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