Article Author Mark

Why Should I Use a Chartered Surveyor to Conduct a Valuation?

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What is a chartered surveyor?

A chartered surveyor is a property specialist, who can assess your property’s value and condition. If your property faces any defects or issues which may pose a future problem, the chartered surveyor will distinguish these in a report produced after their inspection. The quantity and depth of information provided in your report will depend on the type of survey you commission. A chartered surveyor also has the ability to complete a valuation on your home based on information he attains.

Should I use a chartered surveyor for a property valuation?

Yes. A chartered surveyor can provide you with professional, experienced opinions about your property. They are property experts who conduct accurate investigations to give you access to all of the necessary advice, before you make any committed decisions.

A valuation will be based off of two aspects: the property itself and things relative to the property. In terms of the property: the age, size, fittings, exterior and interior condition will be considered. In terms of other relevant factors: similar property sales and location will be considered.

A valuation is not detailed like a Homebuyers Report or a Building Survey, but it will outline any obvious major faults with your property and will provide you with a justified opinion about the price.

If you are buying, renovating, or selling a property, then it is a good idea to call in a chartered surveyor. Their valuation will let you know what the value of the property on the open market is; therefore, will indicate if it is a good investment, if it is worth renovation, or how much it should be sold for.  It is important to remember that a valuation is the lowest form of survey you can get and will not provide you with detailed information.

 

What valuation services does a chartered surveyor offer?

A chartered surveyor’s valuation will produce a report which details obvious problems, if they recommend having a more detailed survey completed, and a valuation of the property based on their collected information.

Chartered surveys can offer the following property valuations/advice:

  • All Purpose
  • Pre-Purchase
  • Loan Security
  • Compulsory Purchase
  • ISVA Home Survey Report
  • Taxation/Probate and Visibility Analysis (Planning advice)
  • Public Sector Valuations (to include Right to Buy and Assets valuations)
  • Section 18 Valuations (Landlords and Tenant Act 1927)
  • Independent Expert/ Forensic Work/ Litigation
  • Accounting and Regulated Purposes
  • Corporate Support and Recovery
  • Charity Act Valuations
  • Market Rent Assessment
  • Provide a workable and flexible solution for landlords and tenants that accommodates any issues concerning rent.

 

What qualifications/accreditations should a chartered surveyor have?

You should always make sure you choose a top-quality chartered surveyor who is fully qualified. If they are fully qualified, they will have MRICS in their title.

The RICS (Royal Institute of Chartered Surveyors) is a globally recognisedbody that enforces high valuation standards for its members. They have strict protocol, regulations, and codes of conduct that ensure valuations are completed to the highest standard. Always choose a chartered surveyor who is registered with the RICS.

They should have professional indemnity that guarantees you are protected if they don’t complete an acceptable standard of work. RICS chartered surveys have indemnity insurance.

 

Where can I find a chartered surveyor?

Mallard is one of South West Wales’ leading chartered surveyor valuators.

When choosing a chartered surveyor to valuate a property you should ensure theyhave had prior experience with your property type. Mallard has extensive experience of valuing commercial, residential, educational, and investment properties; development schemes, local authority assets and operational entities. We also know the property market extremely well and are familiar with neighbourhoods and areas across the whole of South West Wales.

 

For more information or to book a property valuation with one of our RISG chartered surveyors, visit www.mallard-properties.co.uk/services/valuation.asp

Article Author Mark

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