Property Valuation & Surveys
Surveys and valuations of residential property combine property market expertise with an understanding of buildings. These two distinct but connected areas of competence are core to the work of professionals in this area, who are appointed to advise on the market and condition of a property.
The Valuation Report is the simplest type of property inspection. Unlike estate agents’ valuations, surveyors’ valuation reports are legally binding. Inspections for valuation reports are relatively limited, commenting only on any obvious major defects that have a significant bearing on value.
Where valuations are for matrimonial or tax purposes, in some cases additional work may be required, particularly where reports are for use in legal proceedings or where court appearances and expert witness work are anticipated.
We undertake Market Valuations for a variety of reasons, primarily for institutional lenders for mortgage purposes, and for private clients, typically for probate and matrimonial disputes. The reports are normally 2 or 3 pages in length, and include a professionally calculated BCIS rebuild cost insurance valuation. Market valuation figures are carefully researched and calculated with reference to at least 3 recent local sales of comparable properties.
As Chartered Valuation Surveyors and RICS Registered Valuers we are often called upon to undertake expert witness valuations, prepared under Civil Procedure Rule 35, for court hearings, to assist the judge in reaching a decision. We are also appointed by Bank and Building Societies to undertake forensic investigations where fraud or negligence is suspected.