What is a RICS Red Book Valuation?
Whether you are buying or selling a home, applying for a mortgage, applying for probate or working through a property dispute, you could need a RICS Valuation.
A RICS Valuation is an independent professional assessment of value. It should not be confused with a market appraisal which might be undertaken by an Estate Agent.
The RICS Independent Valuation follows a strict set of guidelines, best practices, ethics and professional standards defined in the RICS Valuation Standards, often referred to as the ‘Red Book’. It considers a wide range of factors, with particular reference to recent market movement, the property’s condition but also intangible features.
The valuation report will often accompany a Building Survey following the Surveyor’s inspection of the property so the final valuation will be the result of considered assessment and a good appraisal of the actual current market value.
