A so-called Red Book valuation is the gold standard of valuations and can only be carried out by a qualified chartered surveyor. When our surveyors are doing valuations of property, energy projects, land or machinery, they are bound by the standards set out in the Royal Institution of Chartered Surveyors' Red Book. The book contains all official RICS practice statements and guidance notes on valuation.
We also do valuation work for many high street lenders who trust our expertise when they are making decisions about where to lend.
Clients who live in high-value, old or unusual houses often use our insurance assessment valuation service to ensure that they are comprehensively covered for the accurate cost of fully re-building their house or other property from scratch, should that ever be necessary.
The traditional construction methods and materials used in historic or listed buildings are expensive. In our reinstatement cost assessment we carry out a detailed survey into how the property was built, the materials used and all distinguishing features of its construction and features that would need to be reinstated in the event of a disaster.
For houses that are old, detached, elaborately embellished or designed by an important architect, this is a wise investment. One of our surveyors examines every inch of the building to understand as much as possible about the house before working out in detail the cost in materials and labour of reinstating the property. Comprehensive floor plans can also be drawn up. Many people chose to commission a reinstatement cost assessment when they are purchasing the property. This way it can be carried out at the same time as the general building survey, minimising costs and disruption.
For more information, speak to our Head of Valuation, Stephen Wolfe, or contact a Red Book valuer where you are.