Market Valuation

A Market Valuation provides an objective and independent assessment of a property’s current open market value. These valuations are required for many purposes, including property purchase, sale, matrimonial proceedings, legal disputes, Capital Gains Tax and Inheritance Tax. All valuations are carried out in accordance with the RICS Valuation – Global Standards (Red Book) and the UK National Supplement, and are undertaken by a RICS Registered Valuer.

A Market Valuation can also be added as an appendix to Level 2 and Level 3 Home Surveys where required, providing a compliant Red Book valuation alongside the building inspection.

Inheritance Tax (IHT) / Probate Valuation

An IHT valuation is a formal valuation required following a death to calculate the tax liability of an estate. These valuations are prepared in accordance with UKGN 3 and must follow the statutory basis set out in Section 160 of the Inheritance Tax Act 1984. This definition differs from standard market value, including the treatment of “special purchaser.” The valuation must reflect the value at the date of death. Estate agent appraisals are not acceptable for probate purposes.

Capital Gains Tax (CGT) Valuation

CGT valuations are required when calculating taxable gains upon the disposal of a property. These are formal valuations prepared in line with UKGN 3, using the valuation basis defined in Section 272 of the Taxation of Chargeable Gains Act 1992. CGT valuations are often retrospective and may require valuation at several past dates, sometimes involving changes in condition, layout or occupancy at those times. These instructions are frequently complex and benefit from experienced professional input.

Help to Buy: Equity Loan Valuation

When owners wish to repay (or “staircase out” of) their Help to Buy Equity Loan, or when selling a property purchased under the scheme, an independent RICS valuation is required. This valuation determines the current open market value used to calculate the redemption amount due to Homes England.

The valuation must follow strict criteria set by Target HCA, who administer the scheme. The property must be valued at prevailing open market value, and Homes England will not release its charge for a sale below that value. Cowie Consulting meets Target’s independence requirements and has extensive experience in Help to Buy valuations across the region.

Matrimonial Valuation

A matrimonial valuation is required in divorce proceedings or financial settlement discussions where an impartial assessment of a property’s value is needed. These valuations are prepared in accordance with Red Book standards and can form part of mediation, negotiation, or Expert Witness instructions where mandated by the court.

Legal Dispute Valuation

These valuations are required where the value of a property forms part of a legal disagreement. This may include boundary issues, professional negligence cases, contractual disputes, or other litigation. Reports are fully Red Book compliant and can be prepared for a single party or jointly between parties.

Insurance Reinstatement Valuation

A reinstatement valuation establishes the cost of rebuilding a property for insurance purposes. This figure frequently exceeds the property’s market value and includes demolition, professional fees, construction costs, external works, drainage, and site-specific factors. Underinsurance is common and can lead to significant shortfalls in the event of a claim, making a professional reinstatement assessment essential.