How Much Is My House Worth? A Guide To Valuations
When it comes to selling a property, the most important thing is the value of your home. It’s the benchmark for the price you should be selling at, and there are a number of things that are taken into account when it comes to valuing a home.
Below you’ll find all you need to know about property valuation, including what they are, who carries them out and how to get a valuation on your property today!
What is a Property Valuation?
A property valuation is ultimately the price of what your home is worth according to a surveyor.
The valuation is an assessment that takes into account a variety of factors and it is the price that you would then put your home on the market for.
Additionally, if you are looking to sell due to a divorce to a partner or if you’ve received the house via probate it is also useful to gain a valuation on the property.
Who Carries Out A Property Valuation?
A surveyor will complete the valuation of your home, while a mortgage lender will also do a valuation on your property, although they are slightly different.
A surveyor’s valuation is much more in-depth and is the true market value of a home based on dozens of factors. A mortgage lender’s valuation is more to establish that the home is what you say it is worth.
A mortgage lender will only lend you the amount that they have valued a home. So if you were to bye buying a house priced at £250,000 but the valuation suggested it was only worth £200,000, then the mortgage lender will only lend £200,000.
What Is Considered When Valuing A Property?
When a surveyor values a property, there are tons of things taken into account.
The market value of a property is based upon the size, location and condition of a property in its most simple form. That means factors such as number of bedrooms, size of garden, any out buildings, the neighbourhood, schools in the area and much, much more.
Get An Offer On Your Property Today
If you’re looking to sell your property, then we can make you a cash offer, with a sale possible in as little as a week.
We can buy a house in any condition and the offer we provide you with is what you’ll receive, with no hidden fees and all solicitor costs paid by us.
If you’d like to know more, get in touch with one of our experts today, who will be more than happy to talk you through how it works, and the next steps for you to sell your property to us today!