Valuing FAQs

We get asked all sorts of questions about house valuations so we’ve compiled them together to help you in your decision making. For any additional support, please contact us.

Online valuations
1.    How is the online valuation calculated?
2.    Is it accurate?
3.    Does it take into account my new conservatory?
4.    Will I get a more accurate figure from an estate agent?

Choosing an estate agent
1.    Which agent shall I use?
2.    Do I need an estate agent to sell my house?
3.    Should I use more than one agent?
4.    How much do they charge?
5.    How quickly can they sell my house?
6.    What happens if I don’t find a buyer?

The valuation appointment
1.    Will I have to decide there and then?
2.    What do I need to do to prepare for a valuation?
3.    What will the agent ask me?
4.    Do I need to have any documents ready?
5.    How long will it take?

After the valuation
1.    My house is worth less than I thought
2.    There is no equity in my house
3.    What is a good agency fee to pay?
4.    Can I dispute the valuation figure?
5.    I’ve received multiple valuations, but the figures were different
6.    What marketing will I get for the agency fee?
7.    How do I put my property on market?
8.    Do I need to speak to my solicitor/mortgage advisor at this stage?
9.    How much will it cost me to sell?
10.    Who do I agree terms with?
11.    Should I use multiple agents?
12.    What can I afford to buy based on this valuation?
13.    Can I go on market with a higher price?
14.    How long will it take to get the board up?
15.    When do I pay my fee?

Online valuations
1.    How is the online valuation calculated?
 The online valuation tool focuses on data retrieved from the Land Registry and from www.home.co.uk. The two sources gather data of sold and for sale properties in each region. The figure you receive is an estimate, but will provide you with a clear idea of the value of your home. You can also select which improvements you have made to the property and this will add on value to your home.


2.    Is it accurate?
It is as accurate as possible, using a combination of data from different sources to provide an indication of your property’s value. To support this valuation we do recommend that you meet with an independent accredited estate agent. They will be able to give a more accurate valuation, and explain at which price they believe your house will sell in the current market.


3.    Will it take into account my new conservatory?
The online valuation tool has an ‘Options’ function. You can use this to add any additional features to your home. From extra bathrooms to a new conservatory the online calculator will take into account any improvements when it works out your home’s value.


4.    Will I get a more accurate figure from an estate agent?
Although the online calculation does give a good idea of the value of your property, it is unable to judge the exact qualities of your house. An accredited estate agent will give a more accurate figure as they can visit your house and make an independent judgement. They will also be able to take into account the local market and any comparable properties.

Choosing an estate agent
1.    Which agent shall I use?
Most locations have at least two estate agents that cover the local area. When selecting an agent we advise that you research into their reputation and accreditation. Accredited agents are selected due to their past performance and capability.


2.    Do I need an estate agent to sell my house?
Although you do not necessarily need an estate agent to sell your house, we strongly advise it. Only a small minority would attempt to sell without professional help, due to the complex nature of the sale. There are many different things to consider, and estate agents are experts in both the valuation and negotiation stages of the sale. They will also proactively push the sale through, trying to avoid any delays or complication.


3.    Should I use more than one agent?
There are advantages both single and multi-agency agreements. With sole agency you know that one agent is focused on your sale. However, with multi-agency most people find that bid prices are driven up through increased competition and sales are progressed more efficiently.

4.    How much do they charge?

Estate agent fees differ from agent to agent. Fees range from around 1-2% of the final property sale. Please be aware that no upfront cost should be paid to the agent. Estate agents do not receive any commission should the sale fall through. It is advisable not to simply opt for the agent with the lowest fee, as you should consider what the service they provide for that cost. Agents on multi-agency terms will normally charge slightly more, as they run a greater risk of missing out on the sale, despite working on your property.


5.    How quickly can they sell my house?
The speed of the sale depends on your pricing strategy, and the demand from buyers. If there are lots of buyers looking at your type of property then sales will usually go quicker, as increased competition should lead to higher bids and more proactive buyers. If the housing market is slower, with fewer buyers, then timescales may be longer and marketing and pricing structures may have to be reviewed.


6.    What happens if I don’t find a buyer?
In the vast majority of cases it is the valuation placed on the house that deters buyers. Adjusting the valuation of the house or offering some form of discount is the preferred route to generate more interest. It is worth looking at the way your house is presented, as decoration and deterioration may put off potential buyers. Ensure that your property is in the best condition possible to entice buyers into placing a bid.

The valuation appointment
1.    Will I have to decide there and then?
You will not have to decide anything at this stage. The agent will provide their valuation report, let you know their findings and give you some time to consider your options. They will more than likely contact you within a day or two to see if you are proceeding with them.


2.    What do I need to do to prepare for a valuation?
There is nothing you have to do ahead of the valuation appointment though there are lots of things you can do. Most people tend to clean the house and make it presentable whereas other may re-decorate. For full advice please read our advice page preparing for the valuation.


3.    What will the agent ask me?
The agent will be interested to know how long you have had the house for, and what price you purchased it for. They will also ask about any renovations you have undertaken and any potential problems you are aware of. It is best to be honest with the agent, as any problem found later on in the process may cause unnecessary delay or worse, a transaction falling through.


4.    Do I need to have any documents ready?
No, the agent will be more interested in the look and feel of the house than any documents. The only document that is particularly relevant is the deeds to the house, which the agent may wish to look at and you would need to locate ahead of the sale.


5.    How long will it take?
It depends on the size of your house. The valuation appointment generally takes around an hour. During this time the agent will take a look at the property, take every factor into consideration and provide you with a valuation.

After the valuation
1.    My house is worth less than I thought
The UK housing market is continually changing, with property prices fluctuating often as a result. Unfortunately this may sometimes result in houses being worth less than originally thought. Please be aware that the estate agent is experienced in valuations, and their quote is based on their knowledge and expertise. There are a number of things that can be done to improve the value of the house, including adding an extra bedroom, bathroom or conservatory to the property.


2.    There is no equity in my house
This is a problem that many people face. The lack of equity in a property may force you to reconsider your move. Think about what cash deposit you may have if you can use this towards your next property. With no equity it is difficult to get a mortgage lender to provide the finance for your move.


3.    What is a good agency fee to pay?
Estate agent’s fees vary, depending on the agreement you have in place and the type of property. They tend to range from 1 - 2.5% of your property’s sale price. You may be able to negotiate the fee but it is worth considering what the agent is offering to do for this fee, and select based on this rather than the cost to you.


4.    Can I dispute the valuation figure?
You may wish to dispute, or receive evidence to support, the valuation figure. Keep in mind that the estate agent is an expert in valuing property, and that their figure also takes into account recently sold and on-market comparable properties. Their aim is to get your instruction, so it is in their best interest to give you a valuation that pleases you without pricing you out of a sale.

5.    I’ve received multiple valuations, but the figures were different

There is no mathematical process for valuing a house, and therefore figures may differ from agent to agent. The agent will be looking to give you a price that your property will sell at, rather than one that leaves you struggling to sell. Consider the full package the agent is offering you when weighing up your options, as sometimes a lower valuation may come hand in hand with a more proactive marketing plan.


6.    What marketing will I get for the agency fee?
Due to the ever increasing online market, agents are increasingly turning to the internet to find buyers and generate interest in your property. Through their own websites, and national property portals, agents will market your property to the widest possible audience. They will also use traditional offline tactics such as For Sale boards and local papers.


7.    How do I put my property on market?
The agent will begin marketing your property once you instruct them to do so. They will usually get you to sign an agreement stating that they are allowed to market your property on your behalf. You will then see your property appear on internet portals, the agent website and in your local paper.


8.    Do I need to speak to my solicitor/mortgage advisor at this stage?
It is advisable to speak with a solicitor at this stage, and inform them of your intention to sell. They will be able to get the process started and put together the required documentation. Similarly, getting your mortgage arranged at this initial stage will save you time and effort later on in the process.


9.    How much will it cost me to sell?
In addition to the estate agency fee, there are a number of additional costs to consider when moving house. You will need to purchase an Energy Performance Certificate (EPC), which is a legal requirement, before selling a house. There are also the lender and solicitor fees to consider. Finally, there are little one-off payments that add up, including arranging the removals, any utility cancellation charges and insurance for your next property.


10.    Who do I agree terms with?
You agree terms with the agent selling your house. If you decide on using more than one agent then you will have to let all parties know your intention and ensure that they are aware. You will need to sign an agreement with any agent marketing your home.


11.    Should I use multiple agents?
There are benefits to using one, or multiple, agents. With multi-agency agreements you may pay a slightly higher fee but you will have at least two agents competing to sell your house. This often results in more proactive market and increased interest in your house.


12.    What can I afford to buy based on this valuation?
This depends on the amount of equity you have in this property, any additional funds you possess and the amount a mortgage lender will provide you with. The valuation will give you an indication of this, and you can use this figure to take to a financial advisor.


13.    Can I go on market with a higher price?
You may wish to go on market with a higher price, but this increases the chance of your property repelling prospective buyers. The agent provides a valuation which they believe will allow you to sell. Remember that the agent wants your house to sell and their valuation is made with this in mind.


14.    How long will it take to get the board up?
The average time to get the ‘For Sale’ board up is 48 hours, or two working days. Following instruction the agent will order the board from their supplier and it should be erected shortly after delivering.


15.    When do I pay my fee?
The estate agent receives the fee on completion. The money will be taken from the money received for the property.

Back to top