What’s the difference between a valuation and a survey?
It’s very easy to be confused between a valuation and survey, but the two are in fact very different and homeowners should be aware of the key differences:
- A property valuation is a simple report that advises on the market value of the property. Not to be confused with a marketing appraisal provided by an estate agent to advise on the asking price and likely sale price. A professional valuation is provided by a qualified surveyor (RICS registered valuer) who will take account of the overall general market conditions and state relevant comparable evidence to arrive at their professional opinion. This is the same as a valuation commissioned by a lender for a mortgage offer. However, it will only mention any defects that will significantly affect the property value.
- A survey is normally commissioned by the buyer of the property. A RICS qualified Surveyor will conduct a thorough examination of the property and produce a written report for the purchaser which will contain detailed information about the value and condition of the property, often in addition to environmental and other concerns.
Why do I need a survey?
Before you commit to buying, a survey can help you:
- Find out the true condition of the property
- Manage your financial risk
- Reassure you are doing the right thing
We can provide a wide range of property surveys tailored to your specific needs. We will advise on the level of survey required, depending on the situation.
Which valuation or survey do I need?
Why not contact us to discuss your requirements? We will provide a quotation for all our valuation and surveying services:
We are able to undertake valuations of residential, commercial, land and agricultural properties for all purposes, including:
- Probate and Inheritance Tax
- Development and Land Appraisals
- Charities – disposal and purchase reports
- Matrimonial and litigation
Valuation & survey peace of mind
All valuation reports are carried out by RICS qualified Surveyors, who will provide reports tailored to your specific needs, prepared in accordance with the current RICS Professional Standards.
Alasdair Morrison Chartered Surveyors only employ RICS qualified surveyors who are also members of the RICS Valuer Registration Scheme.