Property Valuation

Although a “mortgage valuation” is designed to satisfy a “Lender” that the house you want to buy with a loan is a sufficiently valuable asset that can be sold to repay the loan should you, the borrower, be unable to keep up repayments in the future, it can also help you decide if you are paying the right price for your French property.

A more concise valuation may be required when dealing with some French authorities, for tax and inheritance reasons. In this case we will prepare an “Independent Market Value” report.

Definition of Market Value (PS 3.2, RICS Valuation Standards 6th edition):
The “Market Value” is the estimated amount for which a property should exchange on the date of valuation between an educated buyer and a reasonably motivated seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without undue influence.

The Valuer’s job is to take account of the condition of the building. There is no obligation to carry out more than a superficial inspection. Although you, as purchaser, are owed a “duty of care”, the report provides you with little useful information as a prospective owner in respect of condition and structure.