Our Valuation Methodology has followed the RICS Valuations- Professional Standards January 2014, which is also compliant with International Valuation Standards. Normally, we provide the” Market Value” as the basis of valuation. However, at the request of our bank partner, we can provide the estimate of forced Sale Value and Fire Insurance value. (RICS = Royal Institute of Chartered Surveyors, based in UK)
Generally, we apply three broad approaches to valuation: (i) Market or Sale Comparison Approach, (ii) Cost Approach, and (iii) Income Approach.
An approach to value is included or omitted based on its applicability to the property type being appraised and the quality and quantity of information available.