RICS Valuation Survey
RICS Valuation Survey is a report made by a registered valuer that informs about the actual value of a property. Thus, it is a very useful tool to help you avoid frauds and bad purchasing decisions.
The report should follow the Redbook standard guidelines. As a result, it is a standardized type of report that even allows you to compare the value of several properties. This may be useful when, for example, distributing a legacy.
Some common cases in which you may need a RICS Valuation Survey include:
- Divorces
- Applying to Help to Buy Schemes & Shared Ownerships
- Probate
- Mortgages
Notice that a RICS Valuation Survey will not inform about futures costs or investments related to the condition of the property that you would likely need to address after the purchase. In other words, it informs about the value of the property in its current condition.
If you do not agree with the result of the report, you can try to prove that similar properties have been sold recently for a higher price.
When asking for these reports, it is important that you seek an independent professional. Do not let other parties suggest who you should hire. Make your own choice so you can be sure there is not a conflict of interest. We can help you with the RICS Valuation Survey you need!