What is a valuer?
A valuer is a professional who carries out inspections in order to help determine the current market value of property and/or land. The role of valuer can be undertaken by an estate agent or by an independent professional (often a qualified surveyor). Typically, they act on the instructions of a vendor (seller) or a lending institution who are considering funding the purchase.
Buyers may also appoint a valuer to conduct a property valuation if they are considering purchasing a property (known as a vendor survey), in addition to structural surveys that assess its physical condition. Local authorities can also use valuers to help establish council tax and rating levels. Valuers may also be appointed to undertake residual valuation of land, i.e. work out the value of land with development potential.
Valuers will typically produce a property valuation as a report, supplemented with photographs and plans. Some of the details that a valuer may record include:
- The location.
- Measurements of the building and site boundaries.
- The number of rooms, layout and fit out.
- The general condition of the building.
- Any significant improvements that have been made.
- Any structural defects.
- Any landscaping.
- Any planning or other restrictions.
- Any potential risks or opportunities.
For more information, see Property valuation.
NB RICS property measurement, 2nd edition, published by the Royal Institution of Chartered Surveyors (RICS) in January 2018, defines a valuer as: ‘A Service Provider with an appropriate professional qualification in valuation or appraisal.’
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Listed despite problems with its design.
Zen and the art of cycling exploration.
Design Council Homes Taskforce launched
To support government 1.5 million homes target within UK climate commitments.
The story of this knowledge quarter building.
In ecology, in hydrology, in biology and in architecture.
Creating environments that promote physical, mental, and social well-being.
UK cases of neutral current diversion
Research project looks for example contributions.
Overstocking and macro-economics cause a decline.
The 2024 update of the Common Assessment Standard
Demonstrating organisational capability’ to fulfil roles under the Building Safety Act.
56 recommendations for a better built environment
Published by the CIC ahead of the King’s Speech.
SkillELECTRIC Top 8 Competitors Named
in annual search for the UK’s best student electrician.
CIOB Diversity and Inclusion technical information sheet
Step-by-step guide on implementing D and I practices.
Conservation and the Indian City. Book review.
Reversibility in conservation ethics
Learning from painting conservation.
Where It's AT Podcast launched!
New CIAT Architectural Technology Podcast goes live.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.