What are Right to Buy valuations?
Council and housing association tenants meeting certain criteria have the Right to Buy their home and to get a Right to Buy discount on the purchase price. When you apply to your landlord for Right to Buy, they will send you an offer letter containing their valuation of the property. The letter will also include an overview of the property condition and any structural defects.
A Right to Buy valuation from an independent RICS Registered Valuer allows you to check if the landlord’s valuation is fair and accurate. As independent, RICS surveyors, our reports can be used to challenge your landlord’s offer if that is necessary. You can also use the report as evidence if you appeal to the District Valuer. A Right to Buy valuation also contains a brief overview of the property’s general condition, so that you may be able to contest any incorrect claims about the property condition.
It is important to remember that a Right to Buy Valuation only includes a brief overview of the property condition. If you want more detail on the condition and structure of the property, including the cost of any maintenance and repairs that you will be responsible for after purchase, you may wish to consider having a full building survey.
Allcott Associates Right to Buy Valuations
– We are RICS Certified Surveyors and Valuers
– Valuations are carried out in accordance with RICS Valuation Standards (Red Book)
– We are totally independent from an estate agency
– Our report will be on headed paper and signed by a member of the RICS
– We will provide at least three comparable sales
– We carry out a full conflict of interest check upon inspection to ensure no conflicts exist
– We will inspect the interior and exterior of the building and provide a full report
– The inspection date will be shown on the report
What does a Right to Buy Valuation include?
– Inspection of the property by a surveyor local to the area
– Overview of the property, its construction, locations and accommodation
– Overview of the property’s general condition, with photographs
– Sale prices of comparable properties
– Valuation of the property, with a description of the evidence and assumptions used
Professional Surveyors, Quality Service | RICS Certified Surveyors
Allcott Associates LLP employ both Building Surveyors and Structural Engineers and all our Chartered Building Surveyors are members of the Royal Institution of Chartered Surveyors (RICS). This ensures our Building Survey Reports are comprehensive and will never need referring back to a Building Surveyor or Structural Engineer for further investigation at a further cost unless in the unlikely event that opening up of areas is required. Unlike other firms, we are completely independent and our reports are accepted by all financial institutions and insurance companies.
