A Residential Valuation involves a brief inspection of the property to enable the surveyor to comment on the current "Market Value" as defined by the RICS. This is defined as "The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arms-length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion". This inspection is not a survey and does not make any detailed comments on the condition of the property although defects of a serious nature which would affect the value will be considered along with factors such as location, environment, and comparable sales evidence.
This type of inspection is suitable for all ages of property. Valuation reports are required for a variety of purposes such as lending (mortgage), tax liability, probate, relocation, and matrimonial disputes. A valuation report should however not be relied upon when deciding whether to purchase a property.
Commercial property valuations are required for a variety of purposes. We can provide comprehensive valuations and surveys tailored to our clients' needs on a variety of commercial properties including retail, offices, and industrial units.
Our commercial valuation services include:
Valuations for loan security
Valuations for taxation/accounts
Development and investment appraisals
Expert Witness reports
Diminution in value
Strategic rental and capital valuation advice
Valuations for corporate owners and occupiers
This is an assessment of the property's estimated current reinstatement cost in its present form and is normally undertaken for insurance purposes. The figure includes outbuildings, boundary walling, site clearance, and professional fees, but excludes VAT (except on professional fees). This is an estimated figure and is based on current re-building costs which are updated and supplied to us by the RICS. The figure may be higher or lower than the Market Value and has no bearing on what the property may be bought or sold for.
If you think you may be over or under insured, contact us and we will be happy to advise.