Independent Valuations
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Help to Buy Valuation
If you are in a position to repay your Help to Buy loan then you will be required to obtain a Help to Buy compliant valuation in line with Target HCA requirements.
A RICS valuation provides an independent assessment of the current market value of the property. The government administrator requires the homeowner to provide a valuation report from a RICS registered valuer. The valuation is used to calculate the amount you will need to repay.
The report must be based on at least three comparable properties. An internal inspection is also made of the property.
Chesterton Smart are able to provide a report to you within 5 working days. The valuation is valid for 3 months from the date of inspection
Shared Ownership Valuations
If you looking to increase your share in the ownership of your home or sell your current property then you will require a valuation carried out by a RICS Valuer.
You will be required to obtain the requirements of the Housing Association as different associations have different rules and requirements. Chesterton Smart’s valuations are carried out in accordance with the RICS Red Book. Depending on the requirements, we may take into account any improvements that have been made when assessing open market value.
We will inspect the property and take into consideration the condition of the property but this is not inspected in detail.
The valuation is valid for 3 months. If the sale has not completed during this time, we can undertake a desktop valuation to review and/or renew the valuation for an agreed fee.
What Our Clients Say
Brenda Knaggs
“I hired Chesterton Smart to carry out a survey on a house I was interested in. Nick was very knowledgeable and submitted an in-depth survey and even though I didn’t proceed with the house purchase I was very grateful for his findings. I had a subsequent phone call with Nick and he was very helpful and gave me sound advice. I have no hesitation in recommending Chesterton Smart.”
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Ramesh Patel
“I would highly recommend this company they helped me through the whole process from design to finished working drawing for my extension to my property the cost was very fair and they were always there to answer any questions. For any one looking to have an extension built to there property I would recommend you give them a call.”
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Karen Paisley
“Excellent service with good communication throughout. As a novice at house buying this personal service was very much appreciated. Building Survey reports were produced quickly and to a very high standard. Any subsequent questions I had were answered instantly. I would highly recommend Chesterton Smart and would use them again without fail.”
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Guy Holland Groen
”The survey undertaken on our behalf was sufficiently clear and thorough to allow us, the client an informed opinion concerning the property. In this case we decided not to proceed with the purchase as the survey had exposed serious flaws that were not obvious to the naked eye, thus stopping us from making a mistake.”
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Natalie Kelham
“I was really impressed with the service I received from Chesterton Smart Surveyors. Nick was very knowledgeable and approachable and kept me informed throughout the process, which I found very quick and efficient. The final report I received back was very comprehensive and helpful in highlighting areas which I should review with my solicitor.”
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Mr & Mrs McGrath
Very happy with the service provided and the speed of undertaking the report. Due to Target’s timescales this was very time sensitive so the speed of delivery has been much appreciated.”
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David C
“I employed Chesterton Smart to carry out a survey on a period property; the survey was carried out quickly and the results presented in a professional manner but with an understanding of my needs and included an in-depth discussion of the results and follow up offers of further guidance. I would not hesitate to employ them again and recommend them to friends and family”
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Capital Gains Tax Valuation
Since 1982 any gain made from an investment property sale is the subject of Capital Gains Tax.
Payment of tax is due on the increase in value. For residential property it may be 18% or 28% and is not applied to the total sale price of the property. The amount of tax is dependent on various factors which includes income and whether the property is held as an individual or joint names.
Capital Gains Tax is payable on both residential and commercial properties.
Chesterton Smart are experienced in providing a robust report for you to submit to your accountant or direct to HMRC. This is helpful where an individual or entity is being charged much higher or lower tax rates than required.
It is important to consider the condition and status of the property at that date of inspection. If you have already sold the property then we undertake a desktop analysis to establish the value at a specific point in time.
Matrimonial Valuations
Where an estate is subject to inheritance tax, it is likely that a RICS Red Book valuation is required to assist in calculating the inheritance tax due to HM Revenue & Customs. In your duty as an Executor, you will be responsible for discharging your duties to the Estate. Probate valuations are often retrospective and can date back many years.
A probate valuation prepared by Chesterton Smart is compliant with all the rules and regulations defined by the Red Book. We will provide the relevant assumptions in calculating the market value which can be justified if questioned.