What Do Surveyors Mean by a Red Book Valuation and When Would You Need One?
If you have encountered the term ‘Red Book Valuation’ without really understanding what it means, this article will provide some useful insights. Red Book valuations play an important role in the property market, providing formal and in-depth assessments of a property’s value for the purpose of buying and selling, but also for inheritance, tax, litigation and financial accounting purposes. But wait, don’t estate agents provide property valuations? Well, yes and no – and that is where a lot of confusion can arise.