AJA Staircasing/Right to Buy valuation service provides you with an independent market valuation appraisal of your Shared ownership home for the purpose of buying some or all of the remaining shares.
We meet your Registered Landlords criteria, namely:
Registered Valuers with recognised qualification of RICS
Our market valuation reports include at least 3 comparable properties with analysis and justification where possible
Valuation reports are issued following full external and internal inspections of your home
Valuation reports are provided for non-lending purposes
The valuation report is valid for 3 months; the validity of the valuation is shown on the report
The number of years remaining on the lease will have an influence on opinion of value
In addition because the valuation report is prepared for Staircasing/Right to Buy purposes it will include the following information:
Exclude any significant improvements made regarding Staircasing value.
The open market valuation will include any improvements made.
Local knowledge is imperative when implementing this type of valuation method and it a mandatory requirement of the Royal Institute of Chartered Surveyors (RICS).
Valuation Comparables Approach: The buildings material elements should be similar to that of the subject property; within constraints of available market evidence and geographical location.
Valuation Analysis: Following retrieval of appropriate comparable evidence, analysis should be made. This involves making adjustments in sales figures achieved to capture the differences between comparable and the subject property; those differences are reflected on a percentage basis in comparison to the subject.
Application of these valuation methods can become complex however a Valuer’s appraisal has to take in to consideration a broad range of macro-economic and local-geographic factors to name but a few, to be deemed accurate and trustworthy. It is for these reasons that lending institutions and stakeholders only rely on professionals namely Chartered Surveyors for their opinions of property market value’s.
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