RICS Property Valuations
A valuation report is a brief report that involves an inspection but not a survey of the property. It is based on a limited inspection and it is advisable not to rely on it solely in making a decision on whether or not to purchase a property. It will not involve reporting on disrepair items unless they are essential enough to affect value or saleability. Our valuation reports are adequate if you only require information about the property value and do not require detailed information about the condition of the property.
Mortgage Valuation reports basically provide the lender with the type of construction, general condition, locational issues, other specific lender requirements, and a valuation to enable the lender make a decision on whether or not to lend on the property.
We have a vast database of property transactions that go back several years and this enables us to provide backdated valuations when required.
We act for Executors in valuing property that forms part of a deceased person’s estate.
Inheritance Tax Valuation
Inheritance Tax is a tax payable on death. It is calculated on the value of the assets of the deceased. It is currently 40% above £325,000 subject to certain exemptions and relief. We can provide a valuation for Inheritance Tax purposes for each property owned by the deceased, to include a Market Value as defined under Section 160 of the Inheritance Tax Act 1984.
In carrying out the valuation, we consider the effect a Tenancy in Common will have on the value and also consider the loss to the value of the estate as a result of any Lifetime Transfer.