Surveyors
Home & Capital arrange equity release plans for homeowners aged 60 and over, where all or part of their property is sold under our Home Reversion plan.
We administer the resulting plans and in this capacity commission valuations on residential properties. An instructed surveyor will owe a duty of care directly to ourselves and our financiers. Investment funding may play a part in the final transaction and Bankers or third parties may require confirmation of the valuations included in the survey report.
Where essential repairs are recommended, or improvements proposed, the report requires a second valuation. As we use the open market valuation as the basis for the purchase, this can have a significant effect on the transaction. In this case, the necessary repairs/improvements become a condition of the transaction, and, in order to achieve the higher value, a retention is occasionally made to ensure the work is completed. ‘Round figure' estimates are acceptable against each listed repair.
We require as accurate an assessment of the Market Value as possible, together with recent comparables to support a valuation and an indication of present market trends. This valuation is then used to calculate the price of the proportion of the property acquired by Home & Capital.
Home & Capital will not necessarily inspect the property during the transaction, so it is essential that the items listed in the report are dealt with. A surveyor's local knowledge on matters that may affect the resale value is of key importance e.g. road access, rights of way, statutory requirements for permissions, local environmental considerations etc.
Instructed surveyors should aim to contact the homeowner within five days and complete a report within ten days of the date of this instruction. To facilitate this, the report may be faxed on (01234) 271547 or emailed to enquiries@homecapital.co.uk.
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| Report & Valuation |
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If you have any queries regarding information held on this page, or the Report and Valuation form, please email enquiries@homecapital.co.uk, or call us on (01234) 340511.