Are you looking to sell your property in London?

As a RICS accredited firm we follow the RICS Red Book valuation guidelines. So, what is a Red Book valuation? We often receive enquiries from people asking for a Red Book valuation. Quite simply, it is a valuation that follows the standards and guidelines established by Royal Institution of Chartered Surveyors (RICS).

The Red Book is the name given to the RICS’s professional standards for property valuations. A new edition is published every 2 or 3 years. The RICS valuation standards comprise a set of mandatory rules and guidelines for RICS Registered Valuers to follow when performing property valuations. The latest version of the Global Red Book was published in November 2019, with a UK supplement, for valuations that are subject to UK jurisdiction, being issued on 14 August 2019 and which came into effect on 31 January 2020.

The purpose of the Red Book is to provide guidance and professional standards to RICS accredited surveyors. These include ethical standards, duty of care, the valuer’s qualifications and the minimum contents you can expect from a valuation report.

Red Book valuations are also required for valuations requested by lenders, for example banks and mortgage providers. They are also required in legal proceedings and where a tax calculation is needed, for example in a property dispute, an inheritance tax calculation, a divorce case or for company accounting. A Red Book valuation is usually required by the solicitor or accountant dealing with the case as it offers an assurance that all the right procedures will have been followed and the valuation provided will hold up against any in-depth scrutiny it may be subjected to.

At London Chartered Surveyors you can rest assured that our experienced and highly-trained RICS chartered building surveyors will be able to provide you with an accurate valuation that will have the upmost credibility in dealings with third parties.

So whether you’re looking to buy, sell or invest in a residential or commercial property in London or need a property valuation for a tax calculation, lease enfranchisement or extension, staircasing, shared ownership, insurance or for a settlement, our team of RICS accredited valuers can provide you with the valuation you need.