EUROPEAN VALUATION STANDARD 5 REPORTING THE VALUATION

EUROPEAN VALUATION STANDARD – 5 REPORTING THE VALUATION Defvas Project In Partnership with TEGo. VA 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 TEGo. VA and the IRRV

SCOPE • Reviews the Valuation report • The Valuer advises the client of the value determined Defvas Project In Partnership with TEGo. VA 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 TEGo. VA 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 TEGo. VA 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 Defvas Project In Partnership with TEGo. VA and the IRRV