Question 1

What is the difference between a valuation and an appraisal?

Accepted Answer

A valuation is a formal legal document used for taxes and loans. An estate agent appraisal is just a guide for a listing price. Agents are not usually qualified surveyors, so banks will not accept their figures.

Question 2

Is property sourcing legal and regulated in the UK?

Accepted Answer

Yes, it is legal but firms must follow strict rules. They must register for money laundering supervision and join a redress scheme. Always check they have professional insurance before you start.

Question 3

How much does home staging typically cost in the UK?

Accepted Answer

As a guide, a basic advice visit costs around £200. Full furniture rental for a house can range from £2,000 to £5,000. Ask your professional for a fixed quote based on your home size.

Question 4

How much does professional photography cost?

Accepted Answer

As a guide, expect to pay around £100 to £300. The price depends on your location and how many rooms you have. Some estate agents include this in their package, so ask them first.

Question 5

Can I get a mortgage on an auction property?

Accepted Answer

Yes, but you must work fast. Standard lenders often take longer than the 28 day deadline. It is best to have an agreement in principle ready. Many buyers use bridging loans if the property needs big repairs.

Question 6

Is a market appraisal the same as a RICS valuation?

Accepted Answer

No, an appraisal is a guide for selling provided by an agent. A RICS valuation is a legal report used for things like probate or divorce. Appraisals are usually free, but you must pay for RICS reports.

Question 7

Is a floor plan a legal requirement?

Accepted Answer

It is not a strict legal requirement to have one. However, the law says you must provide honest information to buyers. Most agents say listings with plans get many more views and clicks.

Question 8

What is the average fee for a high street agent?

Accepted Answer

As a guide, most agents charge between 1% and 2% for a sole contract. If you use many agents, it can rise to 3%. Professional fees usually have 20% VAT added on top.

Estate Agents & Auctions

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