Right to Buy Valuation
What is the Right to Buy Valuation?
When you decide to purchase your property from a housing association or local council, they can respond in one of two ways: refuse your request or make you an offer. Consulting our panel of RICS-registered valuers ca help ascertain the fairness of the offer.
The valuers can guide you in determining if your offer is close to the market value of your home. You must not lose sight of the fact that the valuation is only a snapshot of the current state of your property. If you need more detailed information about the necessary repairs, you should consult with a building surveyor. Your landlord’s offer should include several components, as detailed here:
- Market value
- Calculation and discount method
- Overview of property
- Service charge estimate
- Any defects affecting property condition
Help to Buy Property Discounts
Right to Buy Tenants can purchase their homes from councils or housing associations at a steep discount – if you have been living in a house that your council or housing association built for between 3 and 5 years, you may buy it for a price that is reduced by:
- 35% of the house value
- 50% of the flat value
Reinstatement Value of a Help to Buy Property
With the Right to Buy, your home’s value can get a staggering discount of up to 70%, a number around that can certainly lead one to think their home is pretty secure, but do you really trust that your landlord has your best interests in mind with how much they say your home is worth?
To be guaranteed a fair amount, it is strongly suggested to get a RICS Right to Buy valuation – RICS stands for the Royal Institution of Chartered Surveyors. When it comes to valuing property, they are the gold standard. Their valuations have standing not just with the courts but also with lenders.
Advantages of Having a Right to Buy Valuation
Receiving a Right to Buy valuation from a RICS registered valuer allows you to:
- Independent RICS valuation: until you have a report from an independent RICS registered valuer, you won’t know whether the market valuation your landlord is providing is right.
- Reasonable terms: if your Right to Buy valuation is fair, you have a strong basis to challenge unreasonable claims or offers.
Appeal to the district valuer: challenge your landlord’s offer with your RICS market valuation.
Getting a Right to Buy Valuation
You can obtain a Right to Buy valuation for your home for a nominal fee. The valuation is conducted by an independent valuer from the Royal Institution of Chartered Surveyors. It assesses the offer your landlord has presented to you – if the offer is too low, our team can contest it using the findings of this independent valuation.
Surveys of Commercial Property
If you’re thinking of acquiring, leasing, subletting, disposing of, or altering commercial premises in Manchester, you would be well advised to locate a surveyor skilled in the nuances of commercial building surveying – should you spot a defect in a commercial building you can use that information to negotiate an asking price for the property that’s considerably lower than what the seller originally wanted, or you can talk your way out of a bad deal altogether.
Our Manchester-based team of RICS-compliant commercial building surveyors is equipped to handle matters throughout Manchester.
Contact
Our team prioritizes client care above all else. We look forward to being in touch with you so you can instruct a surveyor in Manchester, London, Bristol, Birmingham or Cardiff. You can reach out to us easily. Just fill out our form, and we’ll get back to you with a free quote for your survey. All our surveyors are qualified as members of the Royal Institution of Chartered Surveyors (RICS) and we are one of the UK’s leading providers of building survey and valuation services:
- Accredited Professionals: Certified by organizations like RICS, CIOB, and RPSA.
- Customized Survey Reports: inspections to meet your specific requirements.
- Local Expertise: Deep understanding and specialized knowledge.
- Expert Guidance: Professional recommendations and support.
The property survey you commission will be carried out by an accredited professional. Your chartered surveyor will be a member of the Royal Institution of Chartered Surveyors (RICS) or the Chartered Institute of Building (CIOB), or will belong to some other industry-standard professional body. Rest assured; you will receive highest quality of professional service for your survey.
