Valuations are formal written documents giving a simple description of the property being valued, commenting on location, construction, accommodation and any special features, together with its general condition as noted from a cursory inspection. It is not a survey.
Property valuations are carried out for the following purposes:
- When required under the Help To Buy or other similar scheme
- Shared ownership purposes, when selling or purchasing an additional share
- Probate/Inheritance tax purposes
Peter Collins is an RICS registered valuer and valuation reports are prepared in accordance with the RICS Valuation Standards, known in the profession as the ‘Red Book’.