Understanding a property valuation

Thinking of selling a residential property in Scotland? The first step is to understand your property’s market value. An accurate property valuation is crucial for setting a competitive asking price and ensuring a smooth sale.

Why a property valuation matters

A property valuation provides a researched estimate of your property’s worth in current market conditions. This helps you set a realistic price, attracting potential buyers and maximising your return.

How to get your property valued

Most people invite a local expert solicitor estate agent to value their property. Larger firms often have professional valuers or surveyors who will conduct thorough research and visit your property for an accurate appraisal.

Some estate agents offer a ‘desktop’ valuation based on your description. While convenient, this method is less accurate than an in-person valuation.

Preparing for a valuation appointment

To get the most from your valuation appointment, prepare your home by doing a thorough clean, including the exterior. Make a note of any questions about the selling process and highlight any improvements or alterations you’ve made to the property. This information will help the valuer provide a precise estimate.

How is a house valuation calculated?

Valuations are typically based on the sale prices of similar properties in your area. For unique or remote properties, valuers consider local market conditions, amenities, and historical sales data. The appointment will usually take just less than an hour.

Choosing the right agent

It’s wise to get valuations from multiple agents. While a high valuation is appealing, ensure it’s backed by solid research and comparable sales data. Beware of agents who overvalue just to win your business.

The role of the Home Report

In Scotland, the Home Report significantly impacts the selling price. Buyers use it for mortgage valuations, and their borrowing is based on this report. Discuss the Home Report process with your valuer to get an estimate of its valuation.

Arranging a property valuation

Ready to start? Discover the true value of your property with no obligation. Schedule your free valuation with a TSPC solicitor estate agent today.