Other Valuations

Shared ownership

Shared ownership definitely works for some people by enabling them to progress onto and up the housing ladder. But there can be disadvantages and you should properly research the pros and cons before proceeding. You should commission a valuation from an RICS Surveyor or an RICS Homebuyer report when purchasing an initial share to obtain an independent valuation and know what if any defects there are, which you can get costed before committing to proceed. Few though do this perhaps partly because most of the houses or flats are modern. I would though say that particularly on new build sites where, developers are selling a share, there is a greater risk that you will pay too much for your initial share, unless you seek such professional advice. The next occasion where you may need a valuation is when staircasing ie where you buy a larger share of your property or where you decide to sell your share of the property.

The valuation will be done by an RICS Regulated Valuer as an estate agent's valuation is unlikely to be acceptable. Valuations will be done using the comparable method of valuation taking account of relevant recently published RICS guidance.

Please see my video about Shared Ownership Valuations at https://www.youtube.com/watch?v=yBfW7Vi5-IY

Taxation

The following taxes affect property: Capital Gains Tax, Corporation Tax, Income Tax, Inheritance Tax Probate, Stamp Duty and VAT. Your Property Adviser should have a thorough understanding of how they may affect your Property. Such expertise is best utilized strategically when planning to anticipate scenarios and to minimize incidence to the legal minimum. bValued can provide valuation advice for taxation purposes, negotiate as necessary or appear in Tribunal as expert witness. 

Arthur also does Capital Allowances Act 2001 s 562 valuations for properties, used as holiday homes.

Insurance/ Reinstatement Valuations

Apart from your family and employees your property is likely to be your most valuable asset and should be adequately insured against loss. bValued can advise on required cover and calculate the rebuilding costs of your home for insurance purposes. This tells you what it would cost to rebuild your home if it were to be damaged or destroyed, including the cost of demolition and clearing the site plus professional and local authority fees. You may also need to allow for inflation in construction costs. You should make sure your insurance provides cover for disturbance and relocation costs, should your home become unusable and meets the requirements of any lease.

Matrimonial Purposes

Valuations may also be required where there has been a breakdown of matrimonial relationships.