Under the terms of your lease, a RICS certified valuation must be carried out to value your property. The sale price is based on the figure contained within the valuation report and cannot be negotiated.
Your valuation is valid for 6 months, and so you should instruct the valuation when you are ready to market the property. Note, this should also include reading our lease length advice.
- You need a written valuation report from an independent RICS surveyor. RICS is the Royal Institution of Chartered Surveyors
- Your valuation is valid for three months, or six months if we find you a buyer within three months
- You pay your appointed surveyor directly and they send the report to you and us
- We accept a desktop valuation which is valid for 3 months if the main RICS has expired after 6 months
To start the process see our list of recommended shared ownership surveyors, or get in touch directly to make an appointment.
If you choose an independent RICS surveyor not on our panel, you will need contact them directly. Please ask your surveyor to include: a full valuation report, and a sales description including measurements. You will need to ensure the following guidelines are adhered to when instructing your valuation:
- The Surveyor valuer must be RICS accredited
- The Surveyor valuer must be independent of an estate agent
- If your property is a flat, the valuation report should be based on the open market value of the current leasehold interest of your property and should include the current unexpired lease term
- If your property is a house, the valuation report should be based on the open market value of the leasehold interest and include the unexpired lease term. The freehold value must also be included
- The Surveyor valuer should provide at least three comparable properties and sale prices from within the last six months
- The Surveyor valuer must not be related or known to you
- The Surveyor valuer must inspect the interior of the property and provide a full valuation report
- Valuations carried out for bank or mortgage purposes only are not accepted
- Metropolitan Thames Valley will require a copy of the valuation report; the date and duration of validity must be noted on the report
Note, although some surveyors also offer to provide marketing photos we will arrange property photos for you so please advise the surveyor of this when you contact them.
How do I send my valuation to you?
If you use a surveyor from our panel they will send the documents to us. If not you should email it as an attachment to your dedicated consultant.
We will then let you know once it has been approved and you are ready to move to the next step.