An estate agent's informal opinion of what a property might sell for, often obtained early in a case to give an indicative value. It is less formal (and cheaper) than a full valuation report from a surveyor, though the court may later direct a proper valuation if the value is disputed.
In Plain English
This is an estate agent's informal estimate of what your home might sell for. It is a quick way to get a rough idea of value before the court asks for a more formal and expensive valuation.
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