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RICS Red Book Valuations

Fri 15 March 2024

Richardson are RICS Registered Valuers, qualified to carryout valuations in accordance with RICS Global Valuation Standards. We provide reports on properties ranging from terraced houses, shops, factories and paddocks, up to multi-million pound investment portfolios, farms and development land. 

Our Registered Valuers work within the strict professional standards set by RICS and the publication RICS Global Valuaion Standards, formerly known as the "Red Book". As such, our valuations are based on inspection, investigation and analysis to a standard and clarity that will stand the test of time and can be referred back to and understood in the future. 

We carry out valuations for:

  • Tax planning purposes
  • Inheritance Tax or Capital Gains Tax
  • Transferring assets into a SIPP pension fund
  • Properties being sold by charities (as set out in the Charities Act)
  • Divorce proceedings or other forms of litigation
  • Disputes being resolved through mediation or arbitration
  • Secured lending
We act on behalf of:
  • Private individuas
  • Trusts
  • Companies
  • Local Authorities
  • Pensions Funds
  • Solicitors and the Courts
  • Charities
The process of undertaking a "Red Book" valuation involves the following:
  • Confirming instructions and valuation requirments, including caveats, reservations and assumptions within a Terms of Engagement letter. This needs to be signed and will be included within the valuation report
  • Ensuring there is no conflict of interest
  • Inspection and measurement of the property supported by photographs
  •  Further research into matters that migth affect the propertye.g. planning permission, land designations, contamination, title and tenure, rights of way, etc
  • Gathering, analysing and recording comparable data of properties that have recently been sold or let in the area
  • Undertaking valuation calculations to assess current or historic Market Values
  • Production of a concise report that can be issued electronically or as a bound document

Richardson are also able to provide added value over and above the production of the report by taking the time to fully understand the client's situation and valuation requirements as the need for a valuation is usually part of a wider matter which often involves working closely with the client's legal and tax advisors to ensure the client's objectives are successfully achieved. 

Given the status of these valuations and the depth of information required to support our opinion of value we do have to levy a charge for this service, which we regularly monitor to ensure we can offer a highly competitive fee structure. As a goodwill gesture for your continued support with your property project we do offer attractive discount packages where our valuation leads to further instructions such as a subsequent sale or letting & management of the subject property.