Valuations in Folkestone
Residential and commercial Valuations
We have teamed up with local valuation experts Motis Estates to bring you unbeatable value for money when choosing a valuation service.
Professional RICS Valuation Services
We can provide valuation services to solicitors, accountants, recovery specialists, tax and other professionals, public and private businesses and private buyers and sellers.
Experienced in the provision of rental and capital valuations across all property sectors and development projects, and with links to our sales, letting, rent review and asset management teams, our RICS Registered valuer is well placed to reflect early market movements to report up-to-date and accurate values.
Most investors need help with understanding how much their property should be worth. This is because, unlike residential properties, where the home’s condition only determines the value, many more considerations determine the value of the commercial property. This is where our knowledge and expertise really comes to light with residential and commercial valuation expert Kris Foster MRICS heading up this department.
We offer the following services
- Probate valuations
- Matrimonial Valuations
- Inheritance Valuations
- Pension Fund Valuations
- Help to Buy Valuations
- Shared Ownership Valuations
- Capital Gain Valuations
- Buy to Let Valuations
- Dispute Resolution
- Help with Purchasing of Freehold (collective enfranchisement)
- Lease Extension Valuations
- Rebuild Cost Assessments
Help to Buy & Shared Ownership
- Paying off your Help to Buy loan?
- Selling your Shared Ownership property?
- Staircasing your Shared Ownership property?
- Selling your Equity Share property or property bought under Help to Buy?
- Selling your property under a Deferred Land Payment scheme?
You will need a valuation prepared by an independent Chartered Surveyor in all of these circumstances. Your estate agent cannot prepare this valuation. We can prepare this valuation for you and guarantee that we comply with all the requirements of your Housing Association, the Home and Communities Agency, HOP or other associated body.
The timing for you requiring this valuation will vary depending on circumstances and you should ensure you have the detail from the Housing Association or other body about timings when you first consider marketing the property or paying off the Help to Buy loan. If you are selling your property it is likely to be sensible to consult your estate agent before asking us to carry out the professional valuation.
Buy to let rental valuations
One of the most important decisions you will have to make when managing a buy-to-let property is determining the fair market rental value. Once you determine this calculation, it will help you decide on the rent you plan to charge your tenants.
A market rent valuation will provide a professional opinion of rental value for a property taking into consideration a number of factors, including comparing rental rates being paid for similar properties in the same area in the same condition.
Our surveyor will take into account the prevailing rental market at the date of valuation and will objectively analyse and assess the relationship between occupiers, tenants and landlords in a market in order to come to an opinion of value.
Lease Extension Valuations
Technically it is possible to do a lease extension without a specialist surveyor – you could work out a rough figure using one of the many, readily available, free to use, lease extension calculators, propose this to your freeholder and negotiate yourself.
However, most freeholders will come back with a much higher figure and the leaseholder needs to negotiate this figure down to a point that it is fair.
Is this a negotiation that you want to do yourself?
Choosing a lease extension surveyor who has experience in negotiating with other valuers is likely to ensure that you get the best price on your lease extension. It is also important that your lease extension surveyor keeps up to date with the latest developments in leasehold case law.
In addition, you do need to make sure that the figure you propose to your freeholder is reasonable, because if it isn’t they can argue that the section 42 notice you served to start your lease extension is invalid.
Freehold purchase - collective enfranchisement
Many owners of leasehold properties prefer the option of outright freehold purchase in principle because it need not cost a huge amount more than an individual lease extension, depending on how many properties in the building participate. This process involves serving a Section 13 Notice on the freeholder.
In practice, however, it is not always possible to complete the freehold purchase for a number of reasons. The most common hurdle is the legal requirement that 50% or more of the owners in a building must agree to participate in the freehold purchase, in order for them to compel the freeholder to sell. However, not all of the owners will necessarily have the money nor the inclination to undertake the process.
In addition, freehold acquisition means creating a new company to buy the freehold and in many instances it can be difficult to find owners willing to be directors of that company and run its affairs. There is considerable work, diplomacy and effort required to run a freehold company, and this is often underestimated.
Another impediment is that those participating in the transaction need to cover the cost of those not participating. In essence, if only 50% of the building were to proceed, it would be roughly twice the cost per participant compared with if 100% were to go ahead.