What is a Valuation?

A valuation provided by a Chartered Surveyor is a formal written document. It gives a simple description of the property being valued and takes into account the location of the property, its accommodation, its condition and will usually reflect readily apparent defects which could also affect the value.

How is a value defined?

Market Value is defined by the Royal Institution of Chartered Surveyors valuation manual known in the profession as the ‘Red Book’. It provides guidance to the Chartered Surveyors instructed to carry out a valuation. Valuations will be needed under a variety of circumstances, including:

• Mortgage Valuations
• Insurance Valuations
• Valuations for Purchase and Sale
• Valuations for Taxation purposes
  – Capital Gains Tax
  – Inheritance Tax
  – Probate
• Matrimonial Valuations
• Leasehold Reform Act Valuations
• Council Tax Valuations

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