The Purpose of a Market Valuation
Valuation underpins all property decision making. Whether you’re a national bank, property developer, or a private buyer. Value is important. That’s why you should be very careful about who you consider to do it. You can trust Carpenters to give you the insight you need in a Market Valuation, or a Building Survey. We’ve been doing it for years, with the credibility to prove it.
When it comes to something as important as value – count on Carpenters for your property valuations.
It can be complex and challenging to reliably establish value, with many variables to consider on a property-by-property basis.
Our reports are clear, unambiguous and well thought through. That’s why lenders will often ask for Carpenters by name!
All our surveyors have been enrolled in the RICS Valuer Registration scheme since its inception in 2010. The RICS Valuer Registration is a monitoring programme for all RICS professionals undertaking valuations in accordance with RICS Valuation Standards – the ‘Red Book’.
Being part of this scheme will assure the quality of our valuations, raise the credibility of our valuer’s and provide clients with a clearly identifiable designation for the best regulated and qualified professionals in the field.
The events of the last recession have clearly demonstrated the value of sound, independent and consistent advice delivered to globally accepted standards. That is just what the Carpenter Surveyors Market Valuation report does, and being part of the RICS Valuer Registration further underpins this.
It’s The Methodology That Counts!
With robust methodology, our reports are accurate and informative. It’s all in the methodology and research. It’s vitally important that the logic and assumptions of any valuation are made plain and clear. Our reports are based upon an unambiguous and clearly laid out methodology, getting to the heart of the details.
Carpenters use the industry’s most comprehensive, verified database on acquisitions and disposals. Searching over half a million deals going back 20 years, with thousands of building reports. Couple this with using market-leading technology, and resources, local intelligence and benchmarking, we strongly believe, a Carpenters property valuation report is a market leading product. Our report templates are regularly peer-reviewed, updated and improved to reflect the up to date needs of our clients and the marketplace as it too evolves.
What Is Market Value?
The nature and purpose of a valuation will determine various assumptions and disregards that a surveyor will have to take into consideration when arriving at an opinion of value. However, the generally accepted definition of Market Value from the Royal Institution of Chartered Surveyors (RICS) is;
“The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion”.
A Valuation Is Not A Survey!
It is important to recognise that a valuation is not a survey and although a Market Valuation may provide a brief overview of the size, condition and location of the property, it is valuation focussed and will not comment further on any defects or other factors that do not materially affect the value of the property.
Choosing the right type survey will help highlight any serious problems and advise you of the specific risks before you commit to the process of buying or selling a property.
You might also want to give serious consideration to commissioning a property survey in conjunction with your valuation as these two key factors are paramount when considering whether or not to proceed with a property purchase.
By pairing a RICS Building Survey with a Market Valuation report, not only will you see the full and trued condition of the building, warts and all, but our surveyors will also be able to carefully consider and reflect the true Market Value of the property, reflecting the present condition and potential repair or maintenance works required.
You may also want to see – ‘Property Surveys’
The Royal Institution of Chartered Surveyors is a professional body that accredits professionals within the land, property, construction, and infrastructure sectors worldwide.