This course is designed for practicing residential valuers who regularly undertake valuations for lending purposes and want to ensure that their valuation reports comply with the Red Book whilst ensuring the bank receive all the information needed for mortgage approval.
- State the purpose of the Red Book
- List the main contents
- Describe how to use the Red Book
- Understand the global application of the Red Book
- Identify the bases of valuation to be used
- Locate the relevant appropriate professional guidance
Who Should Attend
- Commercial Valuers
- Residential Valuers
- Professionals working with Valuers: Administrator, Marketing
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Pre-Class Reading Material/Post Reading Material
Participants should access the RICS Valuation – Professional Standards (online version) from the RICS website and have a quick look at the content. An awareness of the document would be helpful.
Please visit http://www.rics.org/uk/knowledge/professional-guidance/red-book prior the session
A presentation based session interspersed with anecdotal insight and multi choice questions.
- Objectives/ agenda – this is what we will be doing and why
- Context for the Red Book
- Contents of the Red Book – things to think about (PS 1 &2 ), things to do (VPS 1-4)
- The international angle (IVS)
- Conflict case study
- Terms of Engagement
- Valuation bases
- Loan security case study