Given the huge variation on estimates for the value of a house, I'd be interested to know what techniques they employ to arrive at the value?

1. The traditional walk through.
2. I imagine an obvious one is to xref a public database showing what houses sold for in the same street
3. Is there some kind of guide book (eg. cars dealers use a Glass's Guide) they all use to get a ballpark figure to work from?

Just curious

 

No guide book,

I work in similar job,

we use:

1: www.propertypod.co.uk linked to land registry to give street sales prices
2. Local Knowledge
3. Gut feeling

To be honest there is no science to it and it is not difficult, if you look objectively you should be-able to give yourself a fair idea of what your own property is worth.

I have to leave now but if you want any help PM me a postcode and i'll do what I can to give you a guide.

Will reply tomorrow.

Chop

 

thanks for info

 

There's no Glass's guide equivalent, but there is the RICS Red Book - aka the Appraisal and Valuation Standards. A mixture of mandatory rules and guidance for chartered surveyors... doesn't apply to all estate agents, only RICS members.

You generally need a RICS valuation for most serious purposes, like a valuation for tax purposes.

 

ooh, it gets more interesting!