Valuation

How it is used

British and international English; Americans say appraisal for the lender's report. An agent's free valuation helps set the asking price, a mortgage valuation is done for the lender, and a formal valuation by a chartered surveyor follows RICS standards.

Example sentences

1. We offer a free valuation if you're thinking of selling.

2. The lender's valuation came in lower than the agreed price.

Common collocations

• free valuation
• mortgage valuation
• valuation report
• carry out a valuation
• down valuation

Related terms

• appraisalA professional estimate of how much a property is worth, made by a qualified appraiser, often because a bank needs it before lending.
• market valueThe price a property would most likely sell for on the open market, between a willing buyer and a willing seller who both know the relevant facts.
• comparablesRecently sold properties that are similar in size, location and condition to the one being valued, used as evidence of its likely price.
• price per square meterThe price of a property divided by its floor area, used to compare homes of different sizes in the same area.

This word in other fields

The same English word can have a different meaning in another field:

• valuation · Entrepreneurship & Startups
• valuation · Finance & Banking