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Anyone got any tips for getting maximum home report valuation in Scotland?


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Hey everyone,

 

I've recently moved up to Scotland and working on my first flip. Got what I think was a great deal on a property, added value and done what has worked for me down in England before where i'm positive I can sell for profit.

 

The problem is, in Scotland (for those that don't know) it's the sellers responsibility to instruct a surveyor and get a home report (with valuation) before you market the property. This value significantly effects the eventual price the property sells for as lenders will only lend up to this value.

 

So in short, has anyone got any advice on getting this value the maximum it can be? Getting both agents and surveyors on board with an increased price. What would you say when asked how much you paid for a property?

 

Thanks,

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I think getting the right agent is key as they usually use the same surveyor and unofficially they work together. In my experience, if you tell the agent what you think the property is worth, they'll try and get that for you, no matter what they thought it was worth. Within reason of course. This involves them passing these figures to the surveyor, when they book the surveyor. The surveyor will then match this value if he can justify it.

 

For example, I sold a property recently for 153k. I thought it was worth 150 but the agent thought 145. He said he would try and see if we could get a valuation above my figure to allow for the buyer to haggle down the price. It was valued at 155. The way I see it the agent earned his fee!

 

Im not saying the system is bent but there's definitely wiggle room for the right agent to exploit.

 

I'd tell the truth when asked what you paid for it. They probably know anyway. I doubt the surveyor would ask. He has to value the property you put in front of him. What you paid for it shouldn't influence him.

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