Posts Tagged ‘Market Valuations’

I will be brief:

Please study this web-site: I am a heavyweight Residential Property professional and I need help NOW. Can you help me?

My contacts and web-site generate a large number of requests for help. Often this is for free advice but I do not mind as the goodwill generated is massive and such people often then recommend me to others who do become clients of the fee earning type.

This volume of referrals means that have need a National Network of similar Surveyor/Valuers. Members of experience and professionalism who have very higher standards of customer care.

I am looking to one or two Surveyor/Valuers in each County and perhaps several in London and the bigger Cities.

Fairly minor start-up costs will be required (to be agreed, to agree service level standards and uniform documentation etc…) and then PROinspect would take a commission for anything you can take on (it would be your choice).

At this early stage I have no further written details.

If I am striking a cord with you and you can see the sense in what this opportunity offers then e-mail me in the first instance and I wil then call you to discuss.

Typical tasks would include —–

1. Seller and Purchaser Surveys
2. Market Valuations
3. Divorce Valuations
4. Specific Defect Reports
5. Expert Witness Reports
6. General Consultancy Services.

E-mail me at stuart@proinspect.co.uk

Firstly, let’s dispel a myth: if you ask an Estate Agent to give you a Valuation what do you get? They call them a Free Market Appraisal and some might not put that opinion in writing. Why? Because what you get is simply an opinion: it is not a professionally binding opinion and liability does not stem from that opinion (you cannot sue them).

Secondly, let’s dispel another myth: if you request a Loan Company mortgage Valuation what do you get? One – the valuation is prepared for loan purposes and the sum quoted may be lower than market value for in-house Loan Company reasons unrelated to your needs. Two – if you are buying a brand New Home the chances are that in this post-recession world the loan company will have instructed their Panel Valuer to down-value your purchase because the security offered (the new home) is in its re-sale value when it is not “new”.

Football in the sun: before the rain.

Valuations can be needed for Court purposes eg: divorce settlements, Probate and Capital Gains tax purposes, Tax Planning purposes, to advise of whether alterations may be wise and economic, for sale or purchase etc……. The circumstances that surround the request may lead us to consider other market and property aspects that alter our opinions of worth.

So, what is the definition of market value?

The only way to get a professional opinion of value, one where you can sue the Valuer if he/she is wrong, is if you request that report yourself. The wise purchaser does this via either a request for a private valuation or asks for a private survey that includes an opinion of market value. The most popular form of survey product can fits this description is the R.I.C.S. Homebuyer Report (for details see elsewhere on this site).

PROinspect can provide Market Valuations. We would need to inspect the property and complete market research, including a analysis of price-paid data (that is historic) and take into consideration the market and the property.

Why would you need a professional opinion of value? This depends on why you need advice and whether you agree that independent opinion is of worth. Some might say that a Loan Company valuer can provide an impartial opinion – conversely, the credit-crunch has told us that millions of mortgagees are out of pocket because of the Banks and of home buyers had taken advice from professionals outside of the Estate Agency and Loan Company then perhaps the hole they are now in wouldn’t have been so deep.

If you believe that a Sellers’ Estate Agent and your own Loan Company place your best interests over their own then you do not need PROinspect.

If you don’t believe this then use the CONTACT FORM to ask for help and advice once you believe the time is right for you. Initial advice is free so what have you got to lose?

I have inserted this reference page as much confusion reigns in the marketplace about what is, and who does, a detailed house valuation or survey.

Need a detailed House Inspection Survey? A Structural Survey?

It is easy to lapse into jargon that not everybody can understand. Also some clients ask for the wrong survey option EG: Many clients ask for a Structural Survey (a Level 3 product) but in fact they mean something else.

What the client wants is a Building Survey (a Level 3 product), perhaps with a Market Valuation (a Level 1 inspection product): somebody has told them that they need a full Structural Survey and so that is what is requested.

The key is to know what drives the need for a survey. This is why PROinspect place such high emphasis on one-to-one talking to all clients. If we understand why you need a report and what that report is going to be used for then we can recommend the best and most relevant survey product.

Many years ago House Surveyors did basically three services – Valuations (level 1), Homebuyer Reports (level 2) and top-of-the-range Structural Surveys (level 3). This became very confusing because Structural Surveys were also being completed by Structural Engineers, Chartered Surveyors, Chartered Building Surveyors, various differing forms of Engineer etc….. Often each version of a Structural Survey was completely different and the Public were highly confused.

The main Controlling Bodies eventually came together and decided enough-was-enough with the result that nowadays these Professionals offer the following services (related to House selling/purchase):-

Structural Engineers – Forsenic diagnostic reports on structural movement including load-bearing calculations. Often described as “you know you have a problem, now let’s analysis it”.

Chartered Surveyors (PROinspect) – House Building Surveys (condition reports) on the very large majority of UK housing. Can include Market Valuations.

Chartered Building Surveyors – Usually highly detailed Building Surveys but in circumstances where exposure of foundations etc… may be required (or other “further investigations”). Can include repair costings but generally cannot provide Market Valuations.

Various differing forms of Engineer – Without wishing to be too elitist such persons usually offer only a diluted or partial service.

Home Inspectors – Most cannot or could not complete a Building Survey or Valuation. These complete Level 2 survey products alone.

Most UK Buyers, Owners and/or Sellers use Chartered Surveyors for survey requirements.

By the way, don’t get confused about qualifications: the professional heavyweights have FRICS after their name. AssocRICS and MRICS are valid qualifications also but these persons may have limited experience compared with FRICS members of the Royal Institution (RICS).

You can check Surveyor qualifications at this website RICS.

Don’t think that you get decent advice in a full Building Survey. A well crafted level 2 Survey Product will give you what you want to know about the presence of defects and the effect they have on property value; what a level 2 product may lack is some of the finer detail in terms of extensive explanatory comments. Don’t forget you can always call your PROinspect Surveyor if you want additional advice: we don’t charge extra for talking to you!

NEED ADVICE?

Try the SEARCH Box facility (below, left), click on an Article Heading (below, left) or simply read on….

• BUILDING SURVEYS with or without VALUATION advice
• HOME VALUATIONS by an RICS Registered Valuer
  
• HOMEBUYER REPORTS or SELLER SURVEYS
• AUCTION or QUICK-WALK-THROUGH Appraisals
  
• Update your BUILDING INSURANCE SUM INSURED
• Is DAMP REALLY DAMP or actually CONDENSATION as a result of your lifestyle?
• Is that CRACK the beginnings of SUBSIDENCE?
• Divorce or Negligence Court-Compliant EXPERT WITNESS Reports/Valuations.

Hello, I’m Stuart Parrett. I am a truly independent, knowledgeable and experienced Chartered Surveyor and housing specialist. I am in the PEOPLE and HOMES Business where Information Discovery is all important.

I survey homes for faults and worth/value but it is not what I do but HOW that separates PROinspect from competitor surveyors.

THE HOUSE DOCTOR IS IN:

HOW CAN I HELP YOU?

SOMETHING of VALUE for you —-

1-  Do you have a SEPTIC TANK DRAINAGE system?

NEW Environmental Permitting Regulations cover even old septic tanks, which may previously have escaped regulation, but are now controlled and must be formally registered with the Environment Agency by 1^st January 2012. Failure to register is a criminal offense. Click this link PrivateDrainageChanges2012 for an Environment Agency Brochure that explains all.

2-  CONDENSATION SEASON IS UPON US – have you looked in the back of the wardrobe recently or in “that corner”?

Cold = drop in dew point = cold surfaces will attract condensate: Quick Fix – create airflows and reduce the amount of vapour in the air. Longer Term Fix = Raise the wall temperature by lining it with XXXX; properly kill off mould spores; introduce sensors that apply venting or temperature changes to the environment. Simple.

What often works is opening the window for as long as possible during and after sleeping/baths/showers/cooking (this removes water vapour that then cannot condense on your clothes and walls). You loose heat during this process and so you need to learn how to achieve these goals intelligently without icicles forming on your nose.

For more information on me, my CV etc… – click here and scroll down. Alternatively, look me in the eye by watching a short VIDEO – CLICK HERE. TheHouseSurveyor at YouTube will also deliver several important messages for those looking to purchase or those you wish to become Residential Surveyors and/or Valuers.

Those who have kindly provided testimonials for me say that I can be considered a safe pair of hands, somebody who is a real communicator and a provider of detailed and robust opinions.

Good reasons for using me in the central south coast area include that I take the time to listen to you and then help you make the right choice of survey product and have it completed at the right time. After this I genuinely communicate with you and don’t simply mail a report to you and that is it. No, I am always available for questions and meetings because you need to be re-assured your purchase is both a wise investment and you are not buying a problem.

I protect the biggest investment you’ll ever make in your life – your home – and I work with you every step of the way…..

I’ve brought together a lot of valuable information to help you organise property problems, alterations, private surveys and other services surrounding ownership, maintenance, sales, purchases and Expert Witness Reports.

CALL ME for a free chat and advice on 078 3636 3040 —

• THE GOLDEN RULES OF SELF-PROTECTION DURING HOME BUYING =

1. When your “offer” has been accepted make sure you already have a loan deal secured in principle
2. Make sure you DO NOT agree to a combined Loan Valuation and Private Survey
3. Actually speak to a Surveyor (PROinspect down south) – do not accept an Assistant or a Secretary
4. Find out your Survey Product options, fee costs and the manner in dealing with any special concerns you have
5. Do not fall for quick deals or “linked” services often packaged by costly middlemen Agencies.

STUART PARRETT

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Browse the site and when you’re ready to ask for advice give me a call or fill in the Form on the right. To get the best out of us you need to be briefed as to your options, survey costs and a lot more. As a starting point be as specific as you can as to what you need from us – use the CONTACT FORM (top right on your screen): EG: Detached house – perhaps 50 years old – £400,000 agreed – Building Survey with Valuation needed – being sold by XXX Estate Agents.

PROinspect are led by Stuart Parrett who has an unrivalled pedigree as a specialist Home Surveyor of over 35 years Hampshire experience.

If you wish to read even more of my views on a host of house and survey matters go to ezinearticles.com by clicking of the above icon. Or follow me at Twitter (@SurveyAuthority).