If you enrolled in a shared ownership scheme with a Housing Association and you wish to sell or increase the share of ownership in the property, then you will need to instruct the services of a RICS Registered Valuer to independently value the property. We are on the Panel for many Housing Associations including Metropolitan Thames Valley, Vivid Homes, Southern Housing Group and others; we are are therefore experts in the field and our reports are compliant.
It is often stipulated that a RICS Registered valuer must complete the valuation of a shared ownership property in order that it is accepted by the other parities in the contract. As the seller, or party wanting to increase your share, you are responsible for the cost of this valuation. RICS, The Royal Institution of Chartered Surveyors is the professional body that regulates the property and construction industry.
Validity of valuations
Valuations are usually deemed valid for 3 months so you should ensure you’re in a position to move forward with a sale or proceedings within that time frame or you will have to pay for a desktop valuation (reduced fee and without a re-visit) if the same surveyor is available to undertake this, and if there have been no significant changes to the property. You can also request a desktop valuation prior to this date if there have been changes to your property, the surroundings or market conditions.
In summary, the valuation you receive prior to selling your property or extending your ownership needs to be conducted by a qualified Chartered Surveyor and RICS registered valuer with experience of the local property market to be sure it meets the requirements of all parties in the agreement.
Bartley West Limited have been specialist residential valuers across the South since 2012 and all valuations are undertaken only by a fully qualified MRICS RICS Registered Valuer with the knowledge and expertise needed .