RICS Valuations
At Oswald Scott Surveying, we specialise in delivering precise and reliable property valuations. Each valuation is conducted by our RICS-registered valuation surveyors and strictly follows the Red Book standards set by the Royal Institution of Chartered Surveyors (RICS) to ensure an accurate representation of your property's market value.
It's important to note that a mortgage valuation primarily benefits the lender, and you might not receive a copy of the report. In contrast, a survey or private valuation is conducted for your benefit, ensuring you understand the property's true value and pay accordingly.
Oswald Scott provides independent and objective property valuations, carried out by RICS-registered valuers, that are essential for a variety of purposes and scenarios. Following a detailed inspection, we deliver a comprehensive valuation report, equipping you with the essential information needed for informed property decisions.
Market Valuations
A Pre-sale or Pre-purchase Market Valuation is a report designed to provide clients with a Market Value.
It can include Market Capital and Rental Value analysis and portfolio assessment.
Capital Gains Tax Valuations
An accurate Capital Gains Tax valuation can help reduce your tax liability and provide the necessary documentation to challenge any disputes.
This valuation is required when a property is sold or gifted and has increased in value. Capital Gains Tax is generally based on the difference between the property's purchase price and its selling price, and often, a market valuation must be submitted to HMRC.
Inheritance Tax Valuations
When someone passes away, any land and buildings they own are included in their estate for Inheritance Tax purposes.
A professional valuation ensures an accurate assessment of the property's market value as at the time of death, which is often required by HM Revenue and Customs for tax calculations.
Help to Buy Valuations
The Help to Buy scheme allows eligible buyers to co-own their home with the government.
If you used this scheme, an independent valuation is required when selling the property or repaying the government loan.
The repayment amount is based on the property's current value (as determined by an RICS Help to Buy valuation) or the agreed sale price, whichever is higher. Help to Buy valuations are valid for 3 months, in accordance with Target requirements.
Matrimonial Valuations
A Presale Market Valuation provides clients with an accurate assessment of a property's Market Value.
With the rise in divorce cases, valuations of the matrimonial home have become increasingly common, often required for divorce settlements.
At Oswald Scott, we handle such matters with the utmost sensitivity and professionalism.
Right to Buy Valuations
Council and Housing Association tenants who meet specific criteria can exercise their Right to Buy and receive a discount on the purchase price.
When you apply, your landlord will provide an offer letter, including a valuation of the subject property, an overview of its condition and any structural defects.
A Right to Buy valuation from a RICS-registered valuer helps you determine if the asking price is fair and decide if you need to appeal the District Valuer.
Shared Ownership Valuations
Shared ownership valuations are needed if you want to sell or buy more shares in your home. In this scheme, you own part of the property and pay rent on the rest.
If you increase your shares (staircasing), your mortgage payments rise while rent decreases. Once you own 100% of the property, rent payments stop.
Some housing associations may or may not consider home improvements when valuing the property, depending on the purpose of the valuation.
The Valuation Process
01. How to Submit Your Property Details
Provide full property address via the enquiry form or by phone and state the service you require.
02. Efficient Quotation Turnaround
We aim to provide a quotation within 5 hours and at minimum by the close of business the following day.
03. Terms of Engagement Process
Ensure you read and complete the Terms of Engagement, sign the form and pay the invoice in order to advance.
04. Addressing Queries Prior to the Inspection
You can record specific queries on our enquiry form or discuss them directly with the surveyor before the inspection.
05. Appointment Arrangements & Access
We will arrange property access with the vendor / selling agent and confirm the date of inspection.
06. Report Completion and Delivery
Following the inspection the report will be generated and returned to you within 3 working days.