Residential Valuations and Surveys

John Taylors provide three types of report for residential properties: Residential Report and Valuations, Mortgage Valuations and RICS Homebuyer Surveys and Valuations.

Residential Report & Valuation
A Residential Report and Valuation gives a market value of the property on a defined basis. This type of valuation would be carried out for the purposes of:

• Sale or Purchase
• Transfer of Ownership
• Divorce Proceedings
• Insurance Cover
• Probate or Taxation
• Compulsory Purchase

The report and valuation has to be carried out in accordance with The RICS Appraisal & Valuations Standards (The Red Book). A written quotation and Guidance Notes on the definition of the valuation and content of the report will be supplied to you so you can fully understand the service before you agree to the valuation being carried out.

Please note that this type of valuation is not a survey, if you are looking for a survey please refer to the RICS Homebuyer Survey and Valuation.

Mortgage Valuation
A mortgage valuation is organised through your mortgage lender and answers the questions they require concerning the security of your loan. It will not necessarily answer any personal concerns you may have about the condition of the property. John Taylors carry out mortgage valuations for a number of mortgage lenders.

RICS Homebuyer Report
The new Homebuyer Report was launched in April 2009 and superseded its predecessor, The Homebuyer Survey and Valuation, in January 2010. The Homebuyer service includes an inspection, a report and a valuation and is known within the profession as a level two product. It is most suitable for houses, bungalows and flats that are of a conventional type and construction. This would generally include properties that:-

• are of Victorian to present day construction;
• have load bearing structures or simple frames;
• use conventional building materials and construction methods;
• have service systems commonly used in domestic residential dwellings.

The report is a standard format and is more detailed than a mortgage valuation (known as a level one product) but shorter and less detailed than a Building Survey (formerly called a Full Structural Survey and known as a level three product). It identifies what the Surveyor considers to be the most important issues, stating whether the defects are serious or urgent. It also includes an opinion of the market value and for building insurance a reinstatement cost.

Full details of the content of the report and the basis of valuation along with a quotation are supplied and agreed prior to the inspection taking place.

Request a Quote or Further Information
Find out more information on any of the services that we offer or obtain a quote for valuation or survey.