Residential Property Valuations
Farrow & Gould Limited is regulated by RICS and provides professional residential property valuations across London and the Home Counties.
Our valuations are undertaken by RICS Registered Valuers and provide a professional and objective opinion of value appropriate to the purpose of the instruction.
Valuations are prepared in accordance with the RICS Valuation – Global Standards (Red Book) and relevant UK requirements, where applicable.
What Is an RICS Red Book Valuation?
RICS Valuation – Global Standards, commonly known as the Red Book, set the professional standards for valuation work. Where Red Book requirements apply to the instruction, our report is prepared by an RICS Registered Valuer in accordance with the current standards and relevant UK requirements.
A formal valuation is prepared for an agreed purpose, valuation date and intended use. That is different from an estate agent's marketing appraisal or a mortgage valuation commissioned for a lender, and it is why a report prepared for one purpose should not automatically be relied upon for another.
Residential Property Valuation Services
Property valuations are required for many different purposes. The appropriate valuation basis, valuation date and reporting requirements will depend on why the valuation is needed.
We review the purpose of each instruction before confirming the appropriate service.
Private Market Valuations
We provide private residential Market Valuations for purposes including:
- pre-purchase valuations;
- pre-sale valuations;
- family transfers and transfers of equity; and
- other private residential purposes by agreement.
A private purchaser's valuation is prepared for your own stated purpose and is separate from any mortgage valuation commissioned by a lender.
If you are purchasing a property and also want advice on its condition, our RICS Home Survey Level 2 – Survey and Valuation is a separate combined service.
Matrimonial & Financial Settlement Valuations
We provide residential valuations for matrimonial, separation and financial settlement matters, including private negotiations, mediation and discussions between the parties and their professional advisers.
Where a valuation is required for formal court proceedings or as a Single Joint Expert instruction, different procedural and reporting requirements apply.
Please tell us if the valuation is intended for court proceedings when requesting your quotation so that we can confirm whether we are able to accept the instruction.
Capital Gains Tax & Retrospective Tax Valuations
We provide current and retrospective residential valuations for Capital Gains Tax purposes where a property valuation is required.
For a retrospective valuation, the property is assessed at the relevant historical valuation date using appropriate market evidence and the statutory requirements applicable to the instruction.
Please provide the required valuation date and any relevant information from your accountant, tax adviser or legal adviser.
Probate & Inheritance Tax Valuations
We provide residential property valuations for probate and Inheritance Tax purposes.
Where required for Inheritance Tax, the property is valued at the relevant date of death in accordance with the applicable statutory valuation basis.
A valuation prepared for probate or Inheritance Tax relates to that particular purpose and valuation date. A later valuation required for another tax or estate purpose may require a separate instruction.
Residential Portfolio Valuations
We undertake valuations of residential property portfolios for private landlords, investors and other residential property owners.
The scope will depend on the size, composition and purpose of the portfolio. Larger, unusual or specialist portfolios are considered individually before an instruction is accepted.
Residential Investment Property Valuations
We provide valuations of residential investment properties where an opinion of value is required for an agreed private purpose.
This service relates to residential property and does not include specialist commercial or institutional investment valuation.
Other Private Residential Valuations
Other residential valuation requirements may be considered by agreement.
When requesting a quotation, tell us why the valuation is required and provide any relevant requirements supplied by your solicitor, accountant, housing provider or other professional adviser.
We will confirm the appropriate service and whether we are able to accept the instruction.
Help to Buy & Shared Ownership Valuations
Why Farrow & Gould?
Farrow & Gould Limited is regulated by RICS, and our residential valuations are undertaken by RICS Registered Valuers.
Our valuers have extensive residential property experience across London and the Home Counties.
Each valuation considers the purpose of the instruction, the property itself, relevant market evidence and appropriate comparable transactions.
The Valuation Process
Request a quotation
Complete our quotation form and provide the full property address, the purpose of the valuation and any relevant information.
We review your requirements
We review the valuation purpose and information supplied before issuing the appropriate quotation.
Complete the Terms of Engagement
If you wish to proceed, the applicable Terms of Engagement and payment instructions will follow.
Provide relevant documents
Where applicable, provide any documents or instructions supplied by your solicitor, accountant, housing provider or other professional adviser.
We arrange the inspection
Where an inspection is required, Farrow & Gould will arrange access to the property and confirm the appointment.
Your valuation report is issued
Your valuation report is prepared for the agreed purpose and issued in accordance with the Terms of Engagement for that service.