Property valuation, cost?

[BBR]

I'm selling off part of my garden and need to get a valuation of our property for the value after the garden has been sold. Anyone any idea how much RICS surveyors charge for a property valuation?

 

[DorsetDude]

Would an estate agent or two not do it for free?

 

[BBR]

Would an estate agent or two not do it for free?

Yep, but lender wants one from RICs surveyor.

 

[Cartus]

I would phone around and get a few quotes.

 

[BBR]

I would phone around and get a few quotes.

Which is what I have done, still waiting to hear and a 'recent experience' benchmark would be useful. They must all be busy because no one is rushing back with quotes.

 

[rjbell]

Yep, but lender wants one from RICs surveyor.

Can't they send there own?

 

[Gremlin]

I assume you have a mortgage on your property and they want to know the value is still within the mortgage value once the land is sold ?
In which case it should just be a straight valuation survey and normally around £500, if they are asking for more in depth stuff then you might
need a second mortgage !

 

[BBR]

I assume you have a mortgage on your property and they want to know the value is still within the mortgage value once the land is sold ?
In which case it should just be a straight valuation survey and normally around £500, if they are asking for more in depth stuff then you might
need a second mortgage !

Thanks. Yes only a valuation. I had it in my mind that they charged a % of value.

 

[JonathanRyan]

Thanks. Yes only a valuation. I had it in my mind that they charged a % of value.

Yeah, for some odd reason they often do. I had a private valuation done several years ago and IIRC it was about 30% less than a mortgage company valuation. My figures are way out of date but most lenders publish valuation fees. It certainly shouldn't be any more than those.

For example... http://www.leedsbuildingsociety.co.uk/intermediaries/charges-and-valuation-fees/

 

[BBR]

Yeah, for some odd reason they often do. I had a private valuation done several years ago and IIRC it was about 30% less than a mortgage company valuation. My figures are way out of date but most lenders publish valuation fees. It certainly shouldn't be any more than those.

For example... http://www.leedsbuildingsociety.co.uk/intermediaries/charges-and-valuation-fees/

Thanks for the link. Not far out, £600 I have been quoted.

 

[JonathanRyan]

Thanks for the link. Not far out, £600 I have been quoted.

Tell them you want to pay £500