Valuation of Residential Property for Shared Ownership Redemption or Staircasing Purposes
Shared ownership is a housing scheme that allows people to buy a share
of a property and pay rent on the remaining share. Staircasing is the process
of buying additional shares in your shared ownership property over time until
you own it outright.
If you are considering redeeming your shared ownership property or
staircasing, you will generally need to obtain a valuation of your property for
the Shared Ownership Landlord. This is to ensure that you are paying a fair
price for the additional share(s) you are buying or to determine the value of
your property if you are selling it outright.
Why is it Recommended to Obtain a RICS Red Book Valuation of a Property
for Shared Ownership Redemption or Staircasing Purposes?
- Accuracy: RICS
Registered Valuers are highly qualified and experienced professionals who
use a rigorous methodology to assess the value of your property.
- Independence: RICS
Registered Valuers are independent and impartial, so you can be
confident that your valuation will be fair and accurate.
- Compliance: RICS
Red Book valuations comply with the requirements of most shared ownership
housing associations and staircasing lenders.
- Peace of
mind: A RICS Red Book valuation can give you peace of mind knowing
that your property is being valued in accordance with the highest
What Factors Affect the Value of a Shared Ownership Property?
- Location: The
location of the property is a major factor that affects its
value. Properties in popular areas with good amenities are generally
more valuable than properties in less desirable areas.
- Condition: The
condition of the property is also an important factor that affects its
value. Properties that are in good condition and well-maintained are
generally more valuable than properties that are in poor condition or need
- Size: The
size of the property is another factor that affects its value. Larger
properties are generally more valuable than smaller properties.
- Features: The
features of the property can also affect its value. Properties with
desirable features, such as gardens, parking spaces, or
views, are generally more valuable than properties without these
How to Choose a RICS Registered Valuer in West Sussex
that the valuer is a member of the Royal Institution of Chartered
- If it's a national firm, check that the
valuer has experience in valuing shared ownership properties in
- Get a
written quotation from the valuer before they start work.
Henry Adams Chartered Surveyors have a team of experienced and qualified
valuers who can help you with all of your shared ownership valuation needs.
Here are some of the benefits of using Henry Adams Chartered Surveyors:
knowledge: Our valuers have a deep understanding of the local
property market in West Sussex and the factors that affect the value of
residential property in the area.
- Reputation: We
have a reputation for providing high-quality valuation services.
- Transparency: We
will provide you with a clear and concise valuation report that explains
how we arrived at our valuation. We will also be happy to answer any
questions you have about the valuation process or the value of your
Please do not hesitate to get in touch on 01243 215840 should you wish
to discuss any aspect of the above or if you would like us to provide a fee
quote for a Red Book Valuation.