Property Valuation

I'm a bit out of date with property valuation as I have been in my current home for thirteen years. I'm wondering the best way to go about having my property valued but I'm not planning to sell or move at the moment, I will try to explain.

We have an acre of land with two houses on, each on a separate land registry document but both have the same address as one is an annexe. I'm thinking about selling the main house off and building an eco house on the plot where the annexe is. I need to know roughly how much money the main house is worth so I know how much money we have to build the eco house. I know we may not get permission to build but I need to know if its affordable first.

Any idea who to speak to about valuations? What fees do they charge? We are right on the borders of Sheffield and Rotherham.

This may be a little immoral, but you could always get a couple of estate agents out to value it and just not tell them you aren't ready to sell just yet. That option is free of course. Not sure how much surveyors would charge to give a valuation though, sorry.

Sounds like an exciting project for you though.

How could I ask them how much half of my property is worth without giving the game away? They are likley to know or see the name on the annexe so I can't pretend I don't own that bit too.

Why not apply to Grand Designs Chez2. You might get some cash and we get to see you build your eco house. http://www.channel4.com/kevin

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I might do but I think its a good few years off yet.

I know various local 'bodies' are going to build a small eco house and get it lived in to see if it works. Its a project for affordable social housing 'totally off the grid' ie no power, fuel, sewage or water from the 'mains'. If it works I would like a bespoke version built. Our current home is a bit on the big side for two people so we would need to downsize as we get closer to retirement. This is some way off yet but the eco house is a long held dream of mine.

How could I ask them how much half of my property is worth without giving the game away? They are likley to know or see the name on the annexe so I can't pretend I don't own that bit too.

Just tell them you are considering selling the house, but keeping the land, so could they value it taking that into account.

Just tell them you are considering selling the house, but keeping the land, so could they value it taking that into account.

But I'm not though so I would be asking them to value the 'wrong thing' so would end up with a wildly inaccurate price. I would be keeping approx half the land and one of the two houses.

each on a separate land registry document

That there are two separate HMLR titles makes no difference at all to valuation.

That there are two separate HMLR titles makes no difference at all to valuation.

I'm aware of that. It does make it easier to show a valuer the boundary as whole and the planned split. The land registry details clearly outline the size of each 'half' if we were able to obtain planning permission.

I was trying to 'paint a picture' of the land and houses but people still don't seem to have been able 'picture it'. I explained that detail so people were aware that is wasn't one house or two houses on one bit of land/garden with a separate bit of land to one side without anything built on it.

OK, no need to snap- I was only trying to assist! You're "aware of that"; maybe others aren't.

This may be a little immoral, but you could always get a couple of estate agents out to value it and just not tell them you aren't ready to sell just yet. That option is free of course. Not sure how much surveyors would charge to give a valuation though, sorry.

 

Sounds like an exciting project for you though.

I would not worry about morality as it is not a concept which estate agents will recognise.

---------- Post added 31-10-2013 at 19:38 ----------

I'm a bit out of date with property valuation as I have been in my current home for thirteen years. I'm wondering the best way to go about having my property valued but I'm not planning to sell or move at the moment, I will try to explain.

 

We have an acre of land with two houses on, each on a separate land registry document but both have the same address as one is an annexe. I'm thinking about selling the main house off and building an eco house on the plot where the annexe is. I need to know roughly how much money the main house is worth so I know how much money we have to build the eco house. I know we may not get permission to build but I need to know if its affordable first.

 

Any idea who to speak to about valuations? What fees do they charge? We are right on the borders of Sheffield and Rotherham.

Why not ask for a remortgage?

How could I ask them how much half of my property is worth without giving the game away? They are likley to know or see the name on the annexe so I can't pretend I don't own that bit too.

Just tell them you are planning on selling the main house with the land you intend to sell and that you will be keeping the annexe with remaining land to live in while you get planning etc to redevelop once the main house is sold. If you make out you need to sell the main house before you can progress with the redevelopment plans then they should be able to value just the bit you want valuing. The land registry details showing the split in boundaries should help with that if you intend to keep the boundaries as they are.

Failing that, Mark Jenkinson, Knight Frank or Bagshaws (if its an agricultural area) would probably be able to value it for you, but possibly for a fee.

Good luck with it all.