All surveys and valuations will be undertaken by a Chartered Surveyor with a minimum of two years post qualification experience and relevant knowledge and experience of the type of work and local area. Spotlight Surveyors is registerd by the RICS (registration no. 048966)

GUIDANCE NOTES FOR CLIENTS – VALUATION DEFINITIONS

The most commonly used basis of valuation is Market Value which is described below.

This is more fully defined in Practice Statement 3 within The RICS Valuation Standards 6th Edition.

MARKET VALUE (MV)

The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.