Get the valuation you need!

Getting your property deal often seems like a succession of hurdles that the investor must go through including agreeing, negotiating and getting the finance. A further hurdle that is paramount to getting your deal is getting through the valuation and this is often an area where investors feel most out of control. Very few investors have attended more valuations than the new owner of Meet The Surveyor, Sonny Walia and his professional team.

Many investors may know Sonny as the founder and previous owner of Meet The Surveyor or ‘MTS”. Sonny told us that he is proud to once again have sole ownership of MTS from January 2011. Here Sonny gives his top tips to get the valuation you need.

What kind of supporting evidence do you suggest the buyer takes to support the value they feel the property is worth?

My advice is to always take along “Sold” comparables in the local area to show the Surveyor. I find that the surveyors do not usually take the “For Sale” comparables into consideration. As one surveyor said to me “A property is only worth what someone is prepared to pay for it” the true market value of a property is the price that it sold for and not what it is for sale at. Also make sure the comparables are for the same area and not 10 miles away.

What would you say are the main reasons why valuations are down valued?

The survey stage of the buying process can be a minefield. To give yourself a fighting chance make sure you do your homework and due diligence and be realistic, do not “up value” too much and certainly don’t down value too much thinking that you are being “cautious” Remember that this valuation will be on the records for the future and a low valuation may hurt you in the long run!

Also make sure the property details are taken off the internet. If the property has been up for sale in your local estate agent at all recently, the surveyor will more than likely also use this resource to get a second opinion to see if the property has been up for sale and more importantly, at what price! If the property has been valued by the estate agent for a percentage less than the Market Value being asked for then the surveyor will most certainly down value the property.

How does Meet The Surveyor work?

Meet the Surveyor or ‘MTS’ is a professional service for UK property investors who due to many reasons such as time, location, business or work restraints are not able to, or choose not to personally attend the surveyor’s visits.

We take charge of the whole valuation process taking the hassle away from the investor. We look after the vendor, tenant, estate agent, auction house, surveyor and all the other parties involved. We put the vendors mind at ease, show the surveyor around the property, collate comparables, take photos of the property and prepare a detailed report for the investor to give them the best insight of the deal. We are the eyes and ears of the investor and make sure we create an environment that gives us the best possible chance of achieving the valuation required.

For more information on how to “Meet The Surveyor” and save your deals visit www.MeetTheSurveyor.com/free and download your free eBook “7 Tips On How To Stop The Surveyor Down valuing Your Property”

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Categories: Just Do It, Landlords  |  Tags: Auction, Control, due diligence, eBook, House, investor, Meet the Surveyor, MTS, Property, property details, property investor, property investors, Sonny Walia, survey, Surveyors, UK property invest  |  1 Comment »