Valuation - Level 2 Flashcards
Tell me why terms of engagement are important.
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What checks do you undertake before accepting a valuation instruction?
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How do you ensure you know who your client is when undertaking a
valuation instruction?
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Are there any additional requirements when undertaking a valuation in
which the public has an interest or third parties may rely?
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Are there any additional requirements for loan security valuations?
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Talk me through an example of when you have agreed terms of engagement with a client.
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What are the key elements included within terms of engagement?
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What does the Red Book say about terms of engagement?
What does the Red Book say about inspections?
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What does the Red Book say about reporting requirements?
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What are the differences between a desktop and a full valuation report?
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Tell me about how you ensure that information relied upon in your
valuation is appropriate and reliable?
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Sydenham Place, why did the client request a retrospective valuation for
February 2009?
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What are the potential issues with using comparable evidence that is currently on the market?
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Talk me through how you reached your projected market value.
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Why did you provide a projected market value?
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