Shared Ownership Valuations
Expert RICS Valuations for Shared Equity Properties
If you're part of a shared ownership scheme and need a valuation, our team of independent RICS surveyors is here to help. We understand the importance of accurate valuations for shared equity properties, also known as Shared Ownership valuations. Our services benefit homeowners and Housing Associations by determining the property's market value and calculating the worth of each percentage share.
Understanding Shared Ownership Valuations
Regarding shared ownership schemes, Housing Associations have specific rules governing the valuation process. If you're considering selling your share or the Housing Association has the option to purchase it, an independent RICS surveyor must conduct the valuation. This assessment aims to establish the property's 100% market value, which is then used to determine the value of each percentage share for both the homeowner and the Housing Association.
Compliance with Housing Association Requirements
At Huntley and Partners, we're well-versed in the unique rules and regulations set by Housing Associations for shared equity valuations. We consider any specific requirements outlined by the Housing Association, such as disregarding property improvements made since acquisition or providing detailed comparable evidence in the valuation report. Our goal is to ensure that our valuations align with the guidelines and meet the requirements of Housing Associations, providing you with accurate and reliable results.
Valuations for Any Housing Association
We proudly offer shared ownership valuations for a wide range of UK housing Associations. Whether you're associated with Aster, Abri, Livewest, Sovereign, Cornerstone, Affinity Sutton, Westward Housing, Sanctuary Housing, Guinness Partnership, Wandle, Clarion, Stonewater, Merlin, Inclusion, Hammersmith & Fulham, Radian, or any other Housing Association, we are ready to undertake RICS valuations for you.
The Valuation Process
To ensure a precise valuation, it's important to provide our surveyors with specific details about your lease, including the remaining lease length and any associated charges such as ground rent, service charge, building maintenance, and insurance. Our surveyors meticulously compile comparable evidence based on properties with similar characteristics, including style, layout, accommodation, age, and recent sales data from the past 12 months. We work closely with you to understand the specific requirements before conducting the inspection.
The shared ownership valuation report will be provided in PDF format, often directed towards the Housing Association. It's crucial to inform our surveyors of this beforehand to prevent any potential rejection of the report at a later stage. Once you receive the shared equity valuation, you must submit it to the Housing Association along with any required documentation.
If you would like to know more about our Shared Ownership valuation services, please contact us about this via our form below:
Navigating the Process
Upon agreeing on the valuation, it's essential to confirm the specific process regarding buyback or marketing as determined by the Housing Association. In cases where the property remains unsold during the required marketing period, you may have the opportunity to market the property independently. At Huntley and Partners, we offer guidance and support throughout the process, ensuring you have expert advice at every step.