Valuations of Real Estate and Buildings – Financial Statements and Insurance
Valuations of Real Estate (landed property) are prepared in accordance with Practice Statements in the “RICS Valuation – Professional Standards, Global and UK” the “Red Book”. The statements are mandatory for all Registered Valuer members of The Royal Institution of Chartered Surveyors.
Valuations of Real Estate for financial statements are prepared by an RICS Registered Valuer who
- Carries out an inspection of the premises
- Takes measurements, site, construction and accommodation details and photographs
- Researches market transactions of sales or lettings of similar properties
- Investigates planning and other salient matters
- Issues a written report in accordance with the RICS Red Book
Cost assessments of Buildings for insurance purposes follow largely the same procedures but the pricing to reinstatement cost is based on data from our records, analysis of actual building projects and from the Building Cost Information Service.