Your house is one of the investments that you treasure with the hope of making a good return from it when you want to sell it. Even then, your dreams may be crushed when you are faced with a property valuation marked down by a surveyor.
This can be frustrating especially when you are selling in order to move to your dream home. Thus, it is important that you ensure you get you get the best property valuation report from the onset. This way, you can be sure to set the right asking price that is important when you want to sell your house fast.
One thing that you need to understand is that the surveyor is human hence, they will rely on the evidence that is presented before them. Here is an insight on how to ensure you get the best valuation for your property:
- Meet the surveyor on site – It is advisable to avail yourself on site when the surveyor is conducting valuation of your property. This way, you can ensure they are free to access every area they need to and respond to any questions they may have.
- Talk to the surveyor about any home improvements you have done – If you have recently made any improvements on your property, be sure to let the surveyor know. This may be redecoration, replacement of the kitchen or bathroom or putting up an extension. Talk about all the structural works you may have done such as fixing the roof. This is because while some of these are obvious, others will require that you do a little explanation.
- Discuss about the money you paid for the property and how you have added value – Estate agents tend to be too secretive when asked about the amount of money property was sold for or even the offers that are on the market especially when surveyors ask for comparative evidence. You will do well to let the surveyor know how much you paid for at the time when you purchased it and if there were any circumstances that influenced the price. If you demonstrate why you paid a lower price at the time of purchase, you may then increase the valuation you will receive from the surveyor
- Talk about comparable evidence if it will work to your advantage – If, for example you know the price for which the house next door was sold and it is what you are seeking to achieve, inform the surveyor about it. While it is likely that he is already aware, you may want to share information that shows proof that the prices of property in the area has gone up by a certain percentage since the sale of the house next door. You could consider supplying data to prove this.
- Discuss estate agent views – You must be honest enough with the surveyor to discuss the views of estate agents that you may have already valued your property. This is important as it can show the degree of local knowledge that your surveyor may use. You can present the paperwork from the agents complete with valuation estimates. This is usually important because decent agents will give a report that captures comparable evidence as well as their reasoning behind it.
- Discuss about offers you may have received – Let the surveyor know if you have had more than one offer for the property that is close to the price you hope to achieve. However, if the offer was under the price you are hoping to achieve, then do not share this information as it could work against your valuation.
Read more at http://www.rics.org/uk/