In need of a property valuation? An RICS registered Chartered Surveyor will follow the Red Book standards and provide a trusted, unbiased valuation report. The Red Book was issued by RICS (Royal Institute of Chartered Surveyors) in a bid to emphasise their commitment to promote and support the highest standards in valuation delivery worldwide. Here at Morgan Sloane, we are a team of independent, RICS registered Chartered Surveyors who follow Red Book standards. Interested in finding out more about a Red Book valuation? We’ve compiled some information on what Red Book Valuations are, how long they last and the benefits associated with a Red Book Valuation.
What is a Red Book Valuation?
A Red Book Valuation is a professional valuation report of property or land that has been conducted by an independent, RICS registered Chartered Surveyor. In order to be classed as a Red Book valuation, the surveyor must be registered with RICS. It’s also important that the surveyor is a member of the Valuer Registration Scheme (VRS). When you choose to appoint a Chartered Surveyor to conduct a Red Book Valuation, you can expect to receive an accurate, trustworthy and unbiased report.
What does the Red Book contain?
The Red Book contains a number of mandatory rules, best-practice guidelines and other useful information that all RICS registered surveyors must follow. Whilst the Red Book does not tell a valuer how to value a property, it clearly sets out the standards that should be followed. This ensures that the client receiving the valuation report will receive a well-considered, accurate report.
How long does a Red Book Valuation last?
A property, or land, valuation report will be valid for three months once it has been issued. We advise you to commission a Chartered Surveyor only once you’re in the position to have your land or property valued.
Benefits of a Red Book Valuation
You’ll be pleased to know that there are plenty of benefits that come with a Red Book Valuation. You can be certain that all valuations will be completed to the highest standard and will display clarity, accuracy and are designed to stand the test of time. This means that valuations can be referred back to and understood in the future which is particularly useful for Inheritance and Capital Gains Tax purposes. You’re likely to find that banks also heavily rely on Red Book Valuations to provide them with utmost security.
Can Morgan Sloane Help with Red Book Valuations?
Morgan Sloane is an independent firm of RICS registered chartered surveyors. We adhere to the Red Book standards and ensure that all of our reports are accurate, impartial, cost effective and time efficient.
Interested in finding out more about how we can help you with a Red Book Valuation? Get in touch
with our team today.