Traditional English Village

RICS - The Royal Institute of chartered surveyors

RICS is a globally recognised professional body who's purpose is to ensure a uniform high standard process, it possesses one of the most rigorous valuation criteria. At Proudley Associates, we carry out RICS Red Book valuations. Olivia Proudley is a Chartered Valuation Surveyor and RICS registered Valuer. We have extensive experience in carrying out valuations of residential and commercial property.

The Red Book is a colloquial term for the mandatory rules and best practice guidelines issued by the Royal Institution of Chartered Surveyors. The current version is the RICS Valuation – Global Standards 2022 and it is revised and updated every few years, in accordance with the International Valuation Standards. The Red Book sets out standards that the members of the RICS should follow and includes valuation bases, reporting, inspections, ethics, duty of care and valuer qualifications. A Red Book valuation can only be carried out by an RICS Chartered Surveyor who is a member of the Valuation Registration Scheme.

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When is a RICS Red Book valuation required?

  • By banks and mortgage providers

  • Property disputes

  • Tax calculations

  • Probate

  • Pension purchases

  • Shared ownership

  • Divorce cases

  • Court proceedings

  • Company accounting

  • Partnership dissolution

  • Compulsory purchase

What is involved?

The valuer will carry out due diligence, visit the property to measure and inspect it, carry out market research and subsequently produce a valuation report, with a minimum of three comparable properties that have recently sold in the same area.