What to expect in a property valuation

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A valuation determines the fair market value of a property and helps buyers, sellers, and lenders ensure a realistic price.

Who conducts the valuation?

  • The valuation in a home report is prepared by a chartered surveyor
  • Mortgage lenders may carry out their own independent valuation if necessary

What it includes

  • Comparable recent sales in the area
  • Condition of the property
  • Property size, layout, and features
  • Location desirability and local amenities

When valuations matter

  • To set your offer appropriately
  • To secure mortgage approval, lenders typically won’t lend more than the valuation
  • When challenging an offer or renegotiating post-survey

What if it’s undervalued?

  • Your lender may reduce the mortgage amount
  • You can renegotiate with the seller or make up the shortfall yourself

Survey costs and who pays

Understanding who pays for what and when is important for managing your budget.

What’s covered in the home report (seller pays)

In Scotland, the seller must provide a home report before listing the property. It includes:

  • The Single Survey
  • Energy Report (EPC)
  • Property Questionnaire

What the buyer may pay for

  • Mortgage valuation: Often covered by the lender, but sometimes passed to the buyer as a fee.
  • Additional surveys: If you want a more detailed home buyer’s report or building survey, you’ll need to pay for it.

Are surveys worth it?

Yes, especially for older properties. Identifying hidden issues early can save you thousands in future repairs or give you grounds to negotiate the price.