What Happens as a Home Valuation?

09 June 2022

If you are selling a residential property in Scotland, whether it’s your home or a rental property, the starting point is usually to an indication of what the it is likely to sell for.

 

Most people opt to invite a local expert solicitor estate agent to visit their property and provide them with a valuation or pre-sale appraisal. Larger firms tend to have a team of professional valuers or surveyors who will carry out the required research and visit your property to perform the valuation.

 

If you are wondering about what happens during a valuation and how to prepare for a professional valuation, here is your guide! Managing Director of MOVB, Robert Caroll, has provided an overview of the valuation process and how best to prepare for one, answering the following key questions:

 

 

 

What is a house valuation appointment?

 

The valuation appointment involves a valuer visiting your property, getting an accurate impression of the condition, layout and any unique features of your property, and then providing you with a researched estimate of how much your property is likely to sell for in the current market conditions.

 

Some estate agents can offer you the option of a ‘desktop’ valuation. With this, they do not visit the property, they instead will email you an estimate of the property’s expected market value based on your description. This estimation however, will not be as accurate as if a valuer has visited your property in person.

 

A valuation of your property by a valuer who has physically visited your property is the most accurate option. A valuer coming into your home and having a walk around results in a much trier figure for the ultimate selling price.

 

How do I prepare for a house valuation appointment?

 

If you want to get the most out of your valuation appointment, a little bit of preparation will be very helpful. A good spring clean can make a world of difference and will allow the valuer to view the full extent of the property without any distractions. Also, don’t forget the exterior, this can often be overlooked, remember you only get one chance to make a good first impression!

 

If you have any questions regarding the selling process, the cost of selling or any questions about buying your next property, make a note of them and your valuer should be able to help answer them at the valuation appointment or find out for you once they’ve left. 

 

During the walk around, it is worthwhile letting the valuer know of any improvements and alterations that you have made to the property since you bought it.

 

How is a house valuation calculated?

 

The house valuation is usually calculated by reference to similar properties that have sold or that are available for sale in a similar geographic area.

 

For properties that are slightly more unusual or remote, different techniques are used. The valuer will take into consideration local property market conditions, the selling history of the area, local amenities and will look at what other similar properties might be on the market at that time.

 

How long does a valuation take to complete?

 

Valuation appointments usually take less than an hour, although it can be completed considerably faster if required.

 

How do I choose the right agent based on the valuation?

 

Sellers usually get valuations or pre-sale appraisals from more than one local expert estate agent. We know it can be tempting to go with the highest valuation. However, it is important to beware of agents who are competing for business purely based on providing the highest valuation. Sellers should always make sure that the valuation provided is completely backed up by research and comparable sales data. 

 

What about the Home Report?

 

It’s important to remember, in Scotland, the Home Report will have a significant impact on the selling price of the property. The majority of buyers will want to use the Home Report for the purposes of their mortgage valuation and their borrowing will be based on the Home Report valuation and not the asking price of eventual purchase price.

As the Home Report costs money, it is typically produced after the estate agent’s valuation and after sellers have selected their estate agent. Therefore, it is worth discussing the Home Report process with the valuer and getting an estimate of what the valuer believes the Home Report valuation will be. 

 

After the valuation appointments, most sellers will then instruct one of the companies that provided a valuation to market their property for sale and to act as their solicitor estate agent throughout the sale. 

2022

Most Common Property Questions Answered 2022-06-23 Overpaying a Mortgage 2022-06-17 The Buying Process in Scotland 2022-06-14 What Happens as a Home Valuation? 2022-06-09 What is a Closing Date? 2022-06-03 Here's What You Need to Know About Downsizing 2022-05-30 What Does 'Property Chain' Mean? 2022-05-26 Why You Need the Right Insurance When Taking Out a Mortgage 2022-05-24 Staging Your Home for Selling 2022-05-17 Buying a House in Cash 2022-05-10 The Selling Process in Scotland 2022-05-05 Strongest Ever Spring Sellers' Market 2022-05-03 Understanding a Home Report 2022-04-26 How Will the Cost of Living Crisis Affect the Property Market? 2022-04-22 A Guide To Buying a House or Flat in Scotland 2022-04-18 Thinking of Buying an Investment Property? Here's What You Need to Know 2022-04-12 What's Happened to the Property Market Since Covid-19? 2022-04-06 Energy-Saving Tips For Your Home 2022-04-01 Understanding Your Property's Value 2022-03-28 Why It's Best To Sell Your Home Before Buying Your Next Property 2022-03-24 The Differences Between Buying and Selling Property in Scotland and England 2022-03-21 The Differences That Come with Using a Solicitor Estate Agent 2022-03-16 Want To Sell Your Home Fast? Here's Our Top Tips! 2022-03-10 Fixed Rate or Variable - What's the Best Mortgage? 2022-03-08 Building Survey's - What are they? 2022-03-03 Questions every first-time buyer should ask! 2022-03-01 What Is Required for a Successful Mortgage Application? 2022-02-22 Your Offers Been Accepted - What Happens Next? 2022-02-15 Joint Property Ownership - Everything you need to know 2022-02-09 Mortgages in 2022 - What Could Happen? 2022-02-05 4 Tips for Saving a Deposit 2022-02-01 Reminder - The Law on Fire Alarms is Changing 2022-01-25 The 2022 Scottish Property Market - What Will Happen? 2022-01-21 Top Mortgage Tips for First Time Buyers 2022-01-18 What's the difference in using a solicitor estate agent? 2022-01-11

2021

How the Scottish Housing Market has Changed Over the Last 50 Years 2021-12-27 Can I Get a Mortgage Without Permanent Residency? 2021-12-20 Property Conversion - Everything You Need to Know 2021-12-15 Asking Price - Everything You Need to Know 2021-12-06 Using a Home Report When Buying a Property 2021-11-29 What is Shared Ownership? 2021-11-24 What You Need To Know About Getting a Mortgage When You're Self-Employed 2021-11-19 So, What Is a Mortgage Agreement in Principle? 2021-11-08 Why You Should Use a Solicitor Estate Agent When Moving House 2021-11-03 Thinking of buying a listed property? Here's what you should know 2021-10-26 Everything You Need to Know About EPC Registers and Certificate Guides 2021-10-25 How much can I afford to borrow? 2021-10-20 Nine Steps to Selling Your Home 2021-10-18 Climbing the Property Ladder 2021-10-11 Fire Alarm Laws are Changing in Scotland 2021-09-27 Research You Should Conduct Before Buying a Property 2021-09-20 The LIFT Scheme and How You Can Use It To Buy a Home 2021-09-17 The Latest Scottish Government Guidance on Property Viewings 2021-09-10 NORMAL SERVICE BEING RESUMED IN A BUOYANT HOMES MARKET 2021-08-31 Should You Refurbish Your Property? 2021-08-18 Preparing Your Home for a Successful Sale 2021-08-13 Mortgage Interest Rates - What are they? 2021-08-09 Helping You Consider the Right Location for Your Next Move 2021-07-26 Tips For First Time Buyers To Help Get Them on the Property Ladder 2021-07-19 Scotland's First Home Fund is Closed, What Other Schemes Can Help First Time Buyers? 2021-07-12 Retirement Interest Only Mortgages - What You Need To Know 2021-07-07 How the UK Mortgage Market Has Changed Due to Coronavirus 2021-06-30 How To Boost Your Mortgage Deposit 2021-06-21 New Rules For Fire and Smoke Alarms in Homes Across Scotland 2021-06-17 Preparing To Put Your House on the Market in 5 Key Steps 2021-06-14 How Much Mortgage Can I Get For My Salary? 2021-06-09 How Long Does it Take to Buy Your First House or Flat? 2021-06-02 Is Your House Ready to be Sold?: House Selling Checklist 2021-05-31 What is a Mortgage Agreement in Principle? 2021-05-25 All You Need To Know About EPC Registers and Certificates 2021-05-19 Making the Most of House Viewings 2021-05-12 How the Coronavirus Pandemic has Changed the Priorities of Scottish Home Buyers 2021-05-05 Top Tips on Preparing to Buy a House 2021-04-26 What You Need To Know About Overpaying a Mortgage 2021-04-21 Advice on Buying a Property During the Covid-19 Pandemic 2021-04-14 How the UK Mortgage Market Has Changed Due to the COVID-19 Pandemic 2021-04-13 Scotland's First Home Fund: Applications Now Closed 2021-04-09 Scotland's First Home Fund 2021-04-07 Scottish Stamp Duty Holiday: How Did LBTT Change and When Did it End? 2021-04-06 Property Questions Answered 2021-04-02

2020

Tayside housing market back with a bang 2020-12-10 Digital Guide 2020-05-27

2019

The property market across Scotland - Quarter Two 2019 by SPC Scotland 2019-10-16 LORD PROVOST OPENS NEW-LOOK CENTRE 2019-09-17 The Dundee property market 2019-06-24 A 427 MILLION BOOST FOR THE HOMES MARKET 2019-01-21

2018

Budget Proposals to the ADS Rate 2018-12-18 BUYING OR SELLING GET THE FACTS 2018-08-24 BUYING INTO LIFE ON THE WATERFRONT 2018-08-23 As moving day looms dont panic just prep 2018-05-17 THE BEST OF BOTH WORLDS FOR HOMEBUYERS 2018-04-03 HOME COMFORTS FEND OFF BEAST FROM THE EAST 2018-03-07 V&A DATE MILESTONE FOR THE WATERFRONT 2018-03-02 FLAT SALES EDGE TOWARDS £100 MILLION 2018-01-23 PROPERTY SALES PUSH TOWARDS THE £440 MILLION MARK 2018-01-08

2017

FESTIVE GREETINGS FROM ALL AT THE TSPC 2017-12-19 PUTTING DUNDEE ON THE MAP 2017-11-15 TIME TO BRING YOUR HOME TO THE MARKET 2017-11-01 AUTUMN IS A GOOD SEASON FOR SELLING 2017-10-17 HIGH PROFILE OPTION FOR TOP PROPERTIES 2017-10-09 MARKETING YOUR PROPERTY TO THE MAX 2017-08-21 DO YOU LIKE TO BE BESIDE THE SEA? 2017-06-15 TIME LOOMING FOR A RE-MORTGAGE 2017-06-09 HAS THERE BEEN A BETTER TIME FOR A HOUSE SALE 2017-05-26 TIME TO PUT YOUR FLAT ON THE MARKET 2017-05-04

©2000 to 2022 TSPC Holdings Limited and its licensees. All rights reserved. The content on this page is protected by intellectual property laws. Your use of this website is subject to our Terms of Use.

TSPC is the trading name of TSPC Holdings Limited, a limited liability company registered in Scotland No 279747 and Tayside Solicitors Property Centre Limited, a limited liability company registered in Scotland No 279746. The Registered Office of both Companies is 11 Whitehall Crescent, Dundee DD1 4AR.

About | Terms & Conditions | Privacy Policy | Cookies

Design: Plexus Media Ltd, Inverness | DJS Creative Marketing Ltd, Dundee | Credits

TSPC