Shared Ownership Valuations
If you bought your home through a shared ownership scheme, you’ll need a RICS equity valuation as a legal requirement if:
You’re looking to increase your percentage share (this is known as ‘staircasing’)
You’re planning on selling your home.
Choosing Richard Russell Surveyors means you can be sure your RICS valuation will be carried out efficiently and with absolute accuracy, so you’re in the strongest position to:
Negotiate fair terms that suit your situation
Manage your new monthly payments
Avoid delays - particularly as equity valuations for staircasing are typically only valid for just three months
We’ll also share our invaluable local market knowledge, expert advice and meet our signature promises:
Using our flexibility and efficiency we’ll book you in as quickly as possible
We don’t dither, you’ll get your report within one working day of the valuation
Our door remains open for a long as you need us
Making it convenient and straightforward for your peace of mind
Simply get in touch with us here to get the ball rolling, then:
we’ll arrange to come and visit your visit home to carry out the property inspection
we factor in the values of similar properties in your area as well as market conditions
you receive your valuation report within one working day
we’ll guide you through the entire process, step by step
we keep our door open for you until everything has been completed to your satisfaction
Good to know...
Some housing associations require you to use their own approved valuers, so it’s a good idea to check with them first if you’re not sure.
Additionally, a number of housing associations will allow the valuation to exclude any significant improvements you’ve made to the property. This means that the extra value you may have added would not be factored into the ‘staircasing’ or redemption figure, rather than the housing association being the beneficiary of the increased market price.
Here’s a helpful example:
A tenant has added a conservatory during their period of ownership, so we would provide a value of the property that includes the conservatory, but also a valuation based on the assumption this extra structure had not been added. The housing association would then base their ‘staircasing’ or redemption calculation on the valuation disregarding the improvement.
Just to note, there can be variations across differing housing associations as to what is considered a ‘significant improvement’. Also the full cost of an improvement won’t necessarily be the same figure as the value difference you would recoup.
We’re looking forward to hearing from you and helping you make a positive next move in your home-owning journey!