Why is property inspection important in valuation?
It ensures the valuation reflects the property’s actual physical characteristics, condition, layout, and location. It helps identify factors like disrepair, extensions, or obsolescence that may affect value.
What are the key elements you look for during an inspection?
Property type, layout, floor areas, construction materials, condition, services, access, location, and any physical or environmental factors that may impact value.
What tools or equipment do you use during an inspection?
Laser measurer, tape measure, camera, floor plans, PPE, and a tablet or notebook for recording notes. GIS and mapping tools are also used pre- and post-inspection.
What health and safety considerations do you take into account before inspecting a property?
I conduct a dynamic risk assessment, consider lone working protocols, check for hazardous materials (e.g., asbestos), and ensure appropriate PPE is worn. I also review any known site-specific risks.
How do you prepare for a property inspection?
I review background information such as previous valuations, maps, planning history, and aerial imagery. I check access arrangements and ensure I have the necessary equipment and PPE.
What is the difference between internal and external inspection?
External inspection assesses the building’s exterior, site boundaries, and surroundings. Internal inspection involves measuring and assessing the layout, condition, and services of the interior spaces.
What is a measured survey and when is it required?
A measured survey involves taking detailed measurements to produce accurate floor plans or calculate areas. It’s required when no reliable plans exist or when precise area data is needed for valuation.
What is the RICS guidance on measurement?
RICS provides guidance through the RICS Property Measurement professional statement, which mandates the use of IPMS for office buildings and recommends it for others.
What is IPMS and why is it important?
IPMS standardises how property is measured globally, ensuring consistency and transparency. It helps clients compare properties across markets and improves valuation accuracy.
What are the different types of measurement standards?
IPMS, GIA (Gross Internal Area), NIA (Net Internal Area), and GEA (Gross External Area). The choice depends on property type and valuation purpose.
How do you record and store inspection data?
I record data using digital forms or notebooks, take photographs, and upload information to secure systems like EDRM or bespoke VOA databases, ensuring GDPR compliance.
What are the limitations of a visual inspection?
Visual inspections may not reveal hidden defects like subsidence, damp, or structural issues. They also rely on access being granted to all areas.
How do you deal with restricted access during an inspection?
I note any limitations in my report, use external observations or previous data where appropriate, and may recommend a reinspection or specialist input if necessary.
What is the role of inspection in Council Tax banding?
Inspection helps determine the size, layout, and quality of a dwelling, which are key factors in assessing the appropriate Council Tax band based on 1991 values.
How does inspection support Non-Domestic Rating valuations?
It provides evidence of floor areas, layout, use, and condition, which are essential for applying the correct valuation scheme and ensuring fair and accurate Rateable Values.
What is a Schedule of Accommodation and when is it used?
It’s a detailed list of rooms and areas within a property, often used in DVS valuations or complex NDR cases to support valuation and reporting.
What are the key differences in inspecting residential vs commercial property?
Residential inspections focus on layout, amenities, and condition, while commercial inspections also consider use class, services, compliance, and occupational layout.
What is a photographic schedule and why is it useful?
It’s a series of labelled photographs taken during inspection to document condition, layout, and features. It supports valuation and can be used as evidence in disputes.
What is a Red Book valuation and how does inspection fit into it?
A Red Book valuation is an RICS-compliant valuation. Inspection is a key part of the process, ensuring the valuer has sufficient knowledge of the property to make a reliable judgment.
How do you ensure consistency in inspections across different properties?
By following standard templates, checklists, and RICS guidance, and by applying consistent measurement and recording practices.
What are the risks of not inspecting a property before valuation?
Risks include inaccurate valuations, missed defects or features, professional negligence, and reputational damage.
What is a desktop inspection and when might it be appropriate?
A desktop inspection uses existing data, maps, and imagery without visiting the site. It may be appropriate for low-risk cases or where physical access is not possible.
How do you verify the accuracy of measurements taken during inspection?
I cross-check with existing plans, use calibrated equipment, and remeasure if necessary. I also compare with GIS data or previous inspections.
What is the role of inspection in identifying material change of circumstances (MCCs)?
Inspection helps identify physical changes to a property or its locality that may warrant a change in Rateable Value, such as demolition, redevelopment, or access issues.