As one of the leading firms of Chartered Surveyors in Scotland, we provide a comprehensive range of residential property surveys and valuations – from basic mortgage valuations to detailed building surveys.
We are a trusted name in the Scottish Property market, act for all major Building Societies, Banks and Lending/Financial Institutions and are listed on all the major lenders’ panels. Our valuations, surveys and other reports are recognised and accepted by all key mortgage providers.
Approach
Instructions were received from a National Lending Institution for our Edinburgh Residential Team. Their London based Client Aquiler Property Ltd was seeking to purchase a block of flats for refurbishment and resale, which required valuations to be carried out for lending purposes.
Graham + Sibbald’s Residential Surveying team includes some of the most experienced valuers in the business. Our teams are all highly trained and are registered to the Royal Institution of Chartered Surveyors (RICS). We provide a comprehensive range of services for Residential Property, including surveys, valuations and more.
Graeme Boyd, Residential Partner at Graham + Sibbald, undertook the initial valuations which involved a number of valuation considerations including individual units market value, cumulative market value and rental value. Keith Watters, Commercial Agency Partner at Graham + Sibbald, assisted in the provision of investment value.
Key Challenges
The research and accuracy of comparable evidence is a crucial part of the process when valuing any property. This evidence goes hand in hand in producing a sound valuation that can stand any scrutiny from the Client, Lender or even the market. It is therefore of high priority to ensure that time and care are taken to identify, analyse and apply relevant comparable data for each property. On this instruction, a number of valuation scenarios were required which required input from Graham + Sibbald’s Commercial Department.
Results
Following successful purchase and refurbishment, Graham + Sibbald were once again instructed by the Client, this time to provide Home Reports on all flats for them to be exposed to market by Cairn Estate Agency.
When a residential property is sold in Scotland it has to be marketed with a Home Report. The Home Report consists of three mandatory documents (a single survey, an energy performance certificate and a property questionnaire) together with a mortgage valuation report which, importantly, allows the report to be utilised by any prospective purchasers’ lender. Graham + Sibbald are experts in the production of home reports and can provide all elements of same.
Due to our strategic network of offices and experienced teams, we are able to provide a cost-effective and prompt service to all Clients across Scotland, allowing you peace of mind with a report you can trust.
Within just two weeks of marketing, two out of nine flats were already marked as under offer. Contact Cairn Estate & Letting Agency for more information on the remaining properties.
Key Message
Collaboration between departments and excellent communication was maintained with the Client and Lender throughout in order to allow the property purchase to be completed within the relevant timescale.
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