A RICS Valuation is a professionally completed assessment of the market value of a property. Guided by a strict set of guidelines, best practices, ethics and professional standards as set out in the RICS Valuation Standards, it ensures that properties are valued as accurately as possible by considering all factors.

A valuation is not the same as a market appraisal offered by estate agents. A valuation is carried out by an experienced registered valuer and member of the Royal Institution of Chartered Surveyors (RICS).

It is important to note that valuations are not a survey. It is possible for properties to have defects, both minor and major, that do not affect market value but may need expensive repairs and maintenance. If you are purchasing a property, it is recommended that you have Level 2 – Home Survey or Level 3 – Building Survey completed alongside a valuation. This then provides you with a better understanding of the condition of the property and potential costs of repairs and maintenance.