Red Book Valuation


What is a Red Book Valuation?


The Red Book valuation is a professional valuation of property or land carried out by an RICS registered surveyor. It provides a trusted, unbiased valuation report that adheres to stringent professional standards outlined in the Red Book itself.

Here is a short, beginner-friendly guide to Red Book valuations including what they are, when they are needed and how long they are valid for.

Red Book Valuation

Instant Red Book Valuation Quote


Red Book Valuation

Do I need a Red Book valuation for probate?

Yes. When a person passes away, their entire estate must be valued so that the executor of the will has the right to carry out the wishes of the deceased. This includes their money, property and their possessions. The valuation itself is known as a probate property valuation.

Although you’re not legally obliged to ask a valuation professional such as a chartered surveyor to carry out a Red Book assessment, HMRC strongly recommends that you do so. RICS registered surveyors are trusted and experienced professionals who must adhere to the standards set out by the Royal Institution and will ensure that you receive an accurate valuation.

You will need this report even if you’re planning to sell the property as you could be liable for Inheritance Tax if the value of the estate is above the current threshold.


How long does the Red Book valuation last?

The valuation report is valid for three months but it can be extended by an additional three months if required. This needs to be done within the first two weeks of the expiry date.

If you’re looking for a trusted valuation of a property or a building choose an RICS registered Valuer, such as Harding Chartered Surveyors. We aim to provide complete peace of mind and adhere to strict standards outlined by the RICS, providing you with a valuation report ideal for mortgages, probate, divorce, taxation purposes and accounting.

 


Why Harding Chartered Surveyors?

At Harding Chartered Surveyors, we aim to be direct, open, and honest. As members of the Royal Institution of Chartered Surveyors (RICS), we must abide by strict ethical standards.  We benchmark ourselves against the client feedback we receive. We deal with complex matters but interpret all the jargon for you to give you a common-sense opinion.

Our surveyors are always more than happy to spend time discussing matters with you. 

Our RICS Chartered Surveyors comply with stringent guidelines and use 60 years of combined experience to provide accurate Surveys, Red Book valuations, Party Wall Matters for residential property and commercial property in London and the surrounding areas.

Contact our professional and RICS registered valuers to arrange the valuations that will save you time and make the whole procedure smooth and easy.

Red Book Valuation

What is the purpose of a Red Book valuation?


By having a Red Book valuation, you can be sure that you are receiving an accurate valuation that is free from ambiguity or bias. The report will have been prepared to a high professional standard by the RICS Registered Valuer whilst adhering to good practice as per the guidelines set out in the red book.


Why would you need a Red Book valuation?


A Red Book valuation should be carried out whenever you need a formal valuation for tax purposes or legal proceedings.

Most commonly, Red Book valuations are required when buying a home. Many homebuyers also carry out property valuations as part of a building survey so they can have an accurate market value of the property.

However, this isn’t the only time a Red Book valuation may be required. It may also be required for the following circumstances:

  • Tax planning purposes
  • Calculating probate (see below)
  • Calculating Capital Gains Tax
  • Transferring assets into a SIPP pension fund
  • Court proceedings such as divorce (Matrimonial Valuation Report)
  • Shared ownership
  • Disputes being resolved through mediation or arbitration
  • Rent reviews or negotiations

Alex Durbidge
13:09 10 Jun 21
Professional, helpful, friendly, prompt, value-for-money. I cannot speak highly enough of their thoroughly excellent and efficient service - in particular I really commend Kate's quick and friendly service (I always heard back same day on any query), and Jason's thorough but clear survey (he also phoned me to talk through report as well as submitting formal in writing).
Umar Manzoor
03:11 02 Jun 21
A very helpful, competent and customer-oriented team. Thank you for a great job.
Ilian Walker
08:28 24 May 21
timely & friendly service. thank you
Vishal -
12:20 23 Apr 21
We received a a very detailed and informative survey report and were very happy with the service provided by the friendly and knowledgeable team!
Sara Thomas
09:07 19 Jan 21
The homebuyer's report carried out by Harding Chartered Surveyors was clear informative and timely. The level of detail was just what I needed in order to appreciate what the property needed doing and to help me with my decision to proceed with the purchase process.
Aimee Glensor
19:09 08 Jan 21
Really helpful, made the process easy and really efficient service even though it was over the holiday period. Would def recommend / use again
Claudio Mascolo
18:24 30 Nov 20
Kate is very responsive and also took time to advise me on the phone at the very beginning. Scott Ingham did our report. It was thorough and informative. Felt in safe professional hands throughout.
John Simmons
15:53 29 Oct 20
Martina Glaser
17:56 28 Oct 20
Scott completed a survey for me on a flat purchase and both he and Kate were great - very quick to respond, knowledgeable, thorough and happy to address any additional questions I had. Would definitely recommend and use them again.
Bene Walters
10:47 05 Oct 20
I requested Harding to provide a valuation for a lease extension. Albert Wellington was in charge of my property and he was extremely professional and helpful in addressing all my concerns. I would recommend him and the company with no hesitation.
Claire Brown
14:17 19 Aug 20
A very efficient, timely and thorough service for us, as we go through the house buying process. I'd definitely use them again.
Nicholas R.
10:05 23 Jul 20
Very satisfied with service. Report was delivered promptly and provided the information we needed.
Richard Denison Gay
14:49 02 Jun 20
Excellent service; professional, helpful, communicative and courteous as well as relatively quick. I would highly recommend.
Marianna Ciampa
14:25 30 Jan 20
Very efficient and professional. I had my survey few months ago before buying my house and I am still following the advice from the survey to fix and repair what needed. I dealt with Scott Ingham and I think he worked very accurately and checked everything very carefully. Highly recommended.
Amel Ahmed
16:15 13 Nov 19
Needed a valuation for a property purchase and can honestly say the service was 1st class from start to finish. Queries were dealt with promptly and followed up via telephone to make sure I was happy with the responses.The team are extremely knowledgeable.Thank you Kate, Albert, David and the rest of the team I will definitely use the company again.
Millie Jones
16:07 30 Oct 19
Harding's were great - very responsive, gave a very clear and detailed report and were happy to run through their comments with me over the phone.
Emma Goldschmidt
16:21 01 Oct 19
Brilliant thorough service!
Jennifer Smith
11:12 30 Aug 19
Harry Coaker
09:46 22 Aug 19
Dealt with James Brook, very efficient and professional, James had the report sent out to us within 24hrs. would highly recommend.
Karen Royal
21:33 14 Aug 19
David Good
10:34 20 Jul 19
Harding Chartered Surveyors are a very professional business who handled a challenging task for us with ease. I highly recommend them and will be using their services again.
Karen Ng
22:30 01 Jul 19
Very efficient service and very detailed report. We are very satisfied.
Lily Kwong
10:38 24 Jun 19
Really quick turn around and professional service.
Sue Hodgkins
16:42 20 Jun 19
Neill Ghosh
14:22 11 Jun 19
Have used for years and always been very happy. Competitive on service and always good on deadlines and quality. Recommended.
tom binks
17:56 09 Apr 19
Kevin Loughlin
20:27 28 Mar 19
The surveyor turned up on time as planned to survey the roof, both inside and out, then was happy to discuss it all with us afterwards. Bit tricky in high winds. Report arrived 2 days later, just what we needed. Professional and thorough. Recommended.
Jon Brennan
09:44 01 Mar 19
Quick, responsive and very thorough. Would definitely recommend Hardings to others, and will come back to them the next time I need a survey completed.
Abi and Andy La Fontaine
20:57 20 Feb 19
Quick, efficient and excellent service. Came as a recommendation from a friend and we’d happily recommend too.
Bradley Roth
01:56 16 Feb 19
Giulio Pepe
16:25 16 Dec 18
Thorough and professional surveyors. Very happy with their service. Highly recommended.
Margaret Rowley
16:09 03 Dec 18
Simon Wilson
15:54 10 Nov 18
Good, thorough, and promptly scheduled homebuyer survey in Fulham. The surveyor called me and explained everything clearly.
Daniel Vernazza
10:41 29 Apr 18
I highly recommend David. Very good technical knowledge. He was always available for our questions, which included a detailed call on the same day as the survey. The written survey report was clear, detailed and included pictures and estimates of the cost of repairs.
James Palairet
11:16 09 Jan 18
David gave us a fantastic service and has been a huge help during our property purchase process. We have had 2 surveys carried out, both of which were arranged very promptly. Thorough and extremely useful telephone calls and full written reports were received shortly afterwards. David's reports and advice have been invaluable to us.
Sarah Dixon
14:13 08 Jan 18
I have worked with David and his team as a buying agent for many years now. The service they offer is an excellent one, timely with a commonsensical approach. I would recommend them to anyone.
William Sharples
08:57 05 Oct 17
James provided a very professional and thorough service, highly recommended.
Elif Erdine
14:30 04 Oct 17
Very experienced firm and friendly staff. Highly recommended.