RICS Red Book Valuations
Whether you’re curious about the current value of your home or require a professional property valuation for legal or financial purposes, our RICS registered valuers are here to help.
As part of our service, you can expect a detailed and jargon-free report for any type of residential property, from modest apartments to a grand, historic building.
With every valuation, we combine the latest industry technology and data-collection methods with RICS professional standards to give you a true market value.
What’s included in our RICS Red Book Valuations?
Property inspection including photographs (where necessary), detailed reporting and property laser measurements in accordance with the International Property Measurements Standards (IPMS).
Data collection consisting of age, size and location of the property, as well as any planning, legal or environmental matters that may affect the property’s market value.
Valuation analysis detailing the method of valuation, market commentary, summary of comparables and a confirmed market value in accordance with the RICS Registered Valuer Scheme.
Once your valuation is complete, you’ll receive a clear and detailed report that adheres to the RICS Red Book Valuation Standards.
FAQs
What is a RICS Red Book Valuation?
Often confused with ‘market appraisal’, a Red Book Valuation is a formal opinion of value conducted by a registered valuer under the RICS Registered Valuer Scheme. As part of the valuation process, the registered valuer is required to work within the strict mandatory practices set out by RICS, otherwise known as the ‘Red Book’.
Why would you need a RICS Red Book Valuation?
A Red Book Valuation is required whenever you need a formal valuation for legal proceedings or tax purposes. It might also be required for:
- help to buy valuations
- right to buy valuations
- shared ownership valuations
- staircasing equity valuations
- properties being sold by charities
- court proceedings, such as divorce
- calculating probate or capital gains tax
- financial reporting and loan security
- assessing market value as part of a Level 2 or Level 3 survey
What’s the difference between a RICS Red Book Valuation and a market appraisal?
Where a market appraisal provides a general estimation of a property value, a Red Book Valuation follows a strict set of professional standards to arrive at an accurate valuation.
Who might need a RICS Red Book Valuation?
A Red Book Valuation is often requested by a range of private and institutional clients, including:
- banks
- charities
- developers
- homeowners
- housing associations
In many instances, Red Book Valuations will be requested by courts, solicitors and HMRC as documented proof of property market value.
How long does a RICS Red Book Valuation last?
A Red Book Valuation is valid for three months, but can be extended a further three months if a request is made within the first two weeks of expiry date.
Our team are registered valuers under the RICS Registered Valuer Scheme.
If you’d like to book your valuation or have a question about our Red Book Valuation service, contact us today on 01273 031646. We’re here to help.
Contact Us
Tate Surveying Services,
Freedom Works, Unit 7 Hove Business Centre, Fonthill Road, Hove, BN3 6HA
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