The help to buy valuation lasts for three months after which you can extend the valuation for a further three months with a desktop valuation.
This is provided by the original surveyor who is not required to re-visit the property but is required to re-confirm the valuation. If the valuation has changed then, further comparable evidence with be required by Target.
The desktop valuation must be sent to Target within 2 weeks of the original valuation expiring and will only be valid for a further 3 months.
The criteria for this Desktop Valuation are:
- The Valuer must refer back to the original report and confirm the updated report is a Desktop Valuation.
- The Valuer must be the original surveyor from the first inspection. They do not need to re-inspect the property, but they must make reference to this original report.
- The Valuer must provide at least 6 comparable properties and sale prices within the last year if the property has increased or decreased in value. If 6 are not available, your surveyor must state this clearly. Comparable properties used must be a similar house type. The report must have a new date on it and be signed by the Valuer.
- The report must be on headed paper and provided in a PDF format or a non-editable document.
The cost of our help to buy desktop extension is £60 inc vat.
RJHarmer Ltd is a RICS Registered valuer.