Valuation Report for Cheriez Properties: Inspection and Analysis

This document is a detailed property valuation report for a specific property inspected on September 12, 2018. The report, completed for Pink Flamingo Relocation Services Ltd, includes a comprehensive description of the property, its construction, tenure, and condition. It assesses internal and external presentations, identifies defects, and evaluates structural stability. The report also covers fixtures and fittings, garden and site characteristics, location and local amenities, saleability, and market trends. It provides comparable evidence, a valuation, insurance replacement details, and additional comments. The valuation considers the current market value, the value of removable fittings, and suggests an asking price. Furthermore, it considers the property's location, nearby amenities, and potential factors affecting its saleability. The report concludes with a checklist and supporting documentation, providing a complete overview of the property's condition and market value, adhering to RICS standards.

Pink
Flamingo
Relocation
Valuation Report
Completed by: ………………………………………………………………………..
Property address: Owner’s name:
CHERIEZ PROPERTIES
Date inspected: 12TH SEP 2018
Weather:
Was the property occupied?
Yes:  No: √
FRONT OF PROPERTY REAR OF PROPERTY

ON NO ACCOUNT SHOULD THE CONTENTS OF THIS REPORT BE
DISCUSSED WITH THE CURRENT OWNER
Figure 1: Figure showing the floor plans and the proposed space for
extension which we want to have a gym (shaded blue)
2

THE PROPERTY
DESCRIPTION:
House  Bungalow  Detached 
Semi  Terraced 
Flat  Conversio
n √ Purpose
built 
Maisonett
e  Floor
(No) 2
Year of construction 2018
If age less than years, is NHBC certificate available? Yes:  √ No: 
CONSTRUCTION:
Timber frame √ Stone  Brick 
Cavity wall  Solid
walls √ Rendered 
Tiled roof  Slated
roof  Thatched
roof 
Other roof covering Iron sheets
Is any part of the roof flat? Yes:  No: √
If yes, state finish
TENURE:
Freehold √ Leasehold  Unexpire
d term
Yrs Feudal 5 Ground
Rent £ 206
Chief
Rent/Feu
Duty
£
Rateable
Value £ nil Rate in the £ £
Rating/ community charge £ nil
Authority City county
Service/maintenance Charges £ 10
Are the roads
made up? Yes: √  No:  Are the roads adopted? Yes: √ No: 
Who is responsible for the roads? Local
authority
If roads not adopted, what charges are likely? £
If roads are privately owned, is there a maintenance charge?
Yes:  No:  Charge £12
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Who is responsible for this charge? Community
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CONDITION AND DEFECTS (Please expand on blank page if necessary)
Internal Presentation? Good √ Average  Poor 
Urgent repairs necessary?
Not necessary
Approximate cost £ 4189
External Presentation? Good  Average √ Poor 
Urgent repairs necessary?
Yes only the lawn area
Approximate cost £ 2348
Kitchen fitments Good √ Average  Poor 
Bathroom fittings Good√  Average  Poor 
STRUCTURAL/ SUBSIDENCE
This is not a structural survey.
However, were signs of subsidence,
movement or any structural defects
noticed or suspected during your
detailed inspection (including the
roof void)?
Yes:  No:√ 
Details
Did you notice, either on site or
within the vicinity any factors likely
to affect the stability of the property
or be detrimental in any other way
(e.g., made up or steeply sloping
ground, proximity to a quarry, etc)?
Yes:  No: √
Details
To your knowledge, have any other
properties within the locality suffered
from subsidence or other structural
damage?
Yes:  No: √
Details
Would you recommend further
investigation by a Building Surveyor/
Structural Engineer?
Yes:  No: √
Is there anyone you would recommend?
Would you recommend further
investigation by a specialist company
Which?
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in respect of timber, damp, wall ties,
electrical and or plumbing defects?
Yes:  No: √
Is there anyone you would recommend?
In its present condition, do you
consider the property to be readily
mortgageable?
Yes: √  No: 
If “no”, please advise
GUARANTEES
Are there any guarantees available
relating to the property?
Yes: √ No: 
Details
The residents who occupy some of the houses
RETENTION
Are there any aspects of the property
that may cause a retention by a
Mortgagor?
Yes:  No: √
Details
EXTENSIONS
Has there been any additional
construction since the property was
built?
Yes:  No:√ 
Details
If “yes”, enquire from the Owner and
advise if Planning/ Building Regs
Consents were obtained.
Yes:  No: 
Is the extension in keeping with the character of the
main structure?
Yes:  No: 
FIXTURES AND FITTINGS
[1] Please list the items that form
part of the Freehold/ Leasehold
interest and which you will include in
your open market valuation (e.g.,
oven, hob, wardrobes, etc).
The land, house, the wardrobes, oven, microwave,
refrigerator, cooker, the chandelier, the LED lights)
[2] Pink Flamingo Relocation Services
Ltd usually buy removable items such
as carpets, light fittings, curtains, etc
from the Owner at a price that you
feel we could expect to recover from
Chandeliers, refrigerator, oven,
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a willing buyer upon resale. Please
list such items in accordance with the
list supplied by the Owner.
Price that you assess a willing buyer would pay for the above removable
items in section [2] (not insurance, replacement or auction value) £ 11,000
GARDEN/ SITE
Maintenance Good  Average √ Poor 
Frontage: Feet/metres Total depth: Feet/metres
Approx.
size of site
508.6 m2
Sq.ft/m2
Are there any unusual characteristics relating to the
garden/ site (e.g., shape, slope, etc)?
Shape
LOCATION AND LOCAL AMENITIES
Location: City  Town  Suburb √ Village  Rural  Population
(approx)
12000
Is the property in keeping with its
surroundings/ neighbourhood?
Yes: √ No: 
If “not”, please give details
What is the outlook from the
property? The property is worth investing in
What amenities are available locally
(distance from schools, shops, post
office, etc)?
Schools, coffee shops, a shopping mall
Please provide details regarding
road/ rail links, public transport
facilities, etc.
Rail proximity, about 300 meters, road links the kerb of
the place
SALEABILITY AND MARKET
Do properties in the area sell easily ? Yes: √ No: 
Is there demand for this type of property? Yes: √ No: 
Are there many similar properties for sale? Yes:  No: √
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Are there any aspects (due to the
environment or otherwise) within the
locality that are likely to affect the
saleability of the property, be they
past, present or future (e.g.,
factories, electrical substation, etc)?
Yes: √ No: 
Please give details
Just a low-class housing
Is the property market in the area rising √ falling  static 
What would the expected normal selling period for the property be? 12 weeks
Has the use of the property ever been
anything other than residential, or
has the property ever been owned by
the Local Authority?
Yes:  No: √
If “yes”, please give details
MARKETING (please expand on blank page if required)
Is the property on the market at
present, or has it been within the last
3 months?
Yes: √ No: 
If so, with which Estate Agent(s)? Please list with
addresses and telephone numbers.
No estate agents
Current
asking
price
£ 98,638.04 Previou
s £ 98,638.04 Time on market 5 months
If the property is currently on the
market, please liaise with the
agent(s) and advise of any interest
Rics Homebuyer
Do you have any recommendations
regarding the marketing of this
property?
The marketing company needs to heighten the fact
that the terms of payment are flexible
GENERAL
Although our Solicitors will carry out
a local search, please advise if you
are aware of any planning or other
proposals that could affect the
property.
If “yes”, please give details
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Yes:  No: √
Are you aware of any unusual aspects
of the property where you advise our
Solicitors should investigate further
Yes:  No: √
If “yes”, please give details
Are you aware of any special features
in the property?
Yes: √ No: 
If “yes”, please give details
The fact that there’s a swimming pool, the interiors
décor that are bought with the property
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COMPARABLE EVIDENCE
Please provide full details of similar properties sold or currently being
marketed on which your valuation has been based. Full agents’ particulars
should be attached where possible
SUBJECT
PROPERTY COMPARABLE 1 COMPARABLE 2 COMPARABLE 3
STYLE/TYPE
maisonette (floor .2..)
Detached bungalow House
NO OF BEDROOMS 4 4 3 3
RECEPTIONS (No) 0 0
BATHROOMS (No) 4 3
CLOAKROOM 4 3
UTILITY ROOM 0 0
GARAGE Single Single/double/none Single/double/none Single/double/none
TYPE OF CH Gas and elec Gas/oil/elec/SF/none Gas/oil/elec/SF/none Gas/oil/elec/SF/none
GARDEN SIZE 156m2
FLOOR AREA 200m2 Sq f/m2 Sq f/m2 Sq f/m2
TENURE Freehold Freehold Freehold Freehold
CONDITION Good Good/average/poor Good/average/poor Good/average/poor
AGE (approx) 53 years years years years
DISTANCE TO SUBJECT
PROP
SELLING AGENTS
Rics
ASKING PRICE 98,638.04 £ £ £
DATE ON MARKET 21st September 2018
STATUS Sold Under offer/exch/compl Under offer/exch/compl Under offer/exch/compl
SALE PRICE 98,638.04 £ £ £
SALE DATE 22nd March 2019
ADDITIONAL
COMMENTS
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VALUATION
In my opinion, the current market value of the property with a
maximum period of 26 weeks in which to complete the sale and
excluding removable fixtures and fittings is £ 108,450
In my opinion, the value of removable fittings being left behind by
the Owner is £ 114560
I would suggest an asking price of £123000
I would consider the appropriate selling period will be 18 weeks
In my opinion, the Forced Sale Value of the property assuming
completion within 90 days including fixtures and fittings is £118500
INSURANCE REPLACEMENT
External floor area 503 Sq. ft/ m2 Number of storeys 2
Buildings, including all domestic outbuildings, fees & demolition £ 210
Contents (i.e., fixtures & fittings being left behind by Owner) £200
I certify to the best of my knowledge and belief that the information given in this
report is true, that I have personally inspected the interior and exterior of the
subject property, that I have taken the condition and state of repair of the property
into account when valuing together with other factor which affect the property’s
value, that I have no present or contemplated interest in the property, that I have
undertaken this valuation of behalf of Pink Flamingo Relocation Services Ltd and its
Client and that I am fully covered under the terms of my firm’s Professional
Indemnity Insurance policy.
Signature Date
Name Qualifications
Firm/ address/ tel. number
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ADDITIONAL PHOTOGRAPHS
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