What happens at a home valuation?

Topics

Home valuation appointment

Key Takeaways

  • A valuer assesses your home’s size, layout, features, and condition to estimate its market value.
  • Preparation tips include decluttering, documenting upgrades, and improving kerb appeal.
  • Key factors include location, property condition, and comparable local sales.
  • Valuations typically last 30–60 minutes.
  • It’s smart to compare valuations from multiple agents—but focus on data-backed estimates.

 

If you’re thinking about selling your home, one of the most important steps is arranging a home valuation. This process gives you a clear understanding of how much your property is worth in the current market.

A professional valuation can help you set a realistic asking price, avoid overpricing or underpricing, and attract serious buyers. It also provides insight into how your property compares to similar homes in your area. Whether you’re selling for the first time or are a seasoned seller, understanding what happens during a home valuation is key to making the most of the process and ensuring a successful sale.

What is a home valuation appointment?

A home valuation involves a professional valuer visiting your property to assess its condition, layout, and unique features. Based on this assessment and current market trends, they provide an estimate of your property's likely selling price. While some agents offer 'desktop' valuations without a physical visit, an in-person assessment typically yields a more accurate valuation.

Preparing for the property valuation

To ensure a smooth valuation process:

  • Clean and Declutter: A tidy home allows the valuer to assess the property without distractions.
  • Enhance Curb Appeal: First impressions matter; ensure the exterior is well-presented.
  • Document Improvements: Inform the valuer of any renovations or upgrades, as these can influence the valuation.
  • Prepare Questions: List any queries about the selling process to discuss during the appointment.

How is a home valuation calculated?

Valuers consider several factors when determining your property's value:

  • Location: Proximity to amenities, schools, and transport links.
  • Property Size and Layout: Square footage and functional design.
  • Condition: Overall state of repair and any necessary improvements.
  • Market Trends: Recent sale prices of comparable properties in the area.

This comprehensive analysis ensures the valuation reflects current market conditions.

What questions should I ask during a property valuation?

When meeting with the valuer, there are several questions you may want to ask to gain a better understanding of their firm, their approach to work, and how they will handle the marketing of your property.

  1. What are your selling fees and other costs associated with marketing my property? It's essential to have a clear understanding of the financial implications involved in selling your property through their services.
  2. How is your selling fee structured? Is it a percentage of the final sale price or a fixed amount? Different solicitor estate agents may have varying fee structures.
  3. When will these fees be charged? Some firms may require partial payment upfront before the property goes on the market, with the remaining fee payable upon successful sale. Clarify the payment schedule to avoid any surprises.
  4. How will you market my property? Enquire about their marketing strategies and how they plan to attract potential buyers.
  5. Can you share some examples of recent sales in the area? Knowing about their recent successes will give you insight into their expertise in the local market.

By asking these questions, you can make an informed decision when choosing a solicitor estate agent to market your property and ensure a smoother selling process.

How long does a home valuation take?

A typical valuation appointment lasts between 30 minutes to an hour, depending on the property's size and complexity. This timeframe allows the valuer to conduct a thorough assessment and address any questions you may have.

Choosing the right agent

It's advisable to obtain valuations from multiple local estate agents. While it might be tempting to select the agent offering the highest valuation, ensure their estimate is supported by market data and comparable sales. An inflated valuation can lead to prolonged time on the market. Consider the agent's experience, marketing strategy, and fees when making your decision.

Understanding the Home Report

In Scotland, sellers are legally required to provide a Home Report, which includes:

  • Single Survey: Details the property's condition and market valuation.
  • Energy Performance Certificate (EPC): Rates the property's energy efficiency.
  • Property Questionnaire: Offers additional information from the seller.

The Home Report significantly influences the selling price, as buyers often base their offers on its valuation. Discuss the Home Report process with your chosen agent to understand its implications fully.

Arranging a home valuation

To initiate the selling process, contact local estate agents to schedule a valuation. Many offer free, no-obligation valuations and can guide you through the subsequent steps, including preparing the Home Report and marketing your property. If you're looking for professional advice and support, ESPC can provide expert guidance and help you navigate the selling process with confidence.