What is a Red Book Valuation?
A RICS Red Book valuation is a ‘gold standard’ formal, evidence-based valuation.
I am able to provide Red Book market valuations alongside Level 2 and Level 3 surveys.
I am also able to provide standalone Red Book valuation reports for residential property in support of the following:
- Sales to Family or Friends
- Help To Buy
- Shared Ownership
- Probate and Inheritance Tax
Pricing is dependent on the age, size, condition and complexity of the property but costs typically range between £259 and £799 (no VAT to pay) for a standalone valuation report. Costs can be higher for exceptionally complex or unusual properties. Standalone valuation reports are delivered a maximum of 3 working days after the inspection.
Market valuations that accompany a Level 2 or Level 3 condition survey are charged at £165.
Please Contact Me for a fast, free, no-obligation Red Book valuation quotation.
The Valuation Process
I am a RICS Registered Valuer and, as such, you can be sure you will receive a high-quality valuation that adheres to strict Red Book standards.
The valuation itself includes an inspection of the property to identify features and defects that affect value, measurement of the property and analysis of recent sales of comparable properties, together with other relevant information, in order to arrive at a valuation.
Where required, a reinstatement cost can also be provided together with the valuation. This is useful for insurance purposes. The reinstatement cost is an estimated figure based on current re-building costs, calculated using figures supplied by BCIS. The reinstatement figure may be higher or lower than the valuation itself and has no bearing on what the property may be bought or sold for.
Please note that a standalone valuation report is not a condition survey and should not be relied upon when deciding whether to purchase a property
