Getting property valued without an estate agent
Discussion
I have managed to contact the owner of a house that has been vacant for a year or two.
They live abroad, and I think have 'forgotten' about the house.
They're keen to sell, and would prefer selling to us, without estate agents etc.
Its an unusual size and layout for the area, so I dont have any recent sales for comparison.
So, how do I get it valued?
They live abroad, and I think have 'forgotten' about the house.
They're keen to sell, and would prefer selling to us, without estate agents etc.
Its an unusual size and layout for the area, so I dont have any recent sales for comparison.
So, how do I get it valued?
You can get it valued by estate agents without engaging them formally.
Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
Don't send an Estate Agent in on a 'Free' Valuation. Chances are he will a) spend most of the time persuading your vendors that they should market the property and b) price it to tempt them accordingly.
Better off with a local Chartered Surveyor. Try http://www.localsurveyorsdirect.co.uk/ if you are not sure who to use.
Valuation Survey is what the lenders use. Essentially makes sure that the property is not going to fall down any time soon. Homebuyers is more detailed and should take a few hours. I have heard say that surveyors can be cautious so you need to read the report with this in mind.
Depends on the age of the building, your knowledge of these matters and the general area as to which is best suited to you.
Better off with a local Chartered Surveyor. Try http://www.localsurveyorsdirect.co.uk/ if you are not sure who to use.
Valuation Survey is what the lenders use. Essentially makes sure that the property is not going to fall down any time soon. Homebuyers is more detailed and should take a few hours. I have heard say that surveyors can be cautious so you need to read the report with this in mind.
Depends on the age of the building, your knowledge of these matters and the general area as to which is best suited to you.
NDA said:
You can get it valued by estate agents without engaging them formally.
Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
Will the 'un-engaged' estate agents valuations be accurate though? Surely they are likely to inflate their 'pre engagement' estimate so you as 'seller' would engage the one you felt would achieve best value. (Once they have you signed up they will persuade you to drop the price and/or accept low offers so they get their comission.)Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
If you want a proper valuation then use a surveyor and pay him.
Surveyor shouldn't charge more than £300 for a basic valuation although try having a crack yourself and as I said above take your findings to the owner.
Get recent online historic data for properties like the one you're looking at (preferably in the same street) using sites like Our Property, Zoopla and Net House Prices.
Although this information will be out of date it will provide you with a baseline of selling prices rather than asking prices.
Then fast forward to the current market...
Speak informally to local agents about current prices and demand.
You can research current asking prices on the web using the likes of Rightmove. But you'll also have to speak to local agents.
Local estate agents will be able to talk to you about very recent and current sales and market sentiment. If any estate agents have 'for sale' boards up in the immediate vicinity contact these first. Note that legally speaking, agents cannot reveal how much a property sold for until three months and one day after it sold. But they should be able to comment on the relationship between asking and sold prices.
In England and Wales the most comprehensive source of individual house price information can be found at Land Registry and is useful if you want to know the price specific houses sold for.
Get recent online historic data for properties like the one you're looking at (preferably in the same street) using sites like Our Property, Zoopla and Net House Prices.
Although this information will be out of date it will provide you with a baseline of selling prices rather than asking prices.
Then fast forward to the current market...
Speak informally to local agents about current prices and demand.
You can research current asking prices on the web using the likes of Rightmove. But you'll also have to speak to local agents.
Local estate agents will be able to talk to you about very recent and current sales and market sentiment. If any estate agents have 'for sale' boards up in the immediate vicinity contact these first. Note that legally speaking, agents cannot reveal how much a property sold for until three months and one day after it sold. But they should be able to comment on the relationship between asking and sold prices.
In England and Wales the most comprehensive source of individual house price information can be found at Land Registry and is useful if you want to know the price specific houses sold for.
mrmr96 said:
NDA said:
You can get it valued by estate agents without engaging them formally.
Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
Will the 'un-engaged' estate agents valuations be accurate though? Surely they are likely to inflate their 'pre engagement' estimate so you as 'seller' would engage the one you felt would achieve best value. (Once they have you signed up they will persuade you to drop the price and/or accept low offers so they get their comission.)Were I to sell a house without using agents for the sale/purchase, I would have 3 agents come and value it and take the average across the 3. Once they've given you a value, you don't need to use them or sign anything.
Do you have access to the property?
If you want a proper valuation then use a surveyor and pay him.
Certainly having a few valuations this way would cost nothing and should be informative.
Why worry about 'market' value?
What is the house worth to you? If the sellers are miles away and are not too fussed about the property maybe offer a figure you feel would be fair and can afford. If they are not greedy and want some quick cash in then why not?
Shy bairns get nothing as us northerners would say.
What is the house worth to you? If the sellers are miles away and are not too fussed about the property maybe offer a figure you feel would be fair and can afford. If they are not greedy and want some quick cash in then why not?
Shy bairns get nothing as us northerners would say.
There are quite a few surveyors on here so one that does this type of valuation might wander along. Although a surveyor I dont do residential valuations.
It would help though if the OP gave an indication of where they are as it will make it easier for people to give recommebdations.
However I would suggest getting a valuation done as it will provide both sides with some certainity. The OP doesnt want any relatives still in the UK to start stirring it!
It would help though if the OP gave an indication of where they are as it will make it easier for people to give recommebdations.
However I would suggest getting a valuation done as it will provide both sides with some certainity. The OP doesnt want any relatives still in the UK to start stirring it!
RobDickinson said:
Didnt think an estate agent could legaly value a property, they can sugest a selling price is about it(given their market knowledge).
Anybody can 'value' a property. For Lending Purposes a lender would only accept a valuation that meets their criteria. Often that is a panel lender, but some will accept other valuations, which are carried out by a Professional, with appropriate insurance, experience and a number of partners etc.....The surveyor will probably give you the most realistic and non inflated value. However, the only way that they will acheive their end figure is by local Estate Agent knowledge and sold prices on the net which you can do too. I would do your own research, then engage a surveyor. Present this to the owner, they will probably then want their own survey valuation done and then you will all have satisfied yourselves.
If you do go down the route of getting 3 agents in then this is viable but try not to use young aggressive Foxton type agents, go for the old school established offices. If you are upfront about what you are doing most good agents will be happy to help with a view that you may use them in years to come if you sell.
If you do go down the route of getting 3 agents in then this is viable but try not to use young aggressive Foxton type agents, go for the old school established offices. If you are upfront about what you are doing most good agents will be happy to help with a view that you may use them in years to come if you sell.
When I wanted my house valued for a pre and post extension value, the local estate agent did it for free, even though initially contacted them trying to pay them to do it.
If you really don't want agents involved, look at properties in the same area, and work out the value per sqm, take an average, then multiply the value by the sqm of the property.
If you really don't want agents involved, look at properties in the same area, and work out the value per sqm, take an average, then multiply the value by the sqm of the property.
Road Pest said:
Is it going to have a mortgage secured to it? If so it may be worth using the surveyors the lender would use and maybe save a second valuation after a decision in principle from the lender. If you are porting the mortgage then speak to your lender about who to use.
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