How Do We Value Your Home?

An in-depth guide to our valuation process.


Three Things You Need To Know

We wrote this article to show you exactly how our Valuation Process works - but there are three crucial things you need to know about it first.

  1. It’s Free - Our valuation process is completely free – it won’t cost you a penny. 
  1. There’s No Obligation - If we value your home, there’s no obligation for you to accept. 
  1. It’s designed to be Fair, and Accurate - Some homeowners are concerned that a company will try to under-value their house to justify making you a lower offer. While this may be true for some companies, it’s not in our interest to work that way, and we don’t work that way.

Simply put, we’re here to buy property – we have the funds available to buy, and we want to buy as many houses as possible. And we know that the more money we can offer for your house, the more likely it is that you can accept our offer.

After all, if our offer is too low, you can just reject it and walk away at no cost, and we’d lose the business.

So our valuation process is set up to try and build a true picture of how much your house is worth, so that we can offer you our best price possible, and we’ve got the best chance possible of agreeing a sale with you.


Our 5-Step Valuation Process

There’s a simple 5-step process to us getting your home valued, and making you a formal offer on your home in the next few days.

Scroll further down the page to read more about each step in detail.

  1. Free Online Illustration - First, our free tool gives you an idea of what our offer may be, so you can decide whether or not to get in touch
  2. Desktop research to verify the illustration - Our teams verify the details from the illustration to check for any discrepancies
  3. Two local estate agent valuations - We instruct two local estate agents near you to visit your home, at a time to suit you, to value your home and provide feedback
  4. Final research phase - We process the agent feedback and do more research to formulate our offer
  5. We make our formal offer - We’ll contact you to go through the findings, and make our Formal Offer for you to consider.


Free Online Offer Calculation

The best thing about our service is that it guarantees you a simple, certain and convenient house sale. The only drawback is that we buy at a price less than its full value.

How much less? We developed our free illustration tool to answer just this. You can use the tool without entering any personal information. Just provide a rough estimation of what you think your property may be worth, along with a couple of other bits of information about monthly expenses, and we’ll be able to give you an illustration based on your figures.

One of the useful things with the tool is it compares the final price you receive from us to what you’d end up with after selling through a local estate agent – and includes a lot of the indirect costs not everyone considers when thinking about the cost of selling.

At this point, if you’re not happy with the figure on the illustration then there’s no need or pressure or obligation to go any further with us. It was worth a look!


What do I do if I’m happy with your illustration?

If you’re happy with the figures on the illustration then the tool invites you to get in contact, and asks for a few bits of information – name, address and phone number – so one of our team can take a look at your property online, and contact you to start discussing things further.

Or, if you want to speak with someone right away, you can call us directly to pick things straight up with us.


Desktop Research

Once we’ve received your details one of our team will contact you to start going into more detail with you. We’ll spend some time on the phone with you getting information about your property, its internal condition, and about the local area.

Valuation Software
We then use sophisticated valuation software to examine your local market, area, and recent comparable house sales nearby. This “desktop valuation” is useful for seeing how accurate the figures from the original illustration are likely to be.

Checking The Illustration For Accuracy
If there are any red flags and it looks like our offer might be quite a way away from the original illustration figure then we’ll let you know – and you can decide whether or not you’d like to proceed any further. Again, this conversation and research is all done free of charge for you and with no obligation – so you can change your mind at any point.

Hopefully, the information we find online will help us give you a better idea of what our formal offer is likely to be, and if you’re happy to proceed further then we’ll move to Stage 3 – the local Estate Agent valuations.


Two Local Estate Agent Valuations

If you’re happy with the ballpark figure discussed up to this point, we begin work on making you a formal offer. A formal offer is the figure the sale goes through at – the actual amount that reaches your bank account on completion, minus any mortgage you have to pay.

To do this we need to establish the “Full Market Value” of your property. This is the rough price you’d generally expect to achieve after around 4-8 months if selling on the open market with an estate agent. The offer we make is based on this figure – so we need as accurate an idea as possible of what your home would likely sell for on the open market.

To get this accurate valuation, we instruct two local estate agents from your area to meet you at your property at a time suit you, have a quick look around, and to complete a valuation report for us.


Why do we use local estate agent valuations?

  1. Fair and Impartial - Using independent agents ensures a fair, impartial valuation. Some house-buying or part-exchange companies send out sales reps or their own “valuers” to view your house – but this creates a conflict of interest. So we use independent, local estate agents only.
  1. Local Experts - Local estate agents are the local experts. There’s been a rise in online estate agents over the last few years, and while their fees are less there’s still no doubting that local high-street agents have the best local market knowledge – and that’s what’s most important in the valuation process.
  1. Familiar To You - The agents who come to visit will be locally known, you’ll be familiar with seeing their boards around time, and you may even have met them before. It’s much nicer meeting someone local at your home rather than a sales rep from elsewhere in the country.


What happens at the valuation appointments?

Each appointment will only last around 15 minutes.

The estate agent will arrive at your home and introduce themselves, then spend a bit of time walking through your home.

The way property valuations work is they’re all based on “sold comparables” – which are homes nearby that have recently sold and share similar characteristics with your own. So the agent will be getting familiar with your home, gauging its size and condition and so on, and noting how it compares to other recent sales.

They’ll take a few pictures of your home as well while they’re there, and within 15 minutes or so they’ll say their goodbyes and head back to their office.

Back at their desk they’ll spend some time researching similar comparable sales, and producing a report for us showing what they think the property is worth, and why.

Once they’re finished, they’ll send their report through to us, along with any photos taken.


Final Research Phase

Once we receive the feedback from both agents, we’ll compile it in our software system and review the pictures taken.

We can assess the quality and credibility of each valuation, look at the comparables provided, and take note of parts of their reports that are of particular interest (for example, that the market is functioning particularly well at the moment, or that properties in your area are particularly of higher or lower demand).

We spend a great deal more time fact-checking the information the agents have provided, and our final offer is signed off by one of the underwriting team. Once that’s done, we’re able to contact you to make our offer.


We Make Our Formal Offer

Once our underwriters have reviewed all the feedback and signed off on a Formal Offer, we’ll be able to contact you to go through it in depth.

We’re completely open with the feedback we’ve had, including the two reports from the local estate agents, and we’ll explain the reasoning behind our offer.

Hopefully it’ll be in line with the figures previously discussed, and you’ll be happy with the figure we’re able to offer. In some circumstances the estate agents point out factors that may be unique to the local area or market or to the property itself and this can negatively affect the offer.

Again though, we’ll be completely transparent with all our findings and our reasoning, and once we’ve made our offer it’s up to you to decide what you’d like to do next.


Do I have to make a decision right away?

No – we’re not pushy and don’t need you to make a decision right away. The idea of our service is to put you back in control of your house sale – so there’s no pressure from us to make a decision quickly.

Once we’ve made our offer we leave it on the table, and you can contact us at your convenience to let us know if you’d like to go ahead. And if you don’t want to, just let us know that too – we can close your case down and part ways, it’s no problem. It costs you nothing to get this far, it’ll have caused very little hassle, and even if you don’t find your buyer from going through the valuation process with us, we guarantee you a good deal of insight and some helpful advice from our team of experts.


What if I do want to accept your offer?

If you’re happy with the offer then just let us know and we can move onto the next stage – getting the solicitors instructed and agreeing a completion date to work towards.

You can read more about what happens next on our Sales Progression page.


Frequently Asked Questions

If you’d like more information about our valuation process, we’ve provided answers to many of the common questions in the Valuations section of our FAQs page – it’s worth a read if you have further questions.

Alternatively, get started on Step 1 now with our Offer Calculator tool – it’s free, it only takes a couple of minutes, you won’t have to provide any personal information, and it’ll give you a great idea of how selling to us compares with selling through a traditional estate agent.