FAQs

Depending on the type of property and your requirements, there are three different types of surveys that we can carry out. We have briefly outlined each of these surveys below to give you an idea of what you might need, but our friendly team are always on hand to offer advice and recommend the right survey for your property. If you only need a survey for a specific area of the property, then we can also provide a bespoke service that provides a report tailored to your needs. Level One RICS Condition Report: For typical residential properties that look to be in reasonably good condition. The report will give an overview of the property’s condition, a summary of any risks to its condition, and any advice for your legal adviser. Level Two RICS Homebuyer Report: For typical residential properties that look to be in reasonably good condition, but for those who would like a more extensive report. This includes all the information contained in a Condition Report, along with a list of any potential problems that may affect the property, advice on repairs and maintenance, and any potential dangers. It will also include any legal issues and information on the location, local environment and the recorded energy efficiency if available. Level Two RICS Homebuyer Report with Valuation: This includes all the above, but also comes with a professional valuation from our RICS registered chartered surveyors. The valuation will include their opinion on the property’s market value, along with any factors that could affect its value and an insurance reinstatement figure. Level Three RICS Building Survey: Our most extensive survey, this is highly recommended when purchasing older properties or renovation projects requiring major works. The report will give you a detailed analysis of the building’s structural condition, including advice on defects, repairs and maintenance.

In addition to our market appraisals, our team of RICS registered valuers and chartered surveyors can provide written valuation reports. These can be used for a variety of formal purposes, including tax assessment, matrimonial purposes, internal transfers and charitable disposals or acquisitions. Speak to our friendly team about your situation and we will guide you through the valuation process to make sure you have everything you need.

Auction can be a valuable method of sale for the right type of property or land, with properties sold at auction often achieving fantastic end results. In general, auctions are ideal for properties that would appeal most to cash buyers and the investment market. These types of properties can be difficult to purchase with a mortgage, such as renovation projects or properties with a unique construction. Selling at auction allows these unique assets to achieve the best possible price in a competitive environment, with greater certainty of a prompt completion for agreed sales.

If you are purchasing a property in England, then you may need to pay Stamp Duty Land Tax. The amount you pay will depend on the purchase price, the reason for purchase, and how many other properties you own. In Wales, the buyer may need to pay Land Transaction Tax. Again, the amount will depend on the purchase price, the reason for purchase, and how many other properties you own. For more information, visit the government websites for England and Wales. Your solicitor should also be able to offer advice.

We will market your property locally, regionally and nationally using several different methods for maximum exposure. Our first step is to market your property in our five offices throughout the West Midlands and Wales. Using our in-house database of buyers, this provides us with a list of potential buyers and what they are looking for, allowing us to quickly find suitable matches for your property. We will then advertise your property on our own website, as well as leading online property portals, Rightmove and OnTheMarket.com.

The fee charged to sell your property is normally a commission based upon a percentage of the agreed sale price. However, in some cases, we can arrange to charge a fixed fee or a Buyer’s Premium. This fee covers all the costs involved in finding the right buyer for your property, including our professional marketing services on several leading online property portals. For more details, please contact your local branch to arrange an appraisal. Our valuers will then run through your available options so that you can make an informed decision about what is right for you.

Some of our auction properties are offered for sale with a Buyer’s Premium. This means that the buyer will need to pay an additional amount in addition to the purchase price. For properties offered for sale at auction by Bowen, this figure is usually circa 2.40% of the purchase price. However, the exact amount will be stated in the auction legal pack.

Since everyone’s property and personal situation are different, the time it takes to find the right buyer can vary drastically. However, if your property is appraised and priced correctly, then on average it can take between four to six weeks to agree a sale. If your buyer then needs to apply for a mortgage, contracts will normally be exchanged within four to six weeks after you accept an offer. Completion will then take place two to four weeks later. This means that on average, it can take up to 14 weeks to complete the sale of a property. Keep in mind that multiple other factors can affect the speed of completion, including the current market conditions, chains and personal circumstances. At Bowen, we have a team who are dedicated to streamlining the purchasing process. This means we will do everything we can to keep things moving, liaising with our sellers and the buyers’ solicitors. Throughout the sale, we will be in touch regularly to keep you fully informed of any progress so you can rest assured we are doing all we can to get your sale through as quickly as possible.

Valuations are carried out by our qualified chartered surveyors who will provide you with a written report. This report can be used in court and for other formal purposes, such as mortgages, tax assessments and matrimonial purposes. When carrying out a valuation, we will first take into account the most recent prices that other similar properties have sold for. We will then factor in the current market to work out how the price will have since changed, as well as any structural issues or repairs. This is an objective process based on evidence. On the other hand, a market appraisal is an estimate of how much your property could potentially sell for in the current market with the right buyer. This is what you will receive before putting your property up for sale, giving you a clearer idea of what your asking price should be.