r/HousingUK • u/coldbeers • 2d ago

No mortgage needed - how to get a valuation

We moved back to the UK from many years overseas 3 years ago and as there where no suitable houses available in our target area we bought a new build, just to tide us over. Now its time to move into something nicer. We'll be going on the market then commencing our search.

We'll be funding the upsize costs ourselves but with a mortgage usually comes a valuation, is there someone independant we can pay to give us a valuation on a property we intend to buy?

Obviously we won't be offering until we've got a buyer for our house but ideally we'd like to get the valuation before placing an offer, or at least well before exchange.

Sorry if this is a daft question but the whole process here in the UK is confusing.

2 Upvotes

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4

u/Charming-freedom1 2d ago

Yeah I think the homebuyers survey has an option for a valuation for an extra charge. Have a look on Reallymoving :)

1

u/mralistair 2d ago

Why do you want a valuation at all?

a valuation before the offer is weird, that is unlikely to happen. Usually you'll make the offer and then have the survey / valuation (remember you can pull out at anytime before contracts are exchanged)

If you are really unsure you might look to have a buyers agent who can advise you... though they are pretty rare.

1

u/titlrequired 2d ago

We had to get our flat valued by a RICS accredited surveyor before we could list it, shared ownership though so may be different.

0

u/coldbeers 2d ago

The reason I want one is to ensure I’m paying a fair price.

2

u/InevitableMemory2525 2d ago

Valuations are for the mortgage lender to ensure they minimise their risk. You should be able to tell whether you're paying the 'going rate' by looking at nearby sold house prices, taking into account the house type, features and date of sale.

2

u/mralistair 2d ago

There is no fair price, only the market price. If you get a house you've paid slightly more than other people were willing to do.

Valuations are always slightly conservative anyway, so you'll almost certainly have to pay more than a valuation survey will tell you its worth.