RICS Red Book Valuations
A RICS Red Book Valuation provides an independent assessment of a property’s value prepared in accordance with the RICS Valuation – Global Standards (the ‘Red Book’). Our experienced RICS Registered Valuers carry out valuations for a wide range of legal, financial and personal purposes, including probate, taxation, shared ownership, matrimonial proceedings and other formal requirements.
What Is a RICS Red Book Valuation?
A RICS Red Book Valuation is a formal property valuation prepared by a RICS Registered Valuer in accordance with the Royal Institution of Chartered Surveyors’ professional standards.
Unlike informal market appraisals or estate agent valuations, a Red Book Valuation is prepared using recognised valuation methods and provides an independent opinion of a property’s market value for a specified purpose.
Depending on your requirements, the valuation can be prepared for legal proceedings, taxation, financial planning, shared ownership, lease extensions and many other situations where an independent valuation is required.
What Does a Red Book Valuation Include?
Every Red Book Valuation is prepared in accordance with the RICS Valuation – Global Standards (the ‘Red Book’). Depending on the purpose of the valuation, this may include a property inspection, market analysis and a formal valuation report prepared by a RICS Registered Valuer.
Property Inspection
Where required, the property is inspected by a RICS Registered Valuer to assess its size, accommodation, condition, location and other characteristics that may influence its value.
Market Analysis
Comparable sales evidence, current market conditions and local property trends are considered when determining the property’s market value.
Independent Valuation
The report provides an independent opinion of the property’s value based on the agreed valuation basis and purpose of the instruction.
Professional Report
Your report is prepared in accordance with the RICS Valuation – Global Standards (Red Book) and clearly explains the valuation approach and conclusions.
Common Reasons for a Red Book Valuation
A RICS Red Book Valuation may be required for a variety of legal, taxation, financial and personal reasons, including:
- Probate
- Inheritance Tax
- Capital Gains Tax
- Shared Ownership
- Help to Buy
- Right to Buy
- Matrimonial proceedings
- Lease extensions
- Financial planning
- Asset division
- Legal disputes
Why Choose Viking Surveyors?
Our experienced RICS Registered Valuers provide independent property valuations across England for a wide range of legal, financial and private clients. Every instruction is handled with clear communication and reports prepared in accordance with current RICS standards.
Reports Delivered Promptly
We aim to provide your valuation report promptly once the inspection and valuation process have been completed.
RICS Registered Valuers
All Red Book Valuations are undertaken by qualified RICS Registered Valuers with extensive property valuation experience.
Clear, Practical Reports
Your report is presented in a clear and straightforward format, explaining the valuation methodology and conclusions.
Independent Family-Run Practice
As an independent family-run practice, we provide impartial advice with a personal approach to every valuation instruction.
Frequently Asked Questions
A Red Book Valuation reflects the surveyor’s opinion of the property’s value at the date of valuation. As property markets can change, the valuation should be considered a snapshot at that point in time. If significant time has passed or market conditions have changed, an updated valuation may be required.
Not necessarily. If the property is occupied, arrangements can usually be made with the owner, tenant or estate agent to provide access. We’ll discuss the most suitable arrangements when your valuation is booked.
This will depend on the type of property and the purpose of the valuation. Once we’ve discussed your requirements, we’ll advise how quickly the inspection can be arranged and when you can expect to receive your report.
In most cases, yes. Red Book Valuations are prepared by RICS Registered Valuers in accordance with recognised professional standards and are widely accepted for legal, taxation and financial purposes. If your adviser has specific requirements, let us know before the valuation is carried out.
In some circumstances, a retrospective valuation may be required, for example for probate or tax purposes. Whether this is appropriate will depend on the purpose of the instruction and the information available. We’ll advise you if a retrospective valuation can be provided.
We carry out Red Book Valuations for a wide range of residential properties. If your property is unusual, listed or of non-standard construction, please let us know when requesting your quotation so we can confirm the most appropriate valuation service.
If possible, have the property’s address and a brief explanation of why the valuation is required. This helps us recommend the correct type of valuation and provide an accurate quotation.
Yes. We regularly carry out valuations for portfolios, multiple properties and clients who require more than one valuation as part of the same instruction.
Get In Touch
If you require a RICS Red Book Valuation or you’re unsure which type of valuation you need, we’re happy to help. Tell us a little about your requirements and we’ll recommend the most appropriate valuation before preparing your quotation.
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Areas We Cover
With offices across England, we provide RICS Red Book Valuations for clients across a wide range of towns, cities and surrounding areas. Use the map below to find your nearest office and the locations it covers.