In commissioning a valuation or commercial survey of a property you may simply see this as a means to an end. Consequently it is easy to simply focus on the end figure and whether or not it fits in with your expectations. But how was the assessment of market value derived? Does this stand up to scrutiny? Can you trust the advice provided?
Ultimately an opinion of market value is just that – an opinion. However you can be assured that the team at CSD are all qualified chartered surveyors, accredited under the RICS Registered Valuer scheme.
RICS Valuation or Commercial Survey
All of our valuations are prepared in accordance with RICS Valuation – Global Standards January 2020 incorporating IVSC International Valuation Standards, Commonly referred to as the “Red Book”. This means that our reports provide comprehensive information that is set out in a consistent format under salient headings for ease of reference. We provide a synopsis of the location and description of the property, including a summary of the floor areas taken from our measured survey.
We will highlight any specific defects or areas of concern noted from our inspection and whether we recommend specialist advice is sought in relation to any disrepair. We normally enclose a copy of the Title plan and provide a comment on the Land Registry Title. Where appropriate we also enclose a summary of any tenancy information, highlighting any specific issues.
As part of our due diligence we establish the property’s Rateable Value, ensure that is has a valid EPC and research its planning history. We also check for any potential flood risk and other environmental issues, providing comment as appropriate.
Our reports include schedules of comparable evidence with accompanying analysis and market commentary. Our valuation rationale is set out in a clear and methodical way so that it can be clearly understood how came to our conclusions and highlighting any specific action points that might have a positive or negative impact on value and sustainability.
This blog article was written by Peter Gregory our Senior Surveyor.
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This post was written by Liz Graney