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Valuations

Valuations

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Valuation or Market Appraisal?

If you are considering moving home for whatever reason, the first thing you need to know is how much you are likely to achieve on the sale of your existing property. At this point you may well ask three local Estate Agents to call and give you their opinion.

This is often referred to as a valuation but is really a MARKET APPRAISAL and the Agent is looking for business, so could inflate this potential selling price to gain the business.

A Professional Estate Agent will discuss their opinion based on evidence of recent sales of similar properties in the area.

A VALUATION will be a more detailed inspection of the property, usually for a specific purpose, by a Professionally qualified Valuer for any of the following purposes:

Tax Purposes i.e. Capital Transfer Tax (Probate)

Inheritance Tax is paid if a person’s estate (their property, money and possessions) is worth more than £325,000 (2015/2016) when they die. With the increase in property values, more and more estates are coming into a tax liability. Therefore a valuation of the deceased person's home will be required by a professionally qualified Valuer who may then need to negotiate with the District Valuer who represents the Government.

Capital Gains Tax

Sometimes when you sell a property which is not your home, a Capital Gains Tax calculation may require a professional valuation as above.

Divorce (Matrimonial Disputes)

In making a Divorce settlement where amounts are disputed and the matter has been referred to the Court, a professional Valuer may be required by the Court to provide an independent valuation for the Judge. The Valuer will be acting for the Court and not for either of the parties although they will be paying the Valuers fee.

Building Insurance

As the cost of Buildings Insurance increases so does the Premium Tax, so it is important that the amount insured - being the cost for replacing the home - is correct and not artificially inflated. This can happen where the initial amount is index linked by the Insurance Company.

Market Appraisal

We can also offer you a valuation for selling your property, a Market Appraisal. This involves a home inspection taking into account the properties’ unique features, the area and current market conditions.

Click here to request a Valuation

Please specify on the form - under 'Other Comments' - which type of valuation you require.