Valuations
Private Valuations
In addition to providing surveys for homebuyers, we are also able to provide RICS compliant valuations for other purposes such as Help to Buy, Shared Ownership and tax purposes for example for Inheritance Tax and Capital Gains Tax.
A valuation is a formal professional assessment of the value of a property, undertaken by a RICS registered valuer. The valuations comply with RICS global standards (known as the “Red Book”) underpinned by the regulatory Valuer Registration Scheme, ensuring they are trusted by professionals across the industry.
Valuer Registration is a risk monitoring and quality assurance programme which checks compliance with the RICS Red Book.
Why use a Chartered Surveyor?
Chartered surveyors are regulated by RICS and must hold recognised qualifications and experience. Only members and fellows of RICS are allowed to call themselves ‘chartered’ and use MRICS or FRICS after their names; both labels are hallmarks of professional excellence on an international scale. This accreditation means they’ve been trained to meet rigorous standards and are regularly audited to maintain quality and compliance.
We are RICS registered valuers who have been providing mainstream valuation advice to mortgage lenders and private individuals for many years. Whilst Bricks and Mortar Surveys (Wessex) Ltd does not act for lenders, this understanding of the lending and valuation industry forms a background to the valuation advice we can provide as part of our service to you.
When to Obtain a Valuation
A market valuation may be required if, for example, you are repaying an equity loan under the Help to Buy scheme if selling your home, or if you are looking to buy additional shares in your shared ownership home – known as “Staircasing”.
A valuation will also be required for probate/inheritance tax purposes, tax planning, matrimonial or legal disputes.
The valuation will need to be carried out by a RICS qualified surveyor, in accordance with the “Red Book” – RICS Valuation – Global Standards.
The valuation follows official RICS guidelines and is suitable for legal, tax, and financial purposes.
How to go About Obtaining a Valuation
The service starts with a conversation to establish the purpose of the valuation and some details about the property. Once a valuation has been instructed, an appointment is made for an inspection and the valuation report will be sent usually within 4 working days of the inspection.
A Red Book valuation report includes a full description of the property, from its size and condition to its location and surrounding area. It explains how the valuation was carried out, what comparable evidence was used, and any assumptions or limitations applied.
The report states the surveyor’s opinion of the property’s market value, the amount someone would reasonably pay for it on the open market.