Valuation Report/2nd Opinion

This document is commissioned to check the reliability of a first opinion of value report. It is a form of due-diligence conducted by another valuer, than the one assigned to the first valuation to avoid conflict of interest and insure that the first appraisal report has been properly and objectively conducted in line with Red Book RICS valuation standards. In analysing the initial report, it is necessary to understand the basis of value used and the presence of specific assumptions or departures made by the valuer.

The concise report encapsulates the property description, location, interest valued, owner, operator and the value arrived at in the 1st Opinion of Value report. The valuation methodology and market analysis are thoroughly examined and scrutinised if an error or flawed valuation procedure has been identified. If deemed in order and properly conducted, the Chartered Surveyor acknowledges that professional standards have been met and that market or fair value arrived at in the 1st Opinion of Value report is acceptable.