RICS Red Book Valuation Report
A professionally prepared independent Valuation Report carried out by one of our qualified RICS Registered Valuers. Inspection of the property to asses accommodation and associated grounds to produce a Market Valuation report in line with current market levels .
A valuation report is recommended when undertaking a cash purchase of a property for occupation or investment, or where you have no concerns about the condition of the property. The report will follow the criteria as set by the Royal Institution of Chartered Surveyors (RICS) Red Book Valuation Standards.
Capital Gains Tax
Essentially a Red Book Market Valuation assessed on either a current or post date. An accurate property valuation provided by one of suitably experienced Chartered Surveyors will ensure your tax bill is kept to a minimum and avoid any lengthy negotiation with the District Valuers (DV).
Probate Valuation/Inheritance Tax
At a time of bereavement there is a requirement to value assets of the estate for Probate in respect of inheritance and possible tax implications. It is important that valuation is undertaken at an early stage to ensure that Executors can settle the estate accordingly.
An estate can be subject to a tax liability which is based on the value of the property at the time of the owner’s death, not at the date of any future sale. If the deceased’s executors or beneficiaries don’t want to sell the property, it’s value must still be included in any assessment of tax due. Our experienced Surveyors can support you if you need a Probate Valuation to include property value along with any contents, vehicles etc that may form part of the overall estate.
Independent valuation of the shared home is often required during matrimonial proceedings in order to assess true market worth ‘Market Value’. If the assessment of market value is inaccurate, or isn’t prepared to recognised standards of impartiality by a member of the RICS (Royal Institution of Chartered Surveyors), it will generally not be recognised during the legal negotiation process. Our valuation reports are conducted by a suitably experienced RICS Chartered Surveyor/accredited RICS Valuer.
Insurance Valuation (Reinstatement Valuation)
Ensuring that your property is appropriately insured is essential for property owners and tenants, and in many instances is a specific requirement under the terms of a commercial lease. By undertaking regular assessment for reinstatement ensures that a property is correctly valued eliminating both under insurance which can be seriously detrimental in the event of claim and adversely over insurance which can lead to additional and unnecessary premiums. All our valuations are completed by one of our qualified Chartered Surveyors/Registered RICS Valuers. The inspection includes a measured survey and calculation of the re-build costs for the subject building or development.
Collective Enfranchisement (Freehold Purchase) Valuation
A specialist area of valuation Collective Enfranchisement essentially is the legal term used when the leaseholders of a flat development group together to buy the freehold of their building. Baker & Baker Chartered Surveyors are registered RICS Valuers skilled in this specialist field acting for both Freeholders and Leaseholders undertaking formal valuation, overseeing the statutory application and negotiation process as well as representation on behalf of clients at Leasehold Valuation Tribunal hearings.
Lease Extension Valuation
Lease extension offers an alternative to Collective Enfranchisement and can be undertaken on an individual basis and is therefore beneficial when a qualifying group of residents cannot group to allow for collective enfranchisement. Leasehold properties offer a diminishing asset, but extending the lease provides long term security of tenure for the leaseholder/property owner and ensures that a property can be sold easily achieving full Market Value. Our registered RICS Valuers act for both Freeholders and Leaseholders in extension applications and negotiation.
Charities Act Valuation
Baker & Baker Chartered Surveyors provide charities with advice to assist them in meeting their regulatory duties. Under Section 36 of the Charities Act 1993, the trustees must ‘obtain and consider a written report from an independent Chartered Surveyor’ acting exclusively for the charitable trust of the property.
Our registered RICS valuers are experienced in providing reports in accordance with the governing Act.