Identifying the valuation question
Tell us what is disputed and how the valuation will be used. The question may concern the market value of a home at a particular date or an alleged reduction in value connected with a property issue. We agree the property interest, purpose, date and basis of the opinion before starting work.
The property at the relevant date
An inspection today may differ from the property’s condition at the date in dispute. Earlier photographs, plans, alteration records and previous reports can be important. We consider what evidence is available and explain assumptions where the earlier condition or circumstances cannot be established directly.
Market evidence and reasoning
Relevant transactions need to be considered in context, including location, size, condition, tenure and timing. An asking price, online estimate or marketing appraisal may have a different purpose from the report required for a dispute. Our report explains the evidence relied upon and how it supports the opinion.
Considering an alleged loss in value
Where a defect or other circumstance is said to have reduced value, the instruction must identify the issue and the comparison required. Repair costs are not automatically the same as a reduction in market value. Technical reports and other specialist evidence may be needed to establish the circumstances on which the valuation is based.
Agreeing the reporting requirements
Provide any solicitor’s instructions, existing valuations and relevant timetable. We confirm whether an initial valuation opinion or formal expert evidence is required, who may rely on the report, and the scope and fee. Our opinion is independent and cannot be agreed in advance to support a preferred figure.