GM BUSINESS connect
August/September 2019
property When is a valuation not a valuation? Oakwood Valuations Surveyors is a newly formed Altrincham based business covering the north west of England and North Wales. The man behind the firm is chartered surveyor and Registered Valuer Graham Bowcock. Graham has been advising clients on property matters in the area for over thirty years and has gained significant experience in a variety of property types.
Why the heading? “Occasionally clients are surprised that we make a charge for a valuation when some agents offer them for free. “However, there is a world of difference between what a sales agent offers as a valuation and a formal valuation that Oakwood undertakes. Sales agents are really providing sales appraisals, estimating what they think a property can sell for - these
may be hugely optimistic and, importantly, have no legal basis.”
detailed notes. This is all part of the process.”
A Red Book Report
What catches people out?
“Formal valuations are regulated by the Royal Institution of Chartered Surveyors (RICS) and are reasonably prescribed.
“As we live in a more compliant and litigious world, valuers will be looking for aspects of a property that may give cause for concern.
“The guidance is often known as The Red Book. This covers valuations done for tax planning, charities, SIPPS, probate, matrimonial and partnership dissolution.”
“These include the lack of planning consent for buildings and issues over access rights.”
Inspection “A valuer will want to inspect every aspect of a property and take measurements, but will not do a detailed building survey - such surveys may be undertaken at the same time, but a valuer will not necessarily do them. “Sometimes property owners are surprised that the valuer has to enter every room and take
The value of a valuation? “A formal valuation should result in a detailed report which is logical with the value clearly explained. “There should be a methodology and information on evidence. It can usually take a valuer a few days to complete such a report.”
Graham Bowcock MRICS
Expert Valuations & Property Advice In the north west & North Wales
Led by Chartered Surveyor Graham Bowcock with over thirty years experience in the area, Oakwood is committed to a professional service using RICS Registered Valuers.
PROPERTY VALUATION SERVICES
Valuations provided for agricultural, residential and commercial property as well as development land. All purposes including: taxation, matrimonial, partnership changes and disputes, purchase and compensation. RICS and court compliant reports.
LAND PROMOTION
Demand for development land has never been stronger. If you own land which may have development potential contact us for a no obligation appraisal. We can introduce land promoters and developers and negotiate terms on your behalf. Adding value to your farm.
Specialist charity valuations. Prompt agreed turn round times.
EXPERT WITNESS REPORTS
We can provide formal reports for Court purposes on a range of property related matters and also advise on dispute resolution.
CALL NOW FOR A NO OBLIGATION DISCUSSION ON YOUR REQUIREMENTS:
T: 0161 941 4228
E: graham.bowcock@oakwoodvaluations.co.uk
www.oakwoodvaluations.co.uk
23
