What is a Valuation?

A valuation is provided by a Chartered Surveyor and is a formal written document. It gives a simple description of the property being valued and takes into account the location, accommodation and condition and will usually reflect readily apparent defects which could affect value. IT IS NOT A SURVEY.

Many people believe estate agents give valuations of property. In general, unless they are professionally qualified members of the Royal Institution of Chartered Surveyors (recognised qualifications are FRICS & MRICS) they do not. Most estate agents when providing guidance on an asking price for a property are giving a market appraisal.