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Exactly what is a Valuation Report?
A Valuation Report is a basic inspection of a house which will determine its value. A property surveyor will look at the house?s location and condition.

It?s important to remember that a valuation report isn't a house survey. A valuation survey provides an impartial consider the property's true market value to understand if what you're paying for it is accurate.

In this guide, Compare My Move explore the costs and timescale of a Valuation Report along with the different kind of property valuations available.
Exactly what is a Property Valuation?
A property valuation will let you set the value of your house and is a thing that both buyers and sellers will need through the entire moving home process. Here we list the various types of property valuation:

Valuation Report
A Valuation Report is an inspection and report of a property which will determine its value, commonly referred to as a Valuation Inspection and Report. It?s important to note, this is simply not a survey and won?t inform you of any structural damage to the property. A valuation report gives a sign of the value of the property and so it can be widely applied to all property types.

A Property Valuation Surveyor can look at the condition and location of your house to provide an estimated value. It?s carried out by a RICS registered property surveyor and was created to help you set the cost of your home for selling. It will also be needed when selling or buying more shares of a Help to Buy home.


Mortgage Valuation
A mortgage valuation may also determine the value of your house. If you?re thinking about using a mortgage to purchase a property, you then?ll need a mortgage valuation to look for the property?s true value and to prove to your mortgage company you can afford the mortgage.

It is for the benefit of the lender and there are certain things they will search for in a mortgage valuation. This valuation doesn't benefit the buyer also it shouldn?t be recognised incorrectly as a property survey. A mortgage valuation shouldn?t be relied on and Find more info must always get yourself a property survey when buying a house.

Estate Agent Valuation
An estate agent?s valuation may also help you set the worthiness of your home. They will use their expert local understanding of the property market to price your home, looking at similar properties in the area, too. It's worth noting that you'll need to compare at least 3 estate agents valuations in terms of selling your home.
What Does a Valuation Surveyor SEARCH FOR?
A Valuation Report is not as detailed as the other survey types available, simply offering you an overall valuation of the house and any obvious defects that could affect the price. You won't highlight any hidden problems which explains why a Homebuyers Survey is often recommended. You may also ask for a valuation alongside the Homebuyers Report, ensuring you obtain more for the money.

The valuation depends on the surveyor's knowledge of comparable prices regarding the local area along with other research. The surveyor is only going to note down any obvious defects or damage which will affect the house?s price. Unlike the other survey types, you will not be advised on any maintenance or repair work needed. The health of the house is observed and visible issues like damp, electrical problems and obvious structural damage are highlighted. As it isn't as thorough as other inspections, the report is usually only 2-3 pages long.

The main things the surveyor may look for includes:

if the property is of traditional, or non-traditional construction
a brief inspection of the property's overall condition
obvious signs of damp, structural damage, faulty wiring, roof damage etc.
if the building has been modernised or refurbished
whether the amount of bedrooms declared is accurate
how it compares to other houses in the neighborhood area

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