Acrewoods provide commercial and residential property valuation advice to banks and building societies, property companies, developers, investors, individuals and fund managers.
Our valuation department is experienced and is headed by Barry Bhalla. We work exclusively in areas including
- North London
- West London
- South London
RICS HOMEBUYERS REPORT
Designed by the RICS, this report is perhaps the most common type of survey undertaken, and is aimed to fill the gap between a lender’s basic valuation and a detailed Building (or Structural) Survey. The Homebuyers Report is designed to assist buyers to make a reasoned and informed decision as to whether to proceed with a purchase by identifying any defects which may be apparent to the building, and also providing advice upon what is a reasonable price to pay for the property. When carrying out an inspection of a property, the surveyor will undertake an inspection of the inside and outside of the property, undertake an inspection within the loft and, where appropriate, lift manhole covers. Comments are made upon the services and the site, and the location within which the property is situated. The report includes sections upon all main elements of the building, including roofs, walls, floors and joinery. For ease of reference, each element or part of the building is given a coloured condition rating:
Condition Rating 1 (green) – no repair is currently needed, the property must be maintained in the normal way.
Condition Rating 2 (orange) – defects that need repairing or replacing, but are not considered to be serious or urgent, the property must be maintained in the normal way.
Condition Rating 3 (red) – defects that are serious and/or need to be repaired, replaced or investigated urgently.
Purchaser’s main concerns are frequently dampness, movement and timber defects, and comments upon each of these are included within the Homebuyers Report, which also includes a section upon any legal matters which should be brought to the attention of the purchaser’s solicitors.
Importantly, the Homebuyers Report includes a valuation of the property, and the cost of reinstatement for building insurance purposes.
We are also able to provide additional services beyond the scope of the standard Homebuyers Report, such as the practicality of carrying out future works such as loft conversions or extensions.
PROPERTY TAX & ACCOUNTS VALUATIONS
Our professional valuations are all undertaken by Chartered Surveyors which have experience with providing valuations for tax and accounts purposes. Our valuations are compliant with RICS Valuation Standards (Red Book).
- Probate Valuations
- Business Rates / Rateable Value
- Probate valuations – our valuers provide advice on all aspects of Inheritance Tax valuations.
- Business Rates / Rateable Value – with strong market knowledge we will negotiate with the DV to reach a fair and reasonable conclusion.
- Accounts–We also specialise in the valuation of commercial and residential investments and portfolios in the UK for secured lending, accounts, acquisitions and sales.
Commercial Valuations are often required by owners of buildings to assist with their tax planning, inclusion in pensions (i.e. SIPPs) and to assess the value of their property portfolio. We are familiar with preparing freehold valuations for investment purposes, taking into account rental income.
We are also able to advise prospective purchasers looking to acquire commercial premises at auction, and as to the potential value which the property could achieve.
We also prepare valuations of residential development sites for builders looking to acquire sites for the construction of houses or flats, or for commercial premises. Residual valuations and development appraisals are prepared in accordance with the client’s specific requirements.
We have experience in undertaking valuations of commercial premises for company asset valuation purposes. Under current legislation companies preparing valuations for their accounts require a formal valuation in accordance with RICS guidelines.
VALUATION FOR SECURED LENDING
We have experience in preparing valuations for secured lending purposes for many high street lenders, of both residential and commercial premises.
Whilst we are on the panel of a number of high street lenders, we would be only too pleased to discuss your individual requirements and advise as to whether we would be able to undertake the type of secured lending valuation required. Where such valuations are necessary, formal instructions would need to be received from the individual lender before we can proceed.
All our valuations are compliant with RICS Professional Valuation Standards (Red Book).
Expert witness reports are prepared to assist a Court upon the value of a property, or specific items in relation to a building or its boundaries.
We have experience in preparing valuations for Court purposes, and providing evidence in person at Court. We are familiar with current guidelines in relation to the instructions of an Independent Expert, and in relation to the preparation of witness statements