RICS Home Valuation – Red Book Global Standards
Value of a property
Determining the value of a property requires a wide consideration of information available including (but not limited to) the potential for alternative use, development potential, the impact of any tenancy or occupation agreements in place. Valuations are often required for a variety of purposes but anything for a purpose such as an application for a grant of probate, court proceedings, redemption of a Help to Buy Scheme loan or taxation will almost always need to be a valuation undertaken in accordance with the RICS valuation standards (more commonly known as the ‘Red Book’).
Red Book Valuation
If your solicitor, accountant or other professional advisors ask for a Red Book valuation – it is a full, formal report which can only be undertaken by a registered valuer with appropriate experience.
Valuation work is quoted on a per-job basis.