Remote Desktop Valuation
Need a quick and easy way to value your property? A desktop valuation is the perfect solution. Perhaps your SAM Help to Buy valuation is expiring or you're just curious about your property's value.
Book our fast and convenient desktop remote valuation service to get the information you need, when you need it.
What types of valuations use a desktop?
- Expiring Help to Buy valuation.
- Expiring Staircasing valuation.
- Lease extension valuation.
- Insurance valuation (depending on the insurer).
- Capital Gains or Inheritance Tax valuation.
- Remortgage valuation (depending on lender and valuer).
What is a desktop valuation?
A desktop valuation is a remote property valuation process that relies on publicly available data and information, such as property records, comparable sales data, and online property portals. It is generally only valid for 90 days (3 months).
It's sometimes used as a cost-effective and time-efficient alternative to a traditional in-person valuation, but cannot be used instead of an in-person valuation if this is your first valuation request.
Remote valuations can be completed much faster than in-person valuations, often within a few business days. They're also more affordable as there's no need for physical site visits, and you don't need to arrange access to the property.
If you're remortgaging, a remote valuation can help streamline your process if the original valuation expires, saving you from having to pay out for another in-person valuation.
If the property has been bought, sold, or refinanced recently, the available data is likely more up-to-date. However, for properties without recent transactions (e.g., those not valued in 20-30 years), a traditional, on-site valuation is typically required to provide a more accurate and reliable assessment.
Call or send us a message to request a callback or an email answering your queries. Our UK-based valuation team can help you choose the right service to fit your needs.
There's no obligation to instruct. We'll make sure you understand your options and provide a free, fixed-fee quote to move forward. No robots, no call centres. Property challenges solved.
When is a desktop valuation appropriate?
Leasehold extension
You'd use a desktop valuation for a leasehold extension valuation, especially when the property is standard (like a flat in a modern block) and no significant complexities or unique factors are affecting the property's value.
However, for more complex leasehold extensions, such as those involving unusual property types, significant ground rent reviews, or specific lease terms, a physical valuation may be more appropriate.
Insurance reinstatement value
A desktop valuation could be a cost-effective way to determine an insurance reinstatement value, particularly for standard construction properties. For complex or high-value properties, a physical inspection by a RICS-accredited surveyor may be necessary.
Remortgaging
Much like for a lease extension valuation or insurance valuation, as long as your property is of standard construction and has not had extensive renovation work, you could use a remote valuation for a quick and convenient option.
You must be sure that your mortgage lender is comfortable with a desktop valuation based on the property's characteristics.
Extending an existing physical valuation
If your Help to Buy or staircasing valuation is about to expire, you could arrange a desktop valuation to extend the validity of your existing physical valuation.
However, if the property has undergone significant changes or the market conditions have destabilised since the original valuation, you will require another physical valuation.
How do desktop remote valuations work?
Data Collection:
Gathering data from local authorities, comparable sales data from recent transactions in the area, online portals like Zoopla, Rightmove, or similar, and geographical information systems (GIS) for location-specific insights.Data Analysis:
The data collected is then analysed to identify trends, patterns, and other factors that influence property values like the size, type, location, neighbourhood, economic conditions, and local amenities.Valuation Model:
A model is applied to the data analysis to estimate the property's value. this could be a comparable sales analysis (CSA), statistical modelling, or a hybrid model combining multiple methods.
What is the difference between a desktop and a full valuation?
A full valuation involves a physical inspection of the property by a qualified valuer. This allows for a more detailed assessment of the property's condition, size, and unique features.
While more time-consuming and expensive, a full valuation provides a more accurate valuation as opposed to a desktop remote valuation using publicly available data.
Feature | Desktop Valuation | Full Valuation |
|---|---|---|
Feature Physical inspection Level of detail Speed Cost Accuracy | Desktop Valuation No Less detailed Faster Less expensive Less accurate | Full Valuation Yes More detailed Slower More expensive More accurate |
Pros and cons of desktop valuations
Pros
- Can be completed much faster than traditional in-person valuations, often within a few business days.
- Generally more affordable as there's no need for a physical site visit. They avoid labour costs, overhead expenses, and travel or administrative fees.
- No need to arrange for access to your property, saving you time and effort.
Cons
- Won't be accepted for Help to Buy or staircasing valuations unless you're extending an existing physical valuation.
- May not be as detailed as traditional valuations because of no physical inspection. Unique features, extensions, or property condition issues may not be fully captured.
- Public data reliance can sometimes lead to inaccuracies, especially if property information isn't up-to-date.
- Complex, unique, or recently renovated properties might require a physical inspection due to unusual layouts, historical significance, or how it's been altered.
Future trends
Emerging technologies like AI and machine learning have the potential to enhance the accuracy and efficiency of remote valuations. These technologies can analyse vast amounts of data to identify trends, patterns, and potential anomalies, leading to more accurate valuations.
Desktop remote valuation cost
A general cost for a desktop valuation in the UK can range from £150 to £300. However, this can vary depending on the complexity of the property and the specific requirements of the valuation.
We offer this service from £180 INC VAT for leasehold extensions, insurance reinstatement valuations or if you're remortgaging.
Get in touch with us if your SAM Help to Buy or Staircasing valuation is expiring; we can arrange for the same RICS-accredited surveyor to value the property again.
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