With the current state of Lockdown, the question of Desktop Valuations is once again coming to the fore. This has been an on and off debate for the last 20 years or so. This time it might have a significant impact with the amount of data that is available and the various techniques now available on a low loan to value and a simple mortgage valuation.
Desktops are fine in a normal market, but in one where we can expect some fluctuations in value over a potentially short period of time, then these are not the most dependable method of producing a valuation, particularly if you consider that desktops are probably not being undertaken by a team of local surveyors.
In normal circumstances, valuers are told that they must operate within a 25 mile radius of their home base. This ensures that you are using a surveyor who knows their own patch and will have a greater understanding of the property and their values.
Why is it a different approach then to desktops? Wouldn’t it be safer to use surveyors who actually know their area? These are professionals who have years of experience and have carried out 1000’s of inspections per year. They could undertake the exercise with a greater degree of understanding of the areas involved.
This is not to say that desktop valuations are the only solution. In some instances, it is still possible for normal methods to be employed.
When booking a survey or valuation during these unprecedented times, we are taking great care when it comes to the safety and health of clients and surveyors. These are only being undertaken in accordance with government guidelines:
- Active surveyors will be in good health and exhibiting no symptoms of Covid-19.
- Inspections are only permitted if the property is vacant or the occupants are also showing no signs of Covid-19.
- There is no need for physical contact during a home inspection and the 2 metre rule is strictly employed.
- Surveyors will use gloves when undertaking the inspection which will be disposed off directly after leaving the property.
Should you wish to discuss the various options available to you, then please contact Watsons and speak directly to our Chartered Surveyors.
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