Valuations
Red Book valuations by an RICS Registered Valuer
A Red Book valuation is prepared under the RICS Valuation – Global Standards. It is the form of valuation that third parties can rely on, which is why banks, HMRC, the courts and government bodies ask for it by name.
"Red Book" refers to the RICS Valuation – Global Standards, which set out how a valuation must be carried out, evidenced and reported. A valuation prepared to those standards states its purpose, its basis of value, the date of valuation and the assumptions made, so it can be relied upon rather than merely read.
Valuations are prepared by James Buckingham, RICS Registered Valuer, member number 5044356. He inspects the property himself and signs the report.
Registered Valuer status is monitored by RICS. It is the mark to look for when a valuation has to satisfy a lender, HMRC, a court or a trustee.
Purposes
What the valuation is for
Pre-purchase valuation
An independent opinion of market value before you commit, separate from any lender's or agent's figure.
Matrimonial and separation
Valuations prepared to Red Book standards for use between parties and, where needed, in court.
Probate and estate administration
Valuations of property at the date of death, prepared for HMRC and for the estate's records.
Taxation
Valuations for tax purposes, including capital gains and inheritance tax computations.
Help to Buy redemption
Valuation reports for redeeming a Help to Buy equity loan.
Building insurance reinstatement cost
Assessment of the sum needed to reinstate the building, so cover is neither short nor wasteful.
Market rental valuation
Rental valuations for landlords, including rent review and letting decisions.
Process
How a valuation runs
- 01
Terms of engagement
The purpose, basis of value and date are agreed in writing, with a fixed fee.
- 02
Inspection
James inspects the property and records what the valuation relies on.
- 03
Evidence and analysis
Comparable evidence is gathered and analysed against the property.
- 04
Reported valuation
A Red Book report is issued, followed by a call to talk it through.
Need a valuation for a specific purpose?
Tell James what the valuation is for and who needs to rely on it, and you will get a fixed fee and a timescale.