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Valuation surveyors analyse and gauge the value of buildings, providing an accurate assessment of its market value for a wide range of purposes.
Here we have a closer consider the role of Valuation Surveyors and the types of work they get involved with.
What is a RICS Registered Valuation Surveyor?
Valuing property is really a specific part of surveying and not all surveyors are qualified to carry out valuations under RICS ?red book? rules. https://anotepad.com/notes/8xb4cbm8 with the relevant expertise and training are known as RICS Registered Valuers.
How do Valuation Surveyors undertake valuations?
To complete a Valuation Report, a RICS Registered Valuer will follow the process as lay out in the RICS Red Book. This consists of a visual inspection of the property, where the surveyor is trained to recognize any serious defects or structural issues. Aspects about the property, including the size of the building and grounds, its location and desirability, and any recent improvements or extensions. The Valuation Surveyor will also conduct research and assess data within their investigations, that will take into account home elevators the sale price of comparable properties nearby that have recently been sold.
A final valuation figure is then reached and provided in an in depth report.
When do I need a Valuation Surveyor?
There are a number of circumstances when a Valuation Report conducted by a RICS Registered Valuer will be required. Types of this include where property needs to be valued as part of a divorce or civil partnership dissolution settlement. A house that is included within probate may also need to be valued by way of a RICS Registered Valuer.
Any transaction involving a property that has been purchased via the federal government? Homepage to Buy scheme will also have to be valued by a RICS Registered Valuer. So if you are considering selling a house bought using Help Buy, or should you be paying off any part of the Help to Buy loan (referred to as staircasing), you will require a RICS Registered Valuer on hand.
You're also unlikely to proceed with a mortgage for purchasing a home, or a sale of a shared ownership property, with out a residential property valuation from a Valuation Surveyor.
Read More: https://langballe-berry-2.blogbright.net/valuation-surveying-your-guide-to-learning-to-be-a-valuation-surveyor
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