- Introduction
- Principal impact
- RICS Global Standards – Year dropped in title
- Global Standards – Introductory section
- Professional Standard 1 (PS1)
- Professional Standard 2 (PS2)
- Valuation Performance Standard 1
- Valuation Performance Standard 3
- Valuation Performance Standard 5
- Valuation Practice Guidance Application 1
- Valuation Practice Guidance Application 7
- Valuation Practice Guidance Application 8
- details what is to be included within an RICS compliant terms of engagement;
- describe the requirements of the RICS for the production of terms of engagement when required to value a property interest;
- describe the items that need to be included in the terms of engagement document;
- provide a standard template which can be adapted to individual cases, producing a consistent approach and good practice.
- detail what is required in terms of inspection and investigation
relating to a professional valuation
- describe the Revaluation
without re-inspection of real property previously valued
- detail which records to record and store
- detail what
is to be included within an RICS compliant valuation report
- understand and competently handle all matters that are to be included within an RICS compliant valuation report
- a full understanding of what the bases of value for a given valuation should be
- know how to handle assumptions and special assumptions when needed for a valuation
- understand the application of IVS 105 Valuation Approaches and Methods and be able to implement it for individual cases
- a full understanding of what the compliance responsibilities of the valuer are for valuations of property, assets and liabilities which are to be included in financial statements
- gain a full understanding of what the compliance responsibilities of the valuer are for valuations of property, assets and liabilities which are to be used for secured lending.
This module provides guidelines and detail to valuers when carrying out valuations of businesses and business interests.
Chapter summary:
- Scope
- Scope of work and terms of engagement
- Business and business interests
- Information
- Valuation investigation
- Valuation approaches and methodology
- Reports
- Confidentiality
- Background
- Terms used
- Profits method of valuation
- Valuation special assumptions
- Valuation approach for a fully equipped operational entity
- Assessing the trading potential
- Valuation approach for a non-trading property
- Apportionment
- Valuation for investment purposes
- Scope
- Background
- Plant and equipment usually included in valuations of the property interest
- Plant and equipment separately valued
- Plant and equipment subject to finance, lease and collateral agreements
- Material considerations
- Regulatory measures
- Scope
- Introduction
- Terms of engagement
- Valuation concepts
- Valuation due diligence
- Valuation approaches
- Present value techniques
- Reports
- Confidentiality
- Introduction and Scope
- Terms of Engagement
- Identifying the Market
- Inspection, Research and Analysis
- Valuation
- Reports
Upon completion of this module you should have a full understanding of what the compliance responsibilities of the valuer are for valuing real property interests.
- Aims and learning outcomes
- Scope
- Examples where specific clarification of the lotting assumption needs to be made
- Valuation purpose and lot identification within the portfolio identifying the Market
- Scope
- Examples
- Reporting