Property Valuation
These Terms of Engagement are available for use by valuers and their clients if supplemented
by the information indicated in them.
1 The purpose of the valuation shall be agreed between the Client and the Valuer.
2 The subject, including treatment of fixtures and fittings, and tenure (Freehold/Leasehold) of
the property to be valued shall be agreed as with the Client.
3 Unless otherwise agreed, the basis/bases of valuation to be provided will be as prescribed
by the RICS Appraisal and Valuation Manual and agreed/confirmed in writing by the Valuer to
the Client before the Report is issued, along with any special assumptions relating to the
basis/bases.
4 Subject to paragraphs 6 and 7 below, the Valuer shall carry out such inspections and
investigations as are, in the Valuer’s professional judgement, appropriate and possible in
the particular circumstances.
5 The Valuer shall rely upon information provided by the Client or the clients legal or other
professional advisers relating to tenure, tenancies and all other relevant matters.
6 The Valuer will have regard to the apparent state of repair and condition of the property
but will not carry out a building survey nor inspect those parts of the property which are
covered, unexposed or inaccessible. Such parts will be assumed to be in good repair and
condition. The Valuer will not be under a duty to arrange for the testing of electrical,
heating or other services.
7 In reporting, the Valuer will meet the relevant requirements of the RICS Appraisal and
Valuation Manual and will make the following assumptions, which he/she will be under no
duty to verify:
a) that no harmful or hazardous materials including but not limited to asbestos based materials
have been used in the construction of the property nor has since been incorporated, and
that there is no contamination in or from the ground, and it is not land filled ground;
b) that good title can be shown and that the property is not subject to any unusual or
especially onerous restrictions, encumbrances or outgoing;
c) that the property and its value are unaffected by any matters which would be revealed
by a local search and replies to the unusual enquires, or by any statutory notice, and that neither
the property nor its condition, or its use, or its intended use, is or will be unlawful.
d) that inspection of those parts that have not been inspected would neither reveal material
defects nor cause the valuer to alter the valuation(s) materially; and
e) that no radon gas is present at the property.
The Report will be provided for the stated purpose(s) and for the sole use of the named
Client. It will be confidential to the Client and the Client’s professional advisers. The Valuer accepts
responsibility to the Client alone that the Report will be prepared with the skill, care
and diligence
reasonable to be expected of a competent Valuer, and accepts no responsibility
whatsoever to any parties other than the Client. Any such parties rely on the Report at their own
risk. Neither the whole nor any part of the report, nor any reference to it, may be included
in any published document, circular or statement, or published in any way, without the valuers
written approval of the form and context in which it may appear.
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