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Gloucestershire Business News

Perry Bishop finding the true value of your home

The lifting of coronavirus restrictions is on the horizon but you do not have to wait any longer to receive an accurate valuation on your home.

Perry Bishop, one of Cheltenham's leading estate agents, is offering at-risk customers contact free virtual valuations, as well as in-person visits with all Covid safety guidelines.

So if you are interested in finding the value of your property, unsure about any online estimate or interested in the next step in putting your property on the market, Perry Bishop can meet your needs virtually and provide an initial video viewing for buyers ahead of following up in person.

Many have wondered about the value of their house during the pandemic but Perry Bishop has warned about relying on online home valuations.

Sales director Gavin Wallace said: "The risks of relying upon an online property estimate are significant.

"We would always advise anyone considering selling their home to consult an experienced estate agent based in their area.

"We have unique local knowledge and insight, which is crucial in order to estimate correct property values."

He continued: "Property estimate websites rely on averages, which can inflate some prices dramatically and undervalue others.

"This misinformation can lead some to make false financial judgments with serious consequences".

The basis of estimates displayed on websites is primarily data freely published by the Land Registry, such as the price property has been sold for and basic information such as tenure (freehold or leasehold), property type and an indication if the property is new.

Estimated values make assumptions about price trends and may look at other properties sold on the same street or nearby.

The approach of an estate agent or chartered surveyor is different - the Royal Institute of Chartered Surveyors expect surveyors to follow strict standards when valuing properties which are followed by estate agents to conduct their own appraisal.

Firstly, the surveyor is required to conduct a visual inspection of both the interior and exterior of the property to assess the size, condition and location of the property.

They would be required to identify a minimum of three comparable properties in the same location which have sold in the last six months which must be similar in size and condition.

Experience of the local property market is essential to evaluate the impact of current demands and local factors, such as future developments nearby, which can have a dramatic impact on the likely resale value.

Perry Bishop offers virtual tours with all first viewings replaced by interested parties being sent a video tour of the home they are interested in before moving on to a viewing in person.

Perry Bishop Cheltenham finds this a very useful way to bring the serious buyers to the fore.

The seller can take the video on their own mobile, possibly providing a commentary, showing highlights of their home.

To book a valuation with Perry Bishop, call Gavin Wallace on 01242 246980 or email GavinWallace@perrybishop.co.uk.

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