Defvas Project

In Partnership with TEGoVA and the IRRV

EUROPEAN VALUATION STANDARD – 5 REPORTING THE VALUATION

Defvas Project

In Partnership with TEGoVA and the IRRV

INTRODUCTION

• Clearly and effectively conveyed to the client

• The document on which the client will rely in taking

decisions

• Important that it be exact

• Qualifications to which it is subject

Defvas Project

In Partnership with TEGoVA and the IRRV

SCOPE

• Reviews the Valuation report

• The Valuer advises the client of the value determined

Defvas Project

In Partnership with TEGoVA and the IRRV

VALUATION REPORTING

• The market value shall be documented in a transparent

and clear manner

• The mortgage lending value shall be documented in a

transparent and clear manner

• A clear and unequivocal opinion

• Writing, prepared and presented in a reliable and comprehensive

manner

• The valuer’s qualification

• Relevant details of the property

• Assumptions that have been made

• The property being valued is affected by uncertainty

Defvas Project

In Partnership with TEGoVA and the IRRV

VALUATION REPORT OR CERTIFICATE

• Instruction for the assignment

• The basis and purpose of the valuation

• That a valuer must certify the amount of the valuation

of the property

• The report or certificate must not be ambiguous

• The report or certificate must be objective

• The form and detail of the report or certificate used will

be a matter of the valuer’s discretion

• Draft reports

Defvas Project

In Partnership with TEGoVA and the IRRV

CONTENTS OF THE VALUATION REPORT

• The valuation report should include:

• A description of the property, including a note as to the

basis on which areas have been measured

• A summary of the legal context (tenure, tenancies, development

control, etc)

• A commentary on the market of the property

• A description of the valuation methodology and analysis

• Valuer should confirm whether in undertaking the instruction he

has became aware of matters that could affect the figures reported

• Value added tax