Getting your a house valuation is the first step to selling your house.
And even if you aren’t selling your house, knowing its value is often worthwhile.
There are several ways to get one. Read on to find out about each one.
Ways to get a house valuation
With an estate agent
Estate agents will provide a valuation for your house. They will visit it in person and look around for 30 minutes to one hour.
Once this is done, you will receive a rough valuation of what it could sell for. The estate agent will not typically charge for valuations.
With a chartered surveyor
A chartered surveyor is another professional who provides valuations.
You should search for ones in your area and ask them to visit your property and make a judgement.
These individuals are non-biased and are not trying to sell your house. You are thus more likely to get an accurate opinion from them.
With online estate agents
Several large organisations provide online house valuations. Rightmove and Zoopla are two well-known examples.
These organisations will ask for all the key details about your house. This includes:
- Number of rooms
- Square footage
- Garden space
- Parking allocations
- Nearby amenities.
And more.
You could also be asked to provide a virtual walkaround tour of your house. This can be done via Zoom link, Skype or Microsoft Teams.
With cash buyers
Cash buying companies will value your house for free via an online valuation.
Their valuation will be below the market rate. This is the amount of up-front cash they will pay for the property.
You can sell to these companies quickly and in any condition, which explains the difference in valuation.
True value vs market value
You should remember that not all valuations are handled in the same way.
For example, a property’s ‘true value’ is what the house is worth, independent of all exterior factors.
Its ‘market value’ means what it would sell for on the open market. In other words, what people are willing to pay is based on economic factors.
Who is legally allowed to do a house valuation?
In theory, most of the time, it is your choice what you list your house on the market for.
But in practice, you usually need an ‘official’ valuation completed by a qualified expert.
Banks may not lend the full mortgage value if they disagree with the selling price value. In these cases, they will send a surveyor to value the house.
And when you inherit a probate house, a RICS surveyor must give a valuation. This will impact the inheritance tax you need to pay.
Can I do a house valuation myself?
Use online tools to value your own property
Online tools guide the value of your property.
Zoopla, for example, shows the selling prices of properties in your area.
You can find one similar to yours and use this as a benchmark. Compare square footage, bathrooms and garden space as a basis.
And there should also be a record of what your house has sold for in the past.
How long does it take to get a house valuation?
If you contact an estate agent to arrange a house valuation, they can usually visit you within two weeks.
A RICS surveyor may be available on even shorter notice.
Once the valuation is complete, you usually receive a figure within 48 hours.
Online platforms and cash buyers will give valuations almost immediately.
Keep in mind that the valuation is meant to be accurate at the time it’s made.
Over several months, with changing economic circumstances, it may need to be adjusted.
How We Buy Any Home can help
We Buy Any Home are chain-free cash property buyers. We can purchase your property up-front and quickly, without hassle or stress.
We offer the perfect opportunity for you to sell your house quickly.
Fill in our enquiry form below if you want a cash offer for your house.
