How is a property valuation done?

A property valuation is a determination of the likely value of a property and can only be carried out by a certified Royal Institution of Chartered Surveyors member.

A valuation is carried out by examining the property and comparing it those which have recently sold nearby. Allowing for small differences between the properties and the changing market over time a likely value can be determined. In essence this is exactly what an estate agent does when providing a market appraisal and the key difference is that a valuation can only be provided by a chartered surveyor.

At Bricks&Logic we also use exactly the same methods, but we use public data as our descriptions for every property. As a result our value estimates are only estimated based on the best available public data.
In our blog: 'How to value my property', we examine in detail not only the common metric of pound per square foot but also how the size of the property and how the local land value affects it's valuation.