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Why use a RICS registered valuer?

RICS Valuation – Professional Standards (the ‘Red Book’) contains mandatory rules, best practice guidance and related commentary for all members undertaking asset valuations. The Red Book publication details mandatory practices for RICS members undertaking valuation services. All those who occupy, own, develop or trade tangible and intangible assets in today’s global markets rely on competent and impartial valuers.

Valuation matters to us all. Valuations underpin nearly all financial decisions from home mortgages to major investment and corporate finance transactions or stock exchange listings. Valuers play an important role in the move to converge the world’s accounting standards under International Financial Reporting Standards (IFRS).

To what types of valuation do RICS Valuation Standards apply?

As a general guide, the following property types currently fall within the scope of the RICS Red Book:
o Land and buildings (commercial property, residential property, agricultural property)
o Businesses and intangible asset
o Plant and equipment
o Personal property
o Mineral assets

In broad terms the Red Book applies to the following valuation purposes:
o Loan security
o Financial reporting (including valuations for investment funds and
o Investment portfolio performance
o Takeovers and mergers
o Stock exchange (eg IPOs)
o Purchase reports (other than pricing advice provided in the course of
agency which is exempt under PS 1.2)
o Taxation (other than valuations which are subject to separate statutory
Unless produced for reliance by third parties, rent review/lease renewals are generally considered to be advice provided in the course of negotiations and are exempt under VS1.1

Commercial Valuations Insurance Valuation Property tax valuation Residential Valuations Uncategorized Valuation0 comments