Walters Estate Agency Ltd · IG6 3SZ
RECEPTION DINING HALL STAIR KITCHEN

Sheet 02 · Walters Estate Agency Ltd, Ilford

How a figure is arrived at

A valuation appointment is an hour at the property and an afternoon at the counter afterwards. This sheet sets out what is looked at, what is read beside it, and what reaches you once both are done.

01The hour at the property

The appointment is kept by somebody who works the counter, so the person who sees the property is the person who will answer the telephone about it afterwards. The visit runs through the property once at your pace, then a second time with a tape and a notebook, because the first pass is for understanding the place and the second is for recording it. You are asked what you would like the sale to achieve, and the answer is written down beside the measurements rather than kept in anybody's head.

Nothing is signed at the appointment. The figure is discussed with you while the evidence for it is still in front of both of us, and the branch would rather repeat a visit than give you a number over the telephone the same evening. Where a boundary, an extension or a shared drive raised a question, a second appointment is offered before anything is drafted.

02What is looked at, room by room

The schedule below is the order the second pass is taken in. It is the same order in every property, so that nothing is left out of one appointment because the last one was arranged differently.

The second pass, taken in the same order at every appointment
TakenWhat is recordedWhere it goes afterwards
ApproachParking, the way in, the state of the frontage and what the property is attached to.The opening line of the particulars, and the viewing arrangements.
Reception roomsEach room at its longest and widest point, the aspect, and what heats it.The room list, and the floor area worked from the measurements.
Kitchen and utilityThe run of units, what is fitted and staying, and what is being taken.The fixtures line, which a buyer's solicitor reads against the contract.
Bedrooms and bathroomsMeasurements, the number of each, and where a room is worked as a study.The room list, and the description a portal entry is drawn from.
OutsideThe garden, its aspect, outbuildings, and the boundary as you understand it.The outside paragraph, and any question put to your solicitor early.
ServicesThe boiler, the consumer unit, the meters and how the property is drained.The notes a surveyor's enquiries are answered from later in the run.

03The evidence read beside the property

An inspection on its own is a description. The figure comes from setting that description against evidence, and the evidence is named to you so that you can weigh it yourself rather than take a number on trust.

What is read after the visit, and the weight each carries
EvidenceWhat it isHow it is used
Comparable salesCompleted sales of properties of the same kind in the same district.Read first, because a completed sale is a figure somebody actually paid.
Properties on the marketWhat a buyer looking at yours this month can look at instead.Read as competition rather than as evidence of value.
The tenureFreehold, or the term left on a lease with the service charge last paid.Weighed where a short lease or a high charge would narrow the buyers.
Condition and worksWhat has been done to the property, and what is plainly outstanding.Set against the comparable, which was in its own condition on its own day.
The branch's own fileWhat the counter saw of the last sales in that street or that block.Read alongside the rest, and named as the branch's own record.

A figure discussed at an appointment is advice on what to ask, and the sale itself settles at whatever a buyer and a seller agree.

04Working an area between metres and feet

Particulars in this part of London are read by people who think in square feet and by people who think in square metres, so both are printed. The conversion below is the one the counter uses, and it is arithmetic on a figure you type: a floor area in square metres multiplied by 10.763910417, and a room run in feet and inches taken to metres at 0.3048 metres to the foot. It is a guide only, it measures nothing on its own, and the figures on a set of particulars are the ones taken at the property with a tape.

Type a floor area or a room run above and the working is printed here, line by line.

05What reaches you, and in what order

The appointment is the first of four things, and the other three follow it in writing. Each stop below is a document rather than a conversation, so there is a record of what was advised and when it was advised.

  1. 01At the propertyThe figure is discussed with you at the appointment, with the evidence for it named while you can see the rooms it refers to.
  2. 02The written confirmationWhat was advised is confirmed in writing, so that the figure you were given is not remembered differently by either of us.
  3. 03The terms of businessThe terms on which the branch would act are set out with it, including what is charged and when it falls due.
  4. 04The draft particularsIf you instruct the branch, the draft comes to you next and nothing is published before you have approved the wording.

Sheet 03 — what a set of particulars carries  ·  The office, and how a message reaches it

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