Table of Contents
Trust me, I'm a RICS Registered Valuer!
Hi, I’m Chris Bloor, founder of CJ Bloor Property Consultants. With over 20 years in the property industry, I’ve progressed from AssocRICS accreditation to achieving a Master’s in Real Estate, becoming an MRICS Chartered Surveyor and an RICS Registered Valuer.
In 2019, I founded CJ Bloor with a clear mission: to make the valuation process transparent, reliable, and accessible for our clients.
RICS Valuations are often required for key life events such as Help to Buy repayments, probate matters, and matrimonial settlements. These moments can be stressful, and my goal is to ensure the valuation process gives you clarity and peace of mind.
A valuation should do more than provide a figure. It should explain how that figure is reached and give you the confidence to make informed financial decisions.
When writing this guide, I wanted to share not only the technical side of RICS Valuations, but also my own insights from years of experience. You’ll find practical advice, straightforward explanations, and a clear overview of when and why valuations are needed.
I hope you find this guide both useful and reassuring.
What is a RICS Valuation?
Simply put, a RICS Valuation is a formal assessment of a property’s market value, carried out by an RICS Registered Valuer.
The valuation must be conducted by a qualified surveyor who is both a member of the Royal Institution of Chartered Surveyors (RICS) and registered under the RICS Valuer Registration Scheme. This ensures the process is carried out to strict professional standards and provides you with a figure that can be relied upon for legal, financial, or official purposes.
Unlike a survey, which focuses on a property’s condition, a valuation is focused on establishing its market value at a specific point in time. It follows the professional standards set out in the RICS Red Book, which acts as the industry benchmark for valuations worldwide.
The Red Book lays down the rules and guidance every valuer must follow. This ensures consistency, transparency, and accuracy, so you can trust that your valuation is both independent and impartial.
When might you need a RICS Valuation?
There are several situations where a formal RICS Valuation is required. These are often linked to legal, financial, or personal matters where an independent, professionally verified figure is essential. Some of the most common scenarios include:
Help to Buy
If you purchased your home through the government’s Help to Buy scheme and want to sell or repay your equity loan, you’ll need an RICS Valuation. This ensures the repayment figure is based on the current market value of your property.
Shared Ownership
If you own a share of your property and want to buy more (known as “staircasing”) or sell your share, a RICS Valuation is typically required by the housing association to ensure the correct value is used.
Probate
When someone passes away, their estate often needs to be valued for inheritance tax and distribution purposes. An RICS Valuation provides an accurate and impartial assessment of the property’s market value at the date of death.
Matrimonial Settlements
In divorce or separation proceedings, property is usually one of the largest shared assets. A RICS Valuation gives a fair and unbiased figure that can be used in negotiations or court proceedings.
Tax Purposes
For certain tax assessments, such as Capital Gains Tax, a professional valuation is needed to establish the property’s market value at a specific date.
“You might think an estate agent’s estimate or online figure is enough, but in many cases it won’t be accepted. A formal RICS Valuation gives you an independent, recognised figure that stands up to legal and financial scrutiny.”
Chris Bloor MRICS, Director
The "Red Book" Explained
Every RICS Valuation must be carried out in line with the professional standards set out in the RICS Valuation – Global Standards, more commonly known as the “Red Book.”
The Red Book provides the rules, requirements, and ethical principles that all RICS Registered Valuers must follow. In the UK, these global standards are supported by the UK National Supplement, which adapts the guidance to reflect UK-specific legislation, tax rules, and market practices.
This combined framework ensures that every valuation is:
Consistent – carried out to the same recognised framework, no matter who completes it.
Transparent – with clear reasoning behind the final figure.
Reliable – trusted by lenders, housing associations, courts, and government bodies.
Independent – with no conflict of interest, so the figure is impartial and unbiased.
Put simply, the Red Book and its UK supplement are there to protect you. They guarantee that the valuation you receive has been prepared to the highest professional standards, giving you confidence that the figure can be relied upon for legal, financial, or official purposes.
“At CJ Bloor, every valuation we provide is carried out in line with the RICS Red Book. We see it as more than just a rulebook. It’s the framework that ensures our clients receive valuations they can rely on for important life events. By following these standards, we know our reports are consistent, transparent, and trusted.”
Chris Bloor MRICS, Director
The RICS Red Book
Who Can Carry Out a RICS Valuation?
Not every surveyor is qualified to provide an RICS Valuation. To carry out one officially, the surveyor must be:
A member of RICS – this can be at AssocRICS, MRICS or FRICS level.
An RICS Registered Valuer – enrolled on the RICS Valuer Registration Scheme, which regulates professionals who undertake valuations.
This combination ensures the surveyor has met the required professional standards and is competent to carry out valuations in line with the RICS Red Book and UK supplement.
Be careful who you instruct. If your valuation is not carried out by an RICS Registered Valuer, it is highly likely to be rejected by lenders, housing associations, or solicitors, meaning you may need to commission a second report.
“We’ve seen many reports rejected because they weren’t completed by RICS-accredited surveyors. Clients often come to us afterwards for a formal RICS Valuation, which is accepted without issue. This is why we only use RICS-Registered Valuers — it ensures our clients receive valuations that are recognised and trusted.”
Chris Bloor MRICS, Director
What Does a RICS Valuation Include?
A RICS Valuation is a professional assessment of a property’s market value at a specific point in time. Unlike a survey, which looks at the property’s physical condition, a valuation focuses on evidence from the property market and comparable sales data.
When you receive an RICS Valuation, it will typically include:
Property details – a clear description of the property being valued, including its address, tenure, and key features.
Purpose of the valuation – the reason the report is being prepared, such as Help to Buy, probate, matrimonial settlement, or tax purposes.
Basis of value – an explanation of the type of valuation being provided (for most clients, this will be Market Value as defined by RICS).
Assumptions and limitations – any factors the valuer has assumed or not been able to verify, for example, planning consents or legal restrictions.
Market evidence – comparable sales and local market data used to support the valuation figure.
The valuation figure – the valuer’s professional opinion of the property’s current market value.
The report will be prepared in accordance with the RICS Red Book and UK supplement, meaning it follows a strict framework recognised by housing associations, courts, and government bodies.
RICS Report - front page
RICS Report - contents page
Why is a RICS Valuation Different to an Estate Agent’s Market Appraisal?
A RICS Valuation is a professional assessment of a property’s market value at a specific point in time. Unlike a survey, which looks at the property’s physical condition, a valuation focuses on evidence from the property market and comparable sales data.
When you receive an RICS Valuation, it will typically include:
Property details – a clear description of the property being valued, including its address, tenure, and key features.
Purpose of the valuation – the reason the report is being prepared, such as Help to Buy, probate, matrimonial settlement, or tax purposes.
Basis of value – an explanation of the type of valuation being provided (for most clients, this will be Market Value as defined by RICS).
Assumptions and limitations – any factors the valuer has assumed or not been able to verify, for example, planning consents or legal restrictions.
Market evidence – comparable sales and local market data used to support the valuation figure.
The valuation figure – the valuer’s professional opinion of the property’s current market value.
The report will be prepared in accordance with the RICS Red Book and UK supplement, meaning it follows a strict framework recognised by housing associations, courts, and government bodies.
RICS Valuation vs Estate Agent’s Market Appraisal Summary
| Element Inspected | RICS Valuation | Estate Agent’s Market Appraisal | |
|---|---|---|---|
| Who Carries It Out | A qualified surveyor who is a member of RICS (AssocRICS, MRICS, or FRICS) and an RICS Registered Valuer. | An estate agent, who may or may not hold formal qualifications. | |
| Standards Followed | Conducted in strict accordance with the RICS Red Book and UK supplement. | No mandatory professional framework, standards vary between agents. | |
| Purpose | Provides a formal valuation for legal, financial, or official use (e.g. Help to Buy, probate, matrimonial). | Provides an estimated asking price to help market the property for sale. | |
| Independence | Independent and impartial. Must avoid conflicts of interest. | May be influenced by the desire to secure an instruction and could suggest higher figures. | |
| Evidence Used | Relies on verified comparable sales evidence, market data, and professional judgement. | Often based on local market knowledge and recent sales, but not always independently verified. | |
| Acceptance | Accepted by lenders, housing associations, solicitors, and courts. | Not accepted for legal or financial purposes. | |
| Outcome | A written valuation report with a clear figure and supporting reasoning. | A suggested asking price or marketing range, often informal and not legally binding. |
“You might think an estate agent’s estimate or online figure is enough, but in many cases it won’t be accepted. A formal RICS Valuation gives you an independent, recognised figure that stands up to legal and financial scrutiny.”
Chris Bloor MRICS, Director
Why is a RICS Valuation Different to a Survey?
A common misconception is that a RICS Valuation is similar to a survey. In reality, they serve very different purposes.
A RICS Valuation is focused on one thing: establishing the property’s current market value at a specific date. To do this, the valuer will carry out a limited inspection, mainly to confirm the property is suitable for valuation, and then rely on comparable sales evidence and market data to reach a figure. The emphasis is on accuracy, impartiality, and compliance with the RICS Red Book and UK supplement.
A RICS Survey (Level 2 or Level 3), by contrast, is a detailed assessment of the property’s condition. A surveyor will inspect the building more thoroughly, highlight defects, advise on repairs, and provide guidance on maintenance. A survey is designed to help you understand the risks and future costs associated with a property, whereas a valuation is designed to provide a legally recognised market value.
Put simply, a valuation gives you a trusted figure. A survey gives you a clear picture of condition. Both are important, but they are not interchangeable.
RICS Valuation vs RICS Survey – At a Glance
| Feature | RICS Valuation | RICS Home Survey |
|---|---|---|
| Main Purpose | Provides a formal market value figure at a specific date. | Assesses the property’s condition and highlights defects. |
| Who Carries It Out | RICS Registered Valuer (AssocRICS, MRICS, or FRICS). | RICS-accredited surveyor (AssocRICS, MRICS, or FRICS). |
| Standards Followed | RICS Red Book + UK Supplement. | RICS Home Survey Standard. |
| Depth of Inspection | Limited visual checks only, enough to support valuation. | Detailed inspection of the building’s structure, services, and condition. |
| Defects Identified | Not the focus – only obvious issues if they affect value. | Highlights urgent, significant, and hidden defects. |
| Advice Given | Market value supported by comparable sales evidence. | Repair and maintenance advice, plus recommendations for further investigation. |
| Legal / Official Use | Accepted by lenders, housing associations, solicitors, and courts. | May be used in negotiations, but not usually accepted for legal or financial processes. |
| Output | Formal valuation report stating a figure. | Detailed survey report describing condition and risks. |
“We’re often asked if a valuation is like a mini-survey, but the two are very different. A valuation gives you a market value figure, while a survey tells you about the property’s condition. They work hand in hand, but one can’t replace the other.”
Chris Bloor MRICS, Director
How Much Does a RICS Valuation Cost?
Price Table
| Property Value | RICS Valuation | Help to Buy Valuation | Single Joint Expert (Court Purposes) |
|---|---|---|---|
| £100K - £400K | £200-£225 | £200 | £495-£595 |
| £401 - £600K | £225-£245 | £200 | £595-£695 |
| £601 - £800K | £245-£275 | £225 | £695-£795 |
| £801 - £1m | £275+ | £245 | £795+ |
| £1m - £1.5m | TBC | TBC | TBC |
The prices listed above are for guidance only and can vary significantly. We assess each property individually and provide a tailored quote based on its specific requirements, complexity, and other relevant factors.
“Clients often ask why a RICS Valuation carries a fee when estate agents offer free appraisals. The difference is that our valuations are formal, regulated, and legally recognised. They stand up to scrutiny, which is why lenders, solicitors, and housing associations accept them without question.”
Chris Bloor MRICS, Director
Choosing the Right Firm for Your RICS Valuation
The first step when choosing a surveying firm is to confirm they are RICS-regulated. The Royal Institution of Chartered Surveyors (RICS) is a globally recognised professional body that sets high standards for those working in the property and construction sectors.
A RICS-regulated firm ensures that the business follows strict professional and ethical guidelines.
It’s also important to check the individual surveyor’s status with RICS.
You can verify whether they are a Chartered Surveyor (MRICS/FRICS) or an Associate Member (AssocRICS) by searching their name on the RICS website. This guarantees that the person carrying out your survey has the necessary qualifications, experience, and professional accountability.
Go Further with Additional Research
To gain further insight into the firm and its surveyors, you can check professional platforms such as LinkedIn. This can provide additional details on their experience, qualifications, and client feedback. Looking at company pages, employee profiles, and even client reviews can help you make a more informed decision when selecting the right surveyor.
Check for Good Reviews
A firm’s reputation is a strong indicator of the quality of service you can expect. Take the time to read reviews on independent platforms such as Google Reviews and Trustpilot. Look for feedback on the firm’s communication, the clarity of their reports, and their responsiveness to client queries. High ratings and positive reviews are signs that the firm has a solid track record and is trusted by previous clients.
Ensure Complete Independence
To ensure truly impartial advice, it is important to confirm that the firm is entirely independent and has no financial ties or referral agreements with third parties.
Some firms operate on referral arrangements where recommendations are made in exchange for fees or commissions. While this is a common practice, it can create potential conflicts of interest, particularly if there is any pressure to align findings with the expectations of those providing referrals rather than delivering a completely objective assessment.
Request a Sample Valuation Report
Before instructing a surveyor, it’s a good idea to request a sample RICS Valuation report. This will give you a clear picture of the format, structure, and level of detail you can expect.
A good valuation report should be:
Clear and concise – written in plain English, easy to follow, and free of unnecessary jargon.
Well-structured – setting out the property details, purpose of the valuation, basis of value, assumptions, and final figure in a logical order.
Transparent – showing the reasoning behind the valuation figure, with reference to comparable evidence.
Unlike surveys, valuations do not always include photographs or detailed condition notes, so don’t expect these in the report. Instead, the focus is on providing a professional, independent market value that can be relied upon for legal or financial purposes.
Requesting a sample in advance ensures you know what you’re paying for and that the report will meet the requirements of your lender, solicitor, housing association, or HMRC.
What to Expect During a RICS Valuation
A RICS Valuation is a straightforward process, but it’s helpful to know what will happen when a surveyor visits your property. Unlike a survey, the purpose of the inspection is not to examine the condition in detail but to gather enough information to support an accurate market value.
During a valuation, you can expect the surveyor to:
Inspect the property externally and internally – A limited visual check of the building to confirm its type, layout, and general state of repair.
Note key features and measurements – Basic details such as property size, number of rooms, and significant attributes (e.g. extensions, garages, or outbuildings).
Consider location and setting – Local area factors such as amenities, transport links, and neighbourhood characteristics that may influence value.
Check comparable evidence – Research recent sales of similar properties nearby to support the valuation figure.
Record assumptions and limitations – Outline any aspects that have not been investigated in detail (such as legal title, planning restrictions, or hidden defects).
After the visit, the surveyor combines the site notes with market evidence and professional judgement to prepare the valuation report. This report provides a clear, independent figure that you can rely on for legal, financial, or official purposes.
What to Do With Your RICS Valuation
Once you’ve received your RICS Valuation, the next step is knowing how to use it. The report provides an independent market value figure, but its importance lies in how it helps you progress with your legal, financial, or personal circumstances.
Here are some of the most common ways clients use their valuation:
Help to Buy
Send the report to Target HCA (the government’s Help to Buy administrator) or pass it on to your solicitor. The valuation will be used to calculate the repayment figure for your equity loan.Probate
Provide the valuation to your solicitor or directly to HMRC. It forms part of the inheritance tax assessment and ensures the estate is handled fairly.Matrimonial Settlements
Share the valuation with your solicitor or the court. It provides an impartial figure to support financial negotiations during separation or divorce proceedings.Shared Ownership
Pass the valuation to your housing association if you are staircasing (buying more shares) or selling your share. The valuation ensures the correct value is applied.Tax Purposes
Use the valuation as evidence when calculating Capital Gains Tax or other property-related tax liabilities.
In each case, the valuation provides a figure that is recognised, impartial, and legally compliant. This means you can move forward with confidence, knowing your decisions are based on professional and reliable advice.
“Many of our clients feel a real sense of relief once they receive their valuation. It’s the key that allows them to move forward, whether that’s repaying a Help to Buy loan, finalising probate, or resolving a matrimonial settlement. Having an independent, RICS-compliant figure gives clarity and peace of mind at what can often be a stressful time.”
Chris Bloor MRICS, Director
FAQ
How long is a RICS Valuation valid for?
Most RICS Valuations are valid for three months. If the process you’re using the valuation for takes longer, the report may need to be updated or reissued to confirm the figure is still accurate.
Can an estate agent’s figure be used instead of a RICS Valuation?
In most cases, no. Estate agent appraisals are not regulated and are not accepted by lenders, housing associations, or solicitors. Only a valuation carried out by an RICS Registered Valuer will be accepted for legal or financial purposes.
Does a RICS Valuation check the property’s condition?
Not in detail. A valuation involves a limited inspection to confirm the property’s type, size, and general state, but it does not assess defects or provide repair advice. That is the role of a survey.
How long will the valuer be at my property?
The inspection itself usually takes between 15 and 45 minutes, depending on the type of valuation and the size of the property.
How long does it take to receive my RICS Valuation report?
Most reports are issued within 5 working days after the inspection, depending on the property and complexity.
Who can carry out a RICS Valuation?
Only surveyors who are members of RICS (AssocRICS, MRICS, or FRICS) and are registered under the RICS Valuer Registration Scheme.
Will my RICS Valuation be accepted?
Yes, because it follows the RICS Red Book and UK supplement. A valuation prepared by an RICS Registered Valuer is recognised and trusted by all housing associations, solicitors, and government bodies.
