RICS valuation: a figure that stands up.
An Independent Property Valuation for a Wide Range of Purposes
Evidence, adjusted, not an opinion.
An agent's appraisal is a marketing figure. A Red Book valuation is comparable evidence, adjusted for how each comparable differs from your property, converging on a range, and the report shows the working.
Understanding "Market Value"
Willing Buyer and Willing Seller
Market Value assumes a transaction between a willing buyer and a willing seller, both acting knowledgeably and without pressure. This reflects a fair and open market scenario.
Proper Marketing Period
The value is based on the assumption that the property has been properly exposed to the market for a reasonable period of time. This ensures the figure reflects normal market conditions.
Normal Market Conditions
The valuation assumes that both parties act responsibly, without special incentives or unusual circumstances. It reflects a typical sale where no party is under compulsion to act.
Every figure assumes all three. Where one of them does not hold (a forced sale, a short marketing period, a special purchaser), the report says so and the basis changes.
What do you need the valuation for?
Help to Buy, probate, divorce and shared ownership each need the valuation prepared differently, and some need a different duty of care entirely. Tell us the purpose and the report is written to suit it.
Help to Buy Valuations
Required by Target before you can staircase or redeem. Carried out to the Homes England format, and accepted on that basis.
Shared Ownership Valuations
For buying further shares or selling on. The figure has to satisfy your housing association, not just you.
Probate & Capital Gains Tax
A valuation at the date of death, or at acquisition, that HMRC will accept and that stands up if it is questioned later.
Matrimonial & SJE Cases
A figure both parties can rely on, prepared to the standard a court expects rather than to either side of the dispute.
Acting as Single Joint Expert
In a matrimonial or divorce instruction we can act for both parties as Single Joint Expert. The duty then runs to the court under CPR Part 35, above the duty to either side or to whoever pays the fee, and the report carries the declaration that says so. It is a different engagement from a valuation for one party, and we will not describe one as the other.
A valuation is not a survey
- It is not a condition report, and does not rate the elements
- Defects are noted only where they affect the figure
- No roof space, drains or services inspection
- It is not a mortgage valuation for a lender
If you are buying and want to know the condition of the building, you want a Level 2 or a Level 3. We will say so rather than sell you the cheaper document.
What’s Included in a RICS Valuation Report
The contents page of the document itself, in the order it arrives.
Opening Section
This section confirms the scope and purpose of the valuation and outlines the client’s instructions. It ensures all parties are clear on what the report will cover and the basis of the valuation.
Property Details
The report outlines key information about the property, including its age, construction type, layout and location. These characteristics help explain the factors influencing its market value.
Market Commentary
A short overview of local market activity is included, highlighting trends or conditions that may affect the property’s value. This provides useful context for the final opinion.
Valuation Assumptions
The report sets out the assumptions and special assumptions relied upon in the valuation. These include matters such as tenure, services and legal considerations that influence the final opinion of value.
Comparable Evidence
Recent sales of similar properties are reviewed and analysed to support the valuation. This offers an objective benchmark based on real market activity.
Valuation Conclusion
This section explains how the final figure has been reached, drawing together the property details, market context and comparable evidence to provide a clear and reasoned opinion of value.
What is a RICS valuation?
A RICS valuation is a formal opinion of a property’s market value, prepared by a RICS Registered Valuer to the standards in the RICS Valuation Global Standards, known as the Red Book. It is arrived at from comparable evidence, meaning recent sales of similar properties adjusted for the ways each one differs from yours, and the report sets that evidence out so the figure can be checked. That is what separates it from an estate agent’s appraisal, which is a marketing figure and carries no professional liability.
- Who provides it
- A RICS Registered Valuer, which is a separate registration from RICS membership and is the requirement most institutions specify.
- What you get
- A Red Book compliant report, the comparable evidence behind the figure, and the assumptions the valuation rests on.
- What it is for
- Probate, capital gains, Help to Buy, shared ownership, matrimonial proceedings, and any purpose where a figure has to withstand scrutiny.
- What it is not
- It is not a condition survey, and it is not a mortgage valuation for a lender.
How much does a RICS valuation cost?
The range above is a guide. Your fixed price is confirmed in writing before you instruct us. A valuation is not a survey: if you are buying and want to know the condition of the building, we will tell you to book a Level 2 or Level 3 instead.
What moves the price
- The purpose
- A Help to Buy valuation follows a set format and is quick to produce. A matrimonial or probate valuation carries more evidence and more scrutiny, so it costs more.
- Property size and value
- A larger or unusual property takes longer to find comparable evidence for, which is where most of the work sits.
- Whether a retrospective date is needed
- A valuation as at a date in the past — for probate or capital gains — means reconstructing the market at that point from historic evidence.
What the fee covers
- The inspection and the comparable research behind the figure
- A Red Book compliant report by an RICS Registered Valuer
- The comparable evidence set out so the figure can be checked
- VAT
From enquiry to report, without the chasing.
Tell us the property
Address, type and roughly when you need it. About two minutes.
Get a fixed price in writing
A firm figure within the hour in office hours. Not an estimate, not a range.
Confirm and sign
We send the terms of engagement to review and sign electronically.
We arrange access
We deal directly with the seller, agent or keyholder to book the inspection.
The inspection
A local RICS surveyor attends and inspects the property.
Your report, and answers
You get the report, and anything in it you want explaining, we explain.
Questions we get asked.
What is a RICS Valuation?
A RICS valuation is an independent assessment of a property’s market value, carried out by a qualified RICS surveyor in line with the RICS Valuation – Global Standards (Red Book).
When would I typically need a RICS Valuation?
You are usually asked for a RICS valuation for Help to Buy redemptions, Shared Ownership staircasing or resale, Probate, Capital Gains Tax, Private Sale and Matrimonial matters, including Single Joint Expert instructions.
How is a RICS Valuation different from an estate agent’s valuation?
An estate agent’s figure is a marketing opinion and may be influenced by the desire to win instructions. A RICS valuation follows formal standards, relies on comparable evidence and is designed to be impartial and defensible.
How long is a RICS Valuation valid for?
Most lenders, housing associations and solicitors treat a valuation as valid for around three months, although this can vary. If the transaction is delayed, an update or revaluation may be required.
What happens during the valuation inspection?
The surveyor visits the property, takes measurements, notes its general condition and records key features that affect value. The inspection is non intrusive and is usually shorter than a full building survey.
Do I need to be present for the valuation?
No. As long as access has been arranged, you do not need to attend. If you have particular points you want the surveyor to be aware of, these can be discussed before or after the visit.
Can the valuation report be used in court or for legal proceedings?
Yes, provided the report has been instructed on the correct basis. We regularly prepare reports for Probate, tax and matrimonial cases, including Single Joint Expert valuations where required by the court.
Will the report include advice on repairs or improvement works?
No. A RICS valuation focuses on market value rather than detailed condition or repair advice. If you need a fuller assessment of defects, a RICS Home Survey (Level 2 or Level 3) would be more suitable.
Can I challenge the valuation if I disagree with it?
If you feel something has been overlooked, you can raise this with us and provide any additional evidence you have. The surveyor will review the information and confirm whether the valuation can be amended or should remain unchanged.
How do I get a RICS valuation?
Tell us the property and the purpose, whether that is probate, Help to Buy, shared ownership, matrimonial or something else, because the purpose changes the basis and sometimes the duty. We confirm a fixed price in writing, arrange access, inspect, and issue the report. Most instructions are inspected within days and reported within a few working days of that.
Are RICS valuations lower than estate agent valuations?
Often, though not by design. An agent is giving you a marketing figure, which is a view on what might attract offers. A Red Book valuation is what the comparable evidence supports, adjusted and set out so it can be checked. Where the two differ it is normally because the agent’s figure carries optimism the evidence does not.
Do I need a RICS valuation for probate?
HMRC expects the value of a property in an estate to be assessed on an appropriate basis, and for anything other than a modest estate a Red Book valuation from a Registered Valuer is the usual way to do that. It is prepared as at the date of death and sets out its evidence, so it stands up if the figure is questioned later. Your solicitor or executor will normally advise whether one is needed.
RICS Residential Valuation near you.
Every area below is staffed by RICS surveyors who work there. If we cannot cover you properly, this site will say so rather than take the booking.
Our other services.
RICS Home Survey — Level 2
A conventional house or flat, built this century or last, in reasonable order
RICS Home Survey — Level 3
Older, larger, altered or extended, or anything already showing signs of movement or damp
Tell us the property. We'll do the rest.
A firm price in writing, a local RICS surveyor within days, and a report you can use.
Get your fixed quote →