Property valuations are an important part of the life cycle of owning property, whether you’re a homeowner or a business owner.
A property valuation is an assessment of the current market value of a property and it can be required or used for various reasons, such as securing a mortgage, settling disputes, or even selling a property.
So, when do you need to get a property valuation? This depends on your individual circumstances…
For homeowners, a property valuation is usually necessary when you’re looking to secure a mortgage.
Other situations that may require a property valuation include:
- Matrimonial settlements
- Probate
- Help to buy / Staircasing
- Valuations for Right-to-Buy purposes
It’s also a good idea to get a property valuation every few years for insurance reinstatement purposes, to make sure you’re accurately covered should you need to access your buildings insurance for a rebuild.
For business owners, property valuations are usually required when you’re looking to buy or sell a property, or even when you’re entering into a legal dispute.
It’s also beneficial to get a property valuation every few years, as it can help you to identify any potential problems with the property or any changes in the market value that may impact business decisions or how you choose to structure certain things.
The benefits of conducting regular property valuations are numerous. By enlisting the help of a Chartered Valuation Surveyor, you can ensure that your property is accurately valued and that you’re fully informed of this.
A Chartered Valuation Surveyor is a qualified professional who is experienced in all aspects of property valuation and can provide you with accurate and unbiased advice.
Matthew Parkinson Surveyors are able to offer Valuation Reports for a wide range of purposes. Please get in touch to discuss how we can help you.
