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Valuations In Nottingham

Valuation Example

Valuation Terms of Engagement:

Client

Miss . The report is also to be used by the First Buy Scheme or a Housing Association

Subject Properties and Use or Classification by the Client

18  NG3

The interest in the property that is to be valued                                                                                       

Freehold or long leasehold with vacant possession.

Purpose of the Valuation

Disposal of interest

Access and Date of Valuation:

1^st September 2015

Fees:

 £250.00 payable before publication of the report.  Payment can be made to (40-19-37) 81721852, cheque to S Butler or cash.

Identity of the valuer and competence

The valuer Steven JM Butler shall have sufficient knowledge of the area and type of property to be able to undertake the valuation competently. The valuer will personally inspect the property to be valued.

Relationship with the client and any previous involvement with the property:

The valuer has no previous relationship with the client and has not had any previous involvement with the property to be valued.

Standards:

The valuation will be prepared in accordance with the 8^th Edition of the Valuation and Appraisal Standards published by the Royal Institution of Chartered Surveyors.

Special instructions, assumptions or departures

There are to be no departures from the 8^th Edition of the Valuation and Appraisal Standards.

Information relied on by the valuer:

• The client or their legal advisers will be relied on for details of tenure, the terms of any tenancies, and of any tenants fittings or improvements unless otherwise stated in the report.

Basis of Value

Market Value which is defined as: the estimated amount for which the property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

Investigations and assumptions by the valuer

• No title deeds of the properties will be inspected. It will be assumed, unless stated otherwise that there are no particularly onerous restrictive covenants, encumbrances or other unusual matters that would adversely affect the properties and thus alter the valuations significantly.

• Any information regarding Rating Assessment, Town Planning, Highway Matters and other statutory approvals will be obtained verbally from the relevant authority.
• No enquires will be made in respect of any mine workings or quarrying in the area.
• No structural or site surveys will be undertaken and we are therefore unable to report that any part of the property is free from rot or other defect. No warranty or guarantee can be given or is implied as to the structural stability of the property. No soil or underground tests will be carried out and it will therefore been assumed that there are no soil or site problems which would adversely affect any of the existing buildings or any of the open land which may or may not be used for future extensions.
• Ages of properties will be estimated and are for guidance only.
• Measurements will be in accordance with the RICS code of measuring practice.
• There will be no investigations as to whether the land is or has on the past been contaminated, or whether it is on such a register and your legal advisers should make any necessary investigations before you enter into a commitment to purchase the property. The valuations assume that the properties are not contaminated and not on a statutory register of such properties.
• It will be assumed that no high alumina cement concrete, wood wool shuttering, blue asbestos or any other deleterious material has been used in the construction of any building. No warranty or guarantee is given that such materials have not been used.
• Inspections will not be carried out in detail, nor any of the services or installations such as hot and cold water, ducted warm air systems, gas and electrical installations or drainage systems in the property tested. The report will be unable to give any assurance that the buildings or services within are adequate for their purpose or that any part of them is free from defect. No warranty or guarantee is given or implied.
• No allowance will be made for rights obligations or liabilities arising under the Defective Premises Act 1972 or similar legislation relating to the standards of construction, maintenance and safety of property.

Fixtures:

Landlords fixtures and plant and machinery normally sold with a property will be included in the valuation. Process plant and machinery will be excluded. Tenants fixtures and fittings will be excluded from the valuation.

Currency:

Values are in Pounds Sterling.

Taxation:

The valuation is exclusive of any Value Added or other form of taxation that may apply to the purchase price of an interest in property.

Confidentially

This report is confidential to the stated Client for the specified purpose to which it refers. It may be disclosed to other professional advisers assisting you in respect of the purpose, but may not be disclosed to any other person without my written consent.

Publication

Neither the whole nor any part of the report may be included in a published document, circular or statement or published in any way without my written approval of the form or context in which it may appear.

Liability

It must be emphasised that no liability or responsibility to third parties can be accepted for the valuation or other comments contained in the report.

Complaints:

Steve Butler Chartered Surveyor operates a complaints handling procedure as required by the Royal Institution of Chartered Surveyors. A printed copy is available on request.

Audit:

The report and information collected for its preparation may be subject to audit by the Royal Institution of Chartered Surveyors as in order to confirm compliance with 8th Edition of the Valuation and Appraisal Standards

Signed………………………                     Dated………………………

Miss GNG3

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