Red Book Valuations
We are an independent RICS Regulated practice, with RICS Registered Valuers undertaking Valuation Reports on behalf of our clients, that are carried out in accordance with the current RICS Practice Statements, Guidance Notes and Standards. These are generally known as Red Book Valuations.
These red book valuation reports provide all the necessary detail to enable the reader to understand the macro-economic circumstances in which the report has been compiled, whilst also detailing the property(ies), its size, photographs, factors considered in assessing the value and the location (including an Ordnance Survey based Land Registry plan). There will be relevant appendices incorporated.
Any assumptions that have been made will be explained, along with a comprehensive overview of comparable evidence, highlighting similar properties currently being marketed and recently sold / let within the area, to support the freehold or leasehold interest values provided.
What are Red Book Valuations?
If you are a new business, you might be wondering ‘what is a red book valuation?’
The Red Book Valuation Reports provided are the formal type accepted by HMRC for taxation purposes (including the likes of Probate and Capital Gains Tax purposes), Pension Trustees and SIPP / SASS providers, for property related Pension and SIPP / SASS schemes, also Accountants for company accounts purposes.
We also undertake valuations as a Single Joint Expert (for matrimonial and other proceedings), whereby we prepare valuation reports in accordance with the requirements of
Part 35 of the Civil Procedure Rules 1998 (CPR35) and its associated Practice Direction (PD35).
For more information on red book valuations, please don’t hesitate to get in touch with a member of our team..