Valuing Your Property
1. Getting the information we need to arrange your valuation
Finding out accurately how much your property is worth is always critical, but especially in tougher markets, helping you move more quickly when you see the property you want to buy and avoiding any disappointment.
When you arrange to have a valuation with Millerson Estate Agents, there are a number of steps we’ll take you through before coming to see you and your property. Naturally, we want to make sure that we have all the correct contact details for you and the address of the property that you’d like valued.
We’ll also ask you for details about the property itself, for example the number of bedrooms, how large the garden is, how old it is and how long you’ve been there. We’ll ask when you’re looking to sell and whether you’ve found somewhere to move to. All these questions help us to do our homework before coming to see you, so we can value your home more accurately.
And assuming you’re moving within the area, we can make sure you’re kept up to date with any local properties coming onto the market in your price bracket, so you don’t miss anything.
2. Arranging your Valuation at a mutually convenient time
Once all the relevant information is in place, we’ll arrange a mutually convenient day and time for one of our valuers, to come and see your property.
If the property is unoccupied you may want to arrange for us to have a key for gaining access, or if you’d rather be there personally but can’t, you could send a representative on your behalf. We would then contact you after the visit to discuss the property and value.
You’ll receive a letter confirming the appointment, It’s a useful aide-memoire for you and reassures you about who will be coming, so you can feel comfortable opening the door to us.
You’ll need to allow about 1 hour for the valuation, depending on the size of the property, which ensures you’re given the time to ask any questions. We’re always very thorough at this appointment and try to give you all the information you need to make a decision.
3. We’ll do our research before your valuation
Prior to the appointment, we’ll do as much research as possible to give you the most accurate valuation. We’ll look at what similar houses to yours have sold for and what else is on the market locally. We can also use house price indices from Land Registry and our own index to work out a current value, based on what you paid for it. Our own indexing is carried out on a quarterly basis by Robin King himself, using his own experience of the local market and his recording of local price fluctuations.
Having a valuation that you can trust not only guarantees you the best price for current market conditions, it also means that when your house is surveyed as part of your buyer's mortgage process, you can be reassured it's unlikely your property will be "down-valued" by the surveyor. This outcome will at best, cause your buyer to re-negotiate a lower price with you and at worst, can cause the entire purchase to fall through, causing you unnecessary cost in time and money, not to mention the stress.
4. The Valuation Itself
When we visit your property, we’d like you to give us the guided tour, and point out any relevant aspects of the property, such as any work you may have had done, or anything that you think is important to mention.
Clearly you’ll want your home sold for the best possible price and with the least amount of stress! So we’ll demonstrate how Millerson will look after your sale, both in terms of finding a good buyer, as well as what you can expect from us in terms of customer service. We’ll also listen to your requirements for a property to buy, your motivations for moving and we’ll discuss how much it will cost you to move, so that you can plan ahead properly.
Once we understand what you are hoping to achieve from your move, we can tailor the marketing and pricing strategies to suit you best. More often than not, we’ll give you our suggestions there and then; usually we give a range of prices that we expect to achieve, along with a recommended asking price.
This is the point at which, if appropriate, we’ll suggest that you speak to a professional advisor to guide you through the mortgage market and advise you on the best deals out there.
5. We'll Confirm the Value within 48 hours
If, having visited your property, we feel the need to do further research, for example if you have an unusual or very individual property, we’ll make a second appointment with you. We’ll then give you our considered opinion of the value. You want the valuation to be as accurate as possible, that's why we need to go that extra mile.
After the appointment we’ll write to you within 48 hours to confirm the valuation figure and any other topics that we might have discussed at our meeting. Then one of our team will call you over the next few days to answer any further questions you may have and give you an indication of the level of interest we already have in properties like yours.