Projects with Valos
Valos is a company based in the UK which provides valuation firms with automated tools for searching and collating stautory and other information about specific properties and creating bespoke valuation reports.
We are delighted to have worked with Valos on a number of projects where we can assist their clients in ensuring the documents created comply with RICS standards and reflect current Best Practice guidance for diffence valuation purposes. We have also produced checklists so that any firm can check their existing documentation for compliance, below.
Terms of Engagement
This document goes through all the matters that RICS members and firms must include in their Terms of Engagement for valuation work, but presents them in a more logical way, grouping related matters togther and most significantly separating matters that will normally be the same for every instruction and those that will need to be confirmed for each job. This makes it easier for a firm to create fixed terms that will always apply unless specifically agreed otherwise with all variable matters dealt with in a covering letter.
Report Checklist
RICS list eighteen matters that must normally be included in a valuation report. These range from a simple single item, such as the valuation date, to more complex requirements with multiple components. They are not logically ordered in the standards, simply appearing in the chronlogical order in which they were introduced. These means that they neither reflect the order in which matters should appear in the report nor put related matters together in way that would be helpful for both valuer and reader. To help valuers design their reports and check for compliance in this checklist we group the requirements into the following sections:
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What has been valued for whom and why.
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Who has done the valuation.
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What has been done.
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The valuation conclusion.