The Correct Procedure of Getting Right Value for any Property!
February 22, 2016
Leslie D. Varner (33 articles)

The Correct Procedure of Getting Right Value for any Property!

Buying or selling homes is one is the most common phenomenon in real estate sector of any city. Unlike some other cities of the world, real estate sector of London is a very open, feasible and flexible market. Hundred thousands of transactions take place on daily basis in real estate sector of the city. Whether you are a novice or seasoned property dealer, London real estate market has lot to offer. Buying and selling homes is a very common and regular activity in real estate market of the city.

In this article we will mainly discuss how to get right evaluation of any home as per RICS home surveys UK. RICS or Royal Institute of Chartered Surveyors is one of the most prestigious and reliable organisation popularly known for their home surveys report. According to experts at RICS there are many methods by which the right evaluation of any home for buying or selling can be done.

Home buyers surveys London and many other such organisations show complete faith on survey done by experts at RICS. If you happen to do any property deal in UK then taking advice and help from RICS can prove to be a fruitful decision for you. Investment in good house or property at right time can bear sweet fruits in future.

Some of the prominent methods used at RICS have been discussed below:

Comparable Method also known as Comp method:

Many property dealers opt for this Comparable or Comp method of property evaluation. It is one of the most common methods used in property deals. This method is mainly based on evaluation of a particular house by comparing it with similar deals in the same location. Only limitation with this method is that it can be done only in the areas where regular deals and transactions take place.

Yield or Income method:

This kind of home survey is preferred by those who want to buy homes for investment purpose rather than living purpose. Their main interest is in the amount of profit and income that can be generated after investment in a particular house. They will look at the overall appreciation in the value of asset and shock bearing capacity of the property. Such surveys help us to know how the property will behave in case of fluctuation in real estate sector of the town or the country.

Combination method:

It is an obvious fact that one cannot remain dependant on a particular type of survey and person has to use combination of various tools to get right evaluation for the property. Any professional surveyor who has good amount of experience in this field will use right combination of various tools in order to know the right value of the house in question. Their survey will depend upon number of factors like, locality in which the house is situated, current mood of the market, general rate in the locality, condition of the property and the house.

Leslie D. Varner

Leslie D. Varner