Knowing your house’s value is interesting whether you’re considering selling it or not.
Luckily, it is possible to get a house valuation without selling. You just need to know who to contact and how to frame it.
For more guidance on this, keep reading.
1. Speak to estate agents
Most of us know that estate agents provide free valuations to potential customers.
This is because they take a commission from the selling price of your property when it sells.
It might also cause them to overinflate its value. This is to tempt you to sell with them.
You could capitalise on this free valuation from an estate agent, even if you aren’t selling right now.
Indicate that you might be a future customer and that the valuation is designed to assess your options. Many companies will be willing to provide a free valuation based on this.
Speak to several organisations if you struggle to find a willing estate agent straight away.
2. Get an online valuation
Online valuations are increasingly popular. Plenty of online estate agents will value your property without visiting it in person.
These organisations can use an algorithm to examine thousands of data points relating to:
- Property postcode
- Property type
- Current property market conditions.
It could also utilise data from platforms such as Rightmove, Yopa, and Zoopla.
The online valuation may be provided as a range between two tight figures rather than a precise number. It depends on the company you use.
3. Pay an independent RICS surveyor
You can pay for a valuation to be completed without selling the property.
An independent RICS surveyor is perhaps the best professional to do this.
You are more likely to get an accurate opinion from an independent surveyor.
They are non-biased and don’t have any ‘skin in the game’. Their job is to survey houses, not to sell them.
How much do RICs surveys cost?
Depending on the professional you use, it may cost between £250 to £500.
4. Look at asking prices in your area
You can often take matters into your own hands. It is possible to estimate the value of your property without speaking to any external experts.
Current market conditions can significantly impact your house’s value.
You could consider looking at asking prices in your area for similar properties.
Pay attention to:
- The number of bedrooms
- The number of bathrooms
- The square footage
- Parking options
- Proximity to amenities such as schools and train stations.
These asking prices indicate what estate agents think a house of your type is worth in the current market.
Gather data from several similar properties to calculate an average.
Remember that even though homeowners ask for these figures, they might not achieve them.
In other words, the final selling price may be lower. Factor this into your calculations.
5. Research sold prices nearby
As mentioned above, there is a difference between an asking price and a selling price. You should research recent selling prices in your area.
You can do this using platforms such as Zoopla and Yopa.
Create a search in your postcode and then see what similar properties have sold for in the past couple of years.
If market conditions have changed significantly since the sale you’re reviewing, consider this in your estimations.
You could also speak to neighbours who recently bought or sold in the area. They might be willing to discuss specifics if you are friendly with them.
6. Remortgage or probate
There are other instances when you need a valuation without selling the property. Remortgaging or probate are two common examples.
You’ll need to complete it in these cases as it is often a legal requirement.
Your bank might send someone around to value your house.
You will often pay for this. The figure the valuer decides can then inform inheritance tax you have to pay or remortgage deals you receive.
Usually, these valuations are done by a RICS surveyor.
7. Cash buying companies
Most reliable cash buying companies will value your house free of charge. You then have absolutely zero obligation to sell with them.
Check the small print of the organisation’s terms to ensure this is the case.
The valuation you receive will be below the market rate. This is because cash buyers offer slightly less, in return for you selling in any condition. Your sale can also occur within just days or weeks.
Contact a cash buying company and ask for a valuation. This indicates what they would buy it for fast.
How Sold can help
Cash house buyers allow for a much quicker sale and allow the seller to move on with their property plans fast.
Selling a house online to a cash house buyer can see the whole process completed in as little as 7 days.
If you are looking for a quick house sale then speak to the experts at SOLD.CO.UK.
We sell houses faster than any other online estate agent and take no fees or commission to get you moving.
