An Estate Agent will give a price they anticipate a buyer would pay for your property given current market conditions. This is not an exact science and therefore established local agents who know the market – are worth their weight in gold.
A valuation uses evidence of transactions completed in the market place and these must be comparable to the subject property and recent.
A valuation is inherently a complex business. There are 5 official methods alone and RICS’ Red Book sets out the standards as to how the valuation must be performed.
A valuation can be used for Inheritance tax purposes, a Company’s accounts as an asset valuation and for bank lending purposes for mortgages and/or development loans.
Goadsby offer both services and hopefully this article helps distinguish between the two services.
Visitors to Goadsby Premises Risk assessment
Staff in Goadsby Premises - Risk assessment
Market Appraisals and Property Inspections Risk assessment