When you need a valuation that can be relied upon by third parties—such as solicitors, accountants, lenders, trustees, HMRC, or the courts—clarity and consistency matter. That’s why we provide RICS “Red Book” valuations, prepared in line with the RICS Valuation – Global Standards (effective 31 January 2025).
A Red Book valuation isn’t just a price opinion. It is a structured, evidence-led report produced under a recognised professional standard, with clear definitions of value, transparent assumptions, and robust documentation that supports the figure reached.
What is a “Red Book” valuation?
“Red Book” is the common name for the RICS Valuation – Global Standards. It sets out:
- mandatory professional requirements for valuations
- expectations around independence and objectivity
- a consistent approach to reporting, evidence, and record keeping
- clear rules on conflicts of interest, transparency, and quality assurance
In practical terms, a Red Book valuation gives clients comfort that the valuation is prepared to a recognised benchmark—particularly important when the figure may be questioned, relied upon, or scrutinised.
Why clients choose a Red Book valuation
A Red Book valuation is often the right choice when you need a report that is:
- defensible (supported by evidence and clear reasoning)
- transparent (assumptions, limitations, and methodology are clearly stated)
- consistent (prepared using a recognised framework, not informal estimation)
- suitable for reliance by professional advisers and institutions
It can also help reduce disputes by providing an independent anchor figure where parties may otherwise argue over value.
Common uses for Red Book valuations
Clients typically request Red Book valuations for:
- probate and Inheritance Tax reporting (including date-of-death valuations)
- divorce/separation and other family-related financial matters
- Capital Gains Tax and other tax-related reporting (including retrospective dates)
- court proceedings where value needs to be formally evidenced
- buyouts and transfers of equity between parties
- trusts, estate planning, and portfolio reporting
- situations where a valuation needs to be relied upon by third parties and not treated as a marketing figure
What you can expect from our Red Book valuation reports
While the exact content depends on the instruction and property type, a Red Book valuation will typically include:
Clear instruction and valuation framework
- the purpose of the valuation and who may rely on it
- the valuation date (current or retrospective)
- the basis of value and any required definitions
- any special assumptions (if relevant and agreed)
Property and market analysis
- a detailed description of the property, accommodation, key attributes, and limitations
- consideration of condition and any visible factors affecting saleability
- local market context relevant to the valuation date
Evidence-led valuation methodology
- analysis of comparable market evidence (typically sold prices for residential)
- adjustments for differences such as size, condition, location nuances, outside space, parking, floor level/lift (for flats), and other relevant drivers
- a reasoned, explained conclusion—so the figure is not “mysterious” or hard to follow
Transparency and professional safeguards
- confirmation of assumptions and limitations (e.g., access restrictions, documentation relied upon)
- clarity on tenure/leasehold influences where applicable (lease term, service charge, ground rent, major works exposure)
- appropriate statements around independence, conflicts, and professional compliance
How the process typically works
- Brief and scope – we confirm purpose, valuation date, intended reliance, property type, and any specific requirements
- Information gathering – key details such as tenure/lease information (for flats), recent works, and known issues
- Inspection – as instructed, to understand layout, condition, and saleability factors
- Market evidence research – comparable sales analysis and local market review
- Reporting – delivery of a clear, professional valuation report aligned with Red Book standards (effective 31 January 2025)
Why “effective 31 January 2025” matters
RICS standards evolve. Referencing the effective date shows the valuation is aligned with the current edition of the RICS Valuation – Global Standards applicable from 31 January 2025, helping ensure the report reflects up-to-date expectations around reporting, compliance, and professional practice.
Speak to us about a Red Book valuation
If you need a RICS Red Book valuation—whether for probate, tax, divorce, court proceedings, or a private transaction—get in touch and we’ll advise the most suitable approach.
Email: mail@howorth.uk
Call: 07794 400 212