How does hiring a Property Valuer make a great difference or fails?

What is a Valuation?

Valuation is the legal process of dealing with the title (legal ownership) of property. It covers a wide variety of transactions such as property sales and purchases, property transfers, leases, and mortgages. It covers residential as well as commercial property transactions. 

Can any buyer or the seller do it all alone?

Yes! Unless the buyer is a legal expert, practicing lawyer who can check into truth even without getting into knee-deep waters and represent in court in case of any discrepancies. 

 Why is Valuation Needed?

Any legal transaction will expect the party to do tedious legal paper works. A considerable amount of time and effort goes into understanding each terminology and special clauses and minute detailing in the contract. Not any tom-dick and harry can perform this Valuer. And for a layman, it will take months-long to finish this process. Maybe it may take so long that another property can be built at that time. It is actually illegal. It is a criminal offense for anyone who is not suitably qualified to draw up a contract for the sale of the property. At the outset of arranging for certain documents, it is quite essential to ensure that you involve competent Valuation solicitor. The transaction can involve hundreds of thousands of pounds so getting legal help from the start is important. See More :  

Can Solicitors make mistakes?

Mistakes are quite human. No one will ever be able to tell you that solicitors can make mistakes. That would be too untrue. Sometimes wrong data are entered in detail forms or some money transaction itself can go wrong. In a hurry-burry like meeting deadlines and helping the sellers and buyers meet the soliciting Valuers can also make a mistake. However, most of the problems can be overcome. Everyone needs to be calm in times of mistakes. But some of the real difficulties may not from the Valuers side. It could be from the sellers’ or buyers’ side too.  If a party is at fault and there are shifting problems that are arising, then the parties could create a major problem for the Valuers and sellers.

For example, if the buyer is unable to transfer full funds on a given date, then the seller will be advised not to give the keys to the buyers. Buyers cannot move out of their own homes as they have nowhere to go. But their purchaser by now may have paid for their property and must have vacated. Or the latter will then need to move to a hotel store with their belonging and incur expenses. They will expect the defaulting party to compensate them for these additional costs. However, 99% of success is achieved in case completion and closure on time without any difficulty. At the least hiring, a licensed Valuers clears all your doubts about Valuation and makes it easy for you to move with little hassles of any kind of paperwork. You can open your house door and breathe easily entering your new home. 

In the hands of Estate agents or in the hands of your Valuation

There cannot be a better satisfaction and happiness for anyone in a life time as equal to buying a home to live in. To make the matter of buying as peaceful as the staying in the home it is a better advised to handover the task of buying or selling in the hands of mostly a property Valuation, valuator and an estate agent.

Prior to signing the agreement papers, a thorough homework is expected by a smart buyer. This will ensure that the buyer is not paying too much than the worth of the property. Before a property Valuation evaluates, generally the estate agent is called to give a preliminary report. The report must include few detailing like:

  • Property descriptions
  • Valuations by local government 
  • Ownership details
  • Ownership transfer details
  • Price of properties in area with transfer details
  • Price paid by the present owner
  •  Trends of the suburb

An estate agent is quite different from the Valuation. A Valuation or a settlement agent or the solicitor is much beyond the one who is handling your legal documents just right in place and make sure all the legal formalities are observed.   

Valuation is one who exactly plays the vital part in your selling or buying process:

  • Collects information about the property you have your eye on
  • Can supply information to your purchasers
  • Keeps you informed about what exactly is happening
  • manages and co-ordinates the sale and the purchase to ensure that you are only committed on the transactions at the right time 
  • secure transfer of funds dealing directly with the lender 
  • protecting legal interests of yours on your behalf

This is exactly why the Valuation is a step ahead than an estate agent who will actually protect your rights, work to fight against on your behalf specially if in case of illegal deals occurs. 

What are the other procedures that a Valuation takes after the Contract of Sale (Offer and Acceptance document) is signed. The Valuation will thoroughly check your legal documentation. Search for land titles, organize for stamp duty payments and liaise with your money lender and other parties of the representatives.  On your behalf the Valuation will notify the necessary authorities about the change of the ownership of the title. He will look after making apportion of monetary values with water, land and other like ensuring that your settlement goes through on time. All these are plausible reasons why the safety of your property should be entrusted in the hand of the certified property valuator.

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