RICS valuation for Matrimonial Purposes

Residential Valuations

We carry out all types of residential valuations for a variety of clients, whether it be for homebuyers, homeowners, solicitors, individuals, housing associations, corporate clients or developers.

There are many other reasons why you made need a Residential Valuation. It could be buying a property, matrimonial purposes, a lease extension, building insurance, re-instatement cost, taxation, probate purposes, investment, auction acquisitions, shared ownership, audits, Help to Buy loan redemption and staircasing, freehold acquisition and so the list goes on.

Many valuations are referred to as ‘Red Book’ valuations. These are valuations based on the Royal Institution of Chartered Surveyors (RICS) Professional Standards which contain the mandatory practises for chartered surveyors undertaking valuation services. The vast majority of property valuations are Red Book valuations and will be unless specifically specified/detailed otherwise. The Red Book requirements include the International Valuation Standards 2020.

All our residential valuations are carried out by RICS registered valuers.

RICS Valuations for Matrimonial purposes

A valuation for matrimonial purposes aims to provide a Market Valuation at a specific date which can be used to decide how joint property assets are divided between parties involved in divorce proceedings.

The valuation can be undertaken acting for either party or jointly.

The valuations complies with the specification set out in the RICS Valuation – Professional Standards, Global and UK (the 'Red Book') 2020 – incorporating the International Valuation Standards (IVSC) 2020, based on the statutory definition for Market Value.

On the basis that the matter can be resolved without court procedures the valuation can be provided in a standard market valuation format. This will describe the basis of value, the assumptions made, the construction type, tenure, location, accommodation, brief description of the grounds, main lease terms (if applicable and the market valuation bases on a specific date.

If however a valuation is required for court procedures the report will need to be far more detailed and comply with part 5 of the Civil Procedure Rules (CPR) 1998 as well as the Red Book requirements.

To book an appointment for properties in Kent please contact our Head Office on 01732 752099 or for properties in London on 020 80579890 or by e-mail to office@selkentsurveyors.co.uk