RICS Red Book valuations

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What’s involved in a Red Book valuation?

In simple terms, a Red Book valuation involves a RICS Registered Valuer assessing the property and providing a formal report on the current market value of the property. To help calculate this market value, the valuer will look at three comparable properties that have recently been sold in the same or similar area.

At McAtee Property Group, our RICS Registered Valuer can provide formal Red Book valuations for a range of different purposes and properties for residential clients. So if you need a valuation why not get in touch to find out more about our expert Red Book valuation services.

When would you need a Red Book valuation?

There are lots of circumstances when a Red Book valuation might be needed. Essentially, any time you need a formal valuation for tax purposes or legal proceedings, that valuation must be done by a RICS Registered Valuer, acting in line with Red Book standards.
This might include valuations for:

• Tax planning purposes
• Calculating probate, or
• Capital Gains
• Transferring assets into a SIPP pension fund
• Properties being sold by charities (as set out in the Charities Act)
• Divorce proceedings, or other court proceedings
• Disputes being resolved through mediation or arbitration

A Red Book valuation can also be helpful for rent reviews and other negotiations.