What is a RICS valuation?
It is one of the most widely used professional standards in the real estate sector. The acronym RICS corresponds to the term Royal Institution of Chartered Surveyors, which is the most prestigious organization of real estate professionals in the world.
RICS valuations are useful to businesses and individuals alike, offering independent advice to governments and organizations worldwide.
When a property valuation is to be requested, the RICS standards are used to follow reliable parameters that can be compared with reality through the use of impartial and objective information.
What is a RICS valuation for?
In terms of financing: RICS reports are required by international financial entities and by national entities as a complement to ECO appraisals.
Calculation of the value in purchase and sale operations: acquisitions, sales, and rental. Being able to know the potential risks of the purchase and those factors that affect the value of a property.
Valuation of portfolios and Due Diligence: analyze a specific asset (land or buildings) to identify possible risks that could harm the interests of the acquirer or buyer.
Valuations for accounting and tax purposes: The RICS report can be used to support accounting values.
At Valmesa we work to solve all your doubts about RICS valuations.
Request now more information about the RICS valuation:
We will be happy to help you and apply the RICS standards in your valuation.
When to request a RICS valuation or an ECO valuation?
Depending on its purpose and scope of action: appraisals are used in purchase and sale transactions for mortgage or market purposes. And they can only be carried out by a company approved by the Bank of Spain (Appraiser).
On the other hand, the RICS valuations used in international markets are governed by the “International Valuation Standards Council. IVSC” (International Valuation Standards) and are focused on individuals, companies or government entities.