Valuation Flashcards
1
Q
What should be in terms of engagement?
A
1) ID of Valuer and Qualifications
2) Property to be valued address
3) Basis of valuation
4) Date of Valuation
5) Special assumptions
6) Nature and source of info
7) format
8) complaints - in accordance of RICS guidelines
9) Third party liability
10) Restriction of use
11) Val currency
2
Q
What to do if someone has asked for a val?
A
Check there are no conflict of interests.
3
Q
Exmaples of conflicts of interest?
A
1) member of firm has acted for the party before.
2) client is looking to purchase/lease a property which is marked by the firm.
3) member of firm is acting for the other party
