Shared Ownership

Foster Slater has been providing market valuation advice for shared ownership properties for over 10 years.

The instructions are to provide a Market Value of the shared ownership property and can be for a range of purposes.

Most commonly the market approach is used in order to find the Market Value. This entails in-depth analysis of the comparable evidence gathered using subscription-only property portals, verifying transactions with Land Registry records, using our previous knowledge and valuation research and speaking with a range of active, local agents.

The valuation can be required for shared ownership resale, whereby a value is determined in order to allow another shared owner to acquire the property.

Staircasing valuations are often provided when a shared owner wishes to increase their percentage, meaning a value is require in calculating the premium paid for this increase in the interest.

We also provide valuations for other schemes and initiatives, such as Right to Buy and Right to Acquire. While the schemes often encompass a discount to the Market Value, our valuation is done at Market Value, with any discounts applied thereafter.

These valuations are RICS “Red Book” compliant, and the firm takes pride in ensuring that all due diligence is carried out thoroughly. This entails carrying out an inspection of the property in order to gain insight into the nature, features, condition and layout of the property together with notes on the local surrounding area and measuring the property in accordance with RICS Property Measurement (2nd Edition), which ensures compliance with International Property Measurement Standards.

We are currently on the valuation panel for several housing associations. Any shared owner wishing to instruct the firm should check that the housing association will accept the firm’s valuation, in order to avoid any unnecessary costs.