Giving confidence that all the correct procedures have been followed and the valuation will stand up to any scrutiny it may face. A Red Book valuation is designed to ensure high standards are maintained throughout the valuation process, from inspection to presentation. By issuing a Red Book Valuation, the valuer’s qualifications and the minimum content of the valuation report are guaranteed.

For a valuation to be a Red Book valuation, it must be undertaken by a RICS registered surveyor who is a member of the Valuation Registration scheme, a risk monitoring and quality assurance programme that checks compliance with the RICS Red Book. It is also designed to stand the test of time, so it can be referred back to if needed, for example, if historical values are needed during probate.

In addition, a Red Book valuation is often requested by the solicitor or accountant where formal legal proceedings or tax calculations are involved, such as in a property dispute, a shared ownership purchase, a divorce case, as part of company accounting, partnership dissolution or compulsory purchase. Regulated by RICS | Novello Chartered Surveyors is the trading name for Novello Surveyors LTD (Company No. It covers ethics, duty of care, the valuer’s qualifications, and the minimum content of a valuation report.

Most won’t show you the valuation outcome, which is why it’s always advised that you carry out your own valuation and survey.

While it doesn’t dictate what valuation methods should be used, the Red Book does set out the standards that valuers should follow.