem like attractive options but you ought to start with basic structural and cosmetic repairs.

    Here are a few tips to help you prioritise:

     

    Repair structural issues

    Ensuring the properties roof is not likely to pose problems in the future should always be a priority. There’s no point in spending all your cash on a new kitchen or bathroom to then be landed with a huge bill just to keep your property watertight. Any structural issues that have been flagged-up in your Home Report should also be addressed sooner rather than later as this will reassure buyers that they won’t need to splash cash on repairs before even moving in.

    Update your central heating system

    Upgrading the central heating system will always add more value than you spend. This should be done in conjunction with improving general energy efficiency, such as insulating the loft, sealing windows and doors and replacing windows that are beyond repair with double glazing.

    Re-wiring and plumbing

    If the property is more than 30 years old and has the original wiring, it is highly likely to require updating, at least in part, to meet modern standards, including replacing the fuse box with a modern consumer unit. Rewiring is an opportunity to not only improve safety but also modern convenience – to add more switches and plugs for kitchen appliances, home computers and televisions. If you are selling an older property, a recent rewire can boost its appeal to buyers.

    Redecorate & complete easy upgrades

    Giving your home a lick of paint and doing some general maintenance can be done at a very low cost. Fresh paint in neutral colours can go a long way to giving your home a new lease of life.

    It’s also a good idea to fix all superficial defects. While not likely to be the deciding factor in a house sale, small problems and defects can create an impression of a house being run down or not well cared for. Things to look out for include:

    • Peeling paint
    • Dirty walls, especially near doors frames and around switches
    • Dripping taps
    • Squeaky floors, doors or stairs
    • Mouldy sealant in kitchens or bathrooms
    • Limescale built up on kitchen and bathroom fittings
    • Badly fitted laminate flooring
    • Broken lightbulbs

    More significant issues such as damp should not be covered up. It will show up on a survey and is likely to come back to haunt you later.

    Re-work the layout of your home

    Potential buyers need to be able to visualise what the property would look like if they were living there. People often find this difficult, so make it easy for them to see all the fantastic living space you’re offering them.

    Add an extra bedroom

    The number of bedrooms in a property has a big impact on its value so adding bedrooms will usually add to the sale price, although be aware that there is a ceiling value for every street and so at some point the additional cost ceases to bring any return.

    Give your kitchen and bathrooms a makeover

    If you take the plunge and replace the kitchen and bathroom, don’t go overboard with décor, keep it simple; tiles and taps, can end up costing quite a lot. It’s worth opting for simple, neutral, affordable quality and thinking about what might appeal to potential buyers, rather than making costly decisions based on your own taste. Bathrooms can be bought reasonably cheaply. Go for a standard, white suite. If a dated bathroom is the only thing keeping the value of your property down, it is worth making a minimal investment for a better return.

    Spruce up your garden

    First impressions count and not just when you’re meeting people. Gardens create an important first impression of a property. An attractive outdoor space can add thousands to the selling price of your home, while an uncared-for garden can knock money off and scare away potential buyers.

    Improve your home’s ‘kerb appeal’

    Improving the external look of your house if you’re trying to sell is essential. Most buyers will decide if they like your property before they even get out of their car so create a great first impression by Fix exterior fittings. Make sure that nothing is obviously broken, freshen up with a lick of paint, mow the lawn, clear any clutter and clean your windows. Simple things like adding climbing plants and replacing or adding a house sign or number can make a huge difference.

     

    If selling, you’ll also need a Home Report to be carried out. We are the leading providers of Home Reports across Scotland, carrying out Home Reports at a time convenient to you. We work early mornings, evenings and weekends too and are competitively priced. Give us a call on 0131 608 0175 or email us at info@homereportcompany.co.uk

     

    The post How to improve the value of your property appeared first on Home Report Company.


    Pros and Cons of Valuing Your House Online

    If you’re thinking of selling your home, one of the first things you’ll want to find out is how much your property is worth. With so many online property valuation tools, it can be easy to get quickly excited if it’s proposing that your home... The post Pros and Cons of Valuing Your House Online appeared first on Home Report...

    If you’re thinking of selling your home, one of the first things you’ll want to find out is how much your property is worth. With so many online property valuation tools, it can be easy to get quickly excited if it’s proposing that your home is worth more than you initially thought. Discover some of the pros and cons of using online valuation tools.

    The internet contains a wealth of information for both buyers and sellers, so it is worth taking your time and doing your research, so that you’re not disappointed further down the line.

    Pros of online valuations

    • When beginning your selling journey, online valuation tools can be a great starting point when looking to find your homes market value. Most online valuations are free and you can input the data about your home at a time that suits you, without even having to pick up the phone to speak to someone, or having to leave the comfort of your home. These valuations should however only be used as a ‘guide’ at the outset, to enable you to help guess how much you may be able to afford to spend on a new property. An estate agent will be able to give you a better idea of how much the property you’re looking to sell is likely worth and will also have knowledge of how much other properties in your area have recently sold for, similar to yours.
    • They can also be a good reference tool for buyers as they’ll be able to be able to view house sold prices of similar properties in the area which they are interested in buying and compare them with properties that are currently on the market.

    Cons of online valuations

    • Website valuation tools calculate the figures based on a different set of formula so each valuation will vary slightly. For this reason, they should only be used as a guide to give you an idea of your homes currently market value. Hiring a professional who has local knowledge will be able to give you a far more accurate valuation.
    • It’s also important to remember that the figures these online valuation tools are automatically generated using historic sale information and therefore won’t take into consideration if any substantial work had been carried out at the property to add value since the last recorded sale price, which may affect the potential market value. If there is a significant range of types and designs of properties within the same area, this can also affect the valuation provided. There are so many ‘real life’ variables that an auto generated tool cannot take into consideration.

    Online valuation tools vs a professional valuer

    When carrying out a property valuation, a qualified RICS (Royal Institution of Chartered Surveyors), chartered surveyor will apply their expertise and knowledge of the local area and current property market. They will take into account all the factors which an automated platform can’t, providing you with a far more reliable valuation.

    In summary, online valuation tools can be great as a starting point to give you a guide price when at the start of your journey and want to know how much you may be able to use from the sale of your property to put towards your new home. As results vary so much from website to website, don’t solely rely on the first valuation you do and you need to use a professional valuer for the purposes of putting your home on the market and for mortgage/lending purposes if you are looking to buy.

    Always listen to the professional advice of a surveyor or a valuer from a local estate agent as this is likely to be a more realistic property value. Your home also may also take longer to sell if your asking price is too high or are unwilling to negotiate.

    If selling, you’ll also need a Home Report to be carried out. We are the leading providers of Home Reports across Scotland, carrying out Home Reports at a time convenient to you. We work early mornings, evenings and weekends too and are competitively priced. Give us a call on 0131 608 0175 or email us at info@homereportcompany.co.uk

    The post Pros and Cons of Valuing Your House Online appeared first on Home Report Company.


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