When do I need a Right To Buy valuation?
Council and housing association tenants who meet certain criteria are eligble for the Right To Buy scheme and have the option to buy their home and to get a discount on the purchase price. When you apply to your landlord under Right to Buy, they will send you an offer letter containing their valuation of the property. The letter will usually also include an overview of the property condition and any structural defects.
A Right to Buy valuation from an independent RICS Registered Valuer allows you to check if the landlord’s valuation is fair and accurate. The report can be used to challenge your landlord’s offer if the property has been over-valued. A Right to Buy valuation also contains a brief overview of any major property defects which enables you to check that the landlord’s valuation has been based on a correct understanding of the condition of the property.
However, it is important to remember that a Right to Buy Valuation only includes a brief overview of property condition. If you want more detail on the condition and structure of the property, including more detail on the maintenance and repairs that you will be responsible for after purchase, you may wish to consider commissioning a RICS Level 2 or Level 3 condition survey along with the valuation.
Please Contact Me for a fast, free, no-obligation Right To Buy valuation quotation.
Fast and reliable Right To Buy Valuations
As a RICS Registered Valuer, and an expert on the Norfolk property market, I am able to provide timely and accurate Right To Buy valuations.
The valuation inspection typically takes around 2 hours and valuation reports are issued no later than 3 working days after the inspection.
The cost of a Right To Buy valuation depends on the type, size and condition of the property but is typically between £289 and £399 (no VAT to pay).
If you have other questions about the Right To Buy valuation process, please visit my FAQs.
Alternatively, please feel free give me a call and I’ll be happy to talk through any questions you may have.
