Professional services are a key area of Fisher German’s work, especially the undertaking of professional valuations for clients. Undertaking a professional valuation involves many important aspects. The valuer needs three key pieces of information about the valuation instructions; these include the purpose of the valuation, basis of the valuation and method of valuation to be used.
A site inspection will be carried out which involves a full inspection of the property, filling out a detailed checklist and recording measurements and photographs. A full due diligence check will be carried out to check for any factors that may affect value; this includes planning and environmental issues. For properties that are valued by a comparable evidence method, researching properties that have been sold which are similar in some aspect to that being valued will be compiled and adjustments made to help with like for like comparison. This is where the professional expertise of a valuer is essential to analysis and conclude a market value for a property.
A valuation report will then be drafted, which details any assumptions made and market evidence to inform the client of the value of the property. The content of formal valuations is defined under the Royal Institution of Chartered Surveyors (RICS) Practice Statements (known as the 'Red Book').
Please go to the Valuation Section of our website (under Services) for further advice on Valuations.
