Question 1

What is a RICS property valuation?

Accepted Answer

A RICS property valuation is an independent, professional assessment of a property’s market value carried out in accordance with RICS standards. It provides a clear, evidence-based opinion of value that can be relied upon by clients, lenders, solicitors, and other third parties.

Question 2

When do I need a RICS valuation?

Accepted Answer

A RICS valuation is commonly required for shared ownership, Help to Buy redemptions, probate, matrimonial matters, tax purposes, or when buying or selling a property. It ensures the valuation is impartial, defensible, and compliant with professional standards.

Question 3

What is the difference between a valuation and a survey?

Accepted Answer

A valuation provides an opinion of a property’s market value, whereas a survey focuses on the condition of the property and highlights defects and risks. A valuation does not include a detailed condition assessment unless combined with a survey.

Question 4

Are your valuations suitable for shared ownership and Help to Buy?

Accepted Answer

Yes. Our valuations are suitable for shared ownership staircasing, Help to Buy redemptions, and housing association requirements, and are prepared in line with current guidance.

Question 5

How is a property valuation carried out?

Accepted Answer

The valuation is based on an inspection of the property, an assessment of its size, condition, and location, and analysis of comparable recent sales evidence. This information is used to provide a reasoned and supportable market value.

Question 6

How long does a RICS valuation take?

Accepted Answer

The inspection itself is usually straightforward, and the written valuation report is typically provided within a few working days, depending on property type and access arrangements.

Question 7

Can a valuation be carried out alongside a survey?

Accepted Answer

Yes. A RICS valuation can be combined with a Level 2 or Level 3 survey, allowing you to understand both the property’s value and its condition in a single instruction.

Frequently Asked Questions