Scope of Service: Valuation Report
The scope of the instruction is to research and inspect the subject property and provide a Valuation Report in accordance with the received and signed Terms of Engagement. The purpose of the report is to provide an independent and professional assessment of the market value of a property. This report aims to determine the estimated amount for which the property should exchange between a willing buyer and a willing seller in an arm's length transaction, based on the valuation date and considering relevant market conditions. The report provides an objective, credible, and transparent opinion of this property's value at the time of assessment by the responsible valuer. Market conditions impacting this property value can change over time so the valuation date is important to keep in mind.
This Valuation Report is a custom format designed to meet or exceed all requirements detailed in the most recent RICS Valuations Global Standards. It is a clear and user friendly format, developed following feedback from our clients who wanted a thorough but easy to understand report. Technical industry jargon is limited to ensure a helpful and balanced perspective on the basis of value for this property that is clear and unambiguous.
The valuer will conduct a physical inspection of the property, both internally and externally, to gather relevant information and assess its general condition, characteristics, and local position. The valuer will also analyse relevant market data, including recent sales of comparable properties, market trends, and other factors influencing property values in the immediate area. If appropriate, any issues affecting the degree of certainty in relation to this analysis will be addressed. Please note that the Valuation Report provides an opinion of the market value at a specific point in time and does not include a detailed building survey or assessment of the property's structural condition nor compliance with building regulations.
The scope of this report requires the responsible valuer to make assumptions concerning the status and condition of the subject property. Assumptions are often required due to the limited extent of investigations or enquires undertaken by the valuer. A list of likely assumptions are included in the Terms of Engagement for review and agreement.
The valuer will employ recognised valuation methodologies appropriate for the type of property being valued. This may include the Market Approach, Income Approach, or Cost Approach, depending on the property's nature, purpose, and market conditions. The valuer will select the most appropriate method or a combination of the following and explain the rationale behind the chosen approach in the report:
- The Market Approach compares the subject property to identical or similar properties with pricing data in geographical proximity within an appropriate time horizon.
- The Income Approach produces a single current capital value based on capitalisation of present and predicted income.
- The Cost Approach determines value by assuming that a purchaser will not pay more for this property than the cost to buy or build one of equal utility.
The valuer will be available to discuss the reported findings, answer any questions, and provide further clarification if needed. The client is encouraged to seek additional information or clarification to ensure a thorough understanding of the valuation process and the factors considered.
The report is for your private and confidential use. You must not reproduce it completely or in part. Third parties (with the exception of your professional advisers) cannot use it without our express written authority. Any other persons rely on the report at their own risk.
It is essential to review and understand the Terms of Engagement specific to the valuation report, as agreed upon prior to the commencement of the valuation process.
Getting the Information to You
This report is designed to deliver important and occasionally technical information in a way that is easy for to access and understand. The best way to get the layers of information that are presented in this report is to read it online (the HTML version) from the secure web address provided in the link. This format allows you to expand your learning about this house with a dynamic experience far more engaging than a static document.
Viewing the report on a larger screen provides a superior experience as much detail can be lost on small devices like smart phones. For similar reasons, reports should only be printed in colour to retain as much detail as possible and minimise misinterpretation of photographs.
If you prefer, this report can also be printed on paper or to a PDF document.
Chapters and Sections
This report is divided into chapters that parcel the home into logical inspection elements. Each chapter is broken into sections that relate to a specific system or component of the home. You can navigate between chapters with the click of a button on the left side margin.
Identification of Status of the Valuer
Purpose of Valuation
Property to be Valued
86 Fieldstone Drive East Riverton, Kent GB1 4UK
Date of Inspection
Interest to be valued
Type and use of property
Basis of Value