What Makes a Red Book Valuation Different from a Market Appraisal?
A Red Book Valuation is an independent assessment conducted by a RICS Registered Valuer, who prepares a formal report on the property's current market value. It is often confused with a "market appraisal," which is an informal opinion provided by estate agents, offering general estimates and guide prices for marketing purposes.
In contrast, a Red Book Valuation is a detailed, evidence-based assessment carried out by a certified expert, taking into account the property’s condition and local market knowledge to provide an accurate valuation.
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