WHAT TO EXPECT ON YOUR VALUATION Some agents may take less time than others when valuing your home, but at Honeywell here is what you can expect. Quite often our Director Chris Driver will come to meet you personally at your property at a time that suits your needs. Chris has over 20 years’ experience valuing property in the area. Our other valuers are also highly experienced in the local property market. Appointments at your home will typically take an hour, which will include a full inspection of your house, bungalow or flat. During this time we will discuss your own needs, the current market situation and similar properties within the area. This will help us to advise you on its potential value, anything you can do that will enhance its saleability and what we recommend as a marketing strategy that will help sell your home. Things to watch out for on a valuation: 1. Does the estate agent appear to have done their homework? They should know what other properties are currently in competition with your home and what properties in the area have recently achieved once sold. 2. Is the price recommended by the estate agent backed up by evidence? Unfortunately, some estate agents will quote an inflated asking price to impress you and win the instruction. But even if you actually manage to sell your home for that inflated price, you also have to prove to a mortgage lender that your property is actually worth that price or your home is in danger of being downvalued. If your property is downvalued, your buyer could lose the financing for the full purchase price, forcing you to either find a new buyer or negotiate a lower sale price. Both situations mean that you will have to adjust your own budget for your onward move. It’s best to have an agent who can provide you with evidence of how your property should be priced at the outset as they can then use those same “comparable” properties to back up the sale price when the mortgage lender has the property valued as part of the mortgage valuation. Choosing an agent based on the highest unsubstantiated valuation or lowest fee is not usually the best criteria. 3. How does the estate agent make you feel? It may sound a bit fluffy, but did you feel comfortable with the agent? Did they allow you to ask all your questions? Did they seem to listen to you and understand your priorities? When it comes right down to it, if an estate agent does not seem to understand what is important to you, perhaps they are not the right agent for you. honeywell.co.uk 6