Residential property appraisal: Volume 1 Valuation and law
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London
Routledge
2022
|
| Ausgabe: | Second edition |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | viii, 171 Seiten |
| ISBN: | 9780367419615 9780367419622 |
Internformat
MARC
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| 245 | 1 | 0 | |a Residential property appraisal |n Volume 1 |p Valuation and law |c Chris Rispin, Fiona Haggett, Carrie de Silva, Phil Parnham and Larry Russen |
| 250 | |a Second edition | ||
| 264 | 1 | |a London |b Routledge |c 2022 | |
| 300 | |a viii, 171 Seiten | ||
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Datensatz im Suchindex
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| adam_text | Contents Preface Notes on the text Acknowledgements 1 Introduction 1.1 1.2 1.3 1.4 1.5 1.6 įx ХІ xii 1 Context 1 Objectives of the book 3 Definitions 3 Who this book is for 4 The philosophy of the book 4 Contents of the book 5 2 Overview of the valuation of residential property 6 2.1 Introduction 6 2.2 Value 6 2.2.1 What is value? 6 2.2.2 The elements of value 10 2.2.3 An interpretation of the extent and nature of the interest 12 2.3 Equipment 13 2.3.1 Valuation equipment 14 2.3.2 Additional equipment for a more detailed inspection 14 2.3.3 Equipment for simple‘opening up’ 14 2.3.4 Health and safety equipment 15 3 The economics of property valuation 16 3.1 Introduction 16 3.2 Supply and demand 16 3.2.1 Brief historical analysis of the residential property market 18 3.2.2 Government and other interventions in the market 20 3.2.3 Microeconomics and macroeconomics 21 4 Law for valuers: an overview 4.1 Terminology 22 4.2 Finding the law 23 4.2.1 Legislation 23 22
vi Contents 4.2.2 Legislative process 24 4.2.3 Delegated legislation 24 4.2.4 Cases 25 4.3 Legal disputes 25 4.3.1 Courts and tribunals 25 4.3.2 Alternative Dispute Resolution (ADR) 27 4.3.3 Particular situations 28 4.4 Professional roles 29 5 Law for valuers: land, contract and tort 32 5.1 Land 32 5.1.1 ‘land of any tenure’ 32 5.1.2 Other interests in land 35 5.1.3 Easements 38 5.1.4 Restrictive covenants 40 5.1.5 Wayleaves 41 5.1.6 Boundaries 41 5.1.7 Registered land 42 5.1.8 Adverse possession (squatters’rights) 43 5.2 Contract law 43 5.2.1 Basic structure 43 5.2.2 Terms 45 5.2.3 Estate agency and surveying practices 45 5.2.4 Off premises contracts 46 5.2.5 Consumer contracts 47 5.2.6 Business-to-business contracts 47 5.2.7 Construction 47 5.3 Tort 48 5.3.1 Negligence 48 5.3.2 Is a duty of care owed for purely financial loss? 48 5.3.3 To whom is a duty of care owed? 49 5.3.4 Breach of duty of care 50 5.3.5 Resultant damage 51 5.3.6 Measure of damages 52 6 The mortgage valuation 54 6.1 An overview 54 6.1.1 The lender’s view 54 6.1.2 The purchaser’s view 55 6.2 Future issues 56 7 The RICS Red Book and Regulation 57 7.1 The Red Book 57 7.1.1 Bases of value for mortgage valuations (VPS 4 and UK VPGA 11.2) 58 7.1.2 Assumptions and Special Assumptions (VPS4, UK VPGA 11.3) 59 7.1.3 Valuer Registration (VR) 60 7.1.4 Insurance and valuations 61 8 The valuation process 8.1 The valuation appraisal process: overview 63 63
Contents vii 8.1.1 Pre-inspection research 63 8.1.2 Purpose of valuation 64 8.1.3 Express requirements 64 8.1.4 Report format 64 8.1.5 Terms of engagement 64 8.1.6 Conflicts of interest 65 8.1.7 Log onto database 65 8.2 Pre-inspection investigations 66 8.2.1 Desk-top study 66 8.2.2 Neighbourhood 67 8.2.3 Tone of value 68 8.2.4 Property details 68 8.2.5 Property details - legal issues 69 8.2.6 Competence 69 8.3 On site 69 8.3.1 Location 69 8.3.2 Inspection 70 8.3.3 Site notes 72 8.3.4 Setting the scene with the occupier 74 8.3.5 Inspection procedure 75 8.3.6 Inspecting flats and maisonettes 76 8.3.7 Personal safety 76 8.3.8 How long should it take to do a valuation? 77 8.3.9 Referrals 77 8.4 Post-inspection comparables and reporting 78 8.4.1 Research comparables 78 8.4.2 Analysis of comparables 79 8.4.3 How to use the information 80 8.4.4 Market analysis 81 8.4.5 Calculations of price, worth and value 83 8.4.6 Comparing transactions 83 8.4.7 Comparing condition 92 8.4.8 Comments on the comparable spreadsheet ֊ a rationale 93 8.4.9 A review of factors that affect value 103 8.4.10 Home improvements and value 103 9 Reporting on condition and value for a residential mortgage 106 9.1 Reporting overview 106 9.1.1 General remarks in reports 106 9.1.2 Reporting on condition 108 9.1.3 Distinction between lender and purchaser 109 10 Alternative valuation methods and approaches 10.1 Overview 113 10.2 The Residual approach 113 10.2.1 Key factors in undertaking a Residual valuation 115 10.3 The Investment approach to valuation 116 10.3.1 Residential investment as buy-to-let categories
120 10.3.2 Receipt of instruction 121 10.3.3 Valuation of single-family occupancy properties 121 10.3.4 Valuation of Homes in Multiple Occupation (HMOs) 121 113
viii Contents 10.3.5 Alternative income approach valuation methods 123 10.4 Leasehold properties 123 10.5 New build property valuation 126 10.5.1 Drivers of value in new build houses 127 10.5.2 Inspection of new build properties 128 10.5.3 Comparable evidence 129 10.5.4 Assessing value 129 10.5.5 Valuation considerations 131 10.5.6 Permitted development rights 131 10.5.7 Development potential 134 10.5.8 The influence of buy-to-let on new build values 135 10.6 Specialist valuations 135 10.7 Valuing in periods of uncertainty 136 10.8 Technology and valuation 137 10.8.1 Overview 137 10.8.2 Recording of information 138 10.8.3 Desk-top reviews and research 138 10.8.4 Desk-top valuations 138 10.9 What is an AVM? 139 10.9.1 Use of data 140 10.9.2 Mass use of data 141 11 Additional legal matters 142 11.1 Overview 142 11.1.1 Nuisance 142 11.1.2 Trespass 143 11.2 Crime 144 11.2.1 Health and safety 144 11.2.2 Bribery 145 11.2.3 Fraud 146 11.2.4 Money laundering 147 11.3 Types of business 148 11.3.1 Sole trader 148 11.3.2 Partnership 148 11.3.2 Limited company 148 11.3.3 Limited liability partnership 149 11.3.4 Other business forms 149 11.4 General Data Protection Regulation (GDPR) 149 11.5 Equality 150 12 Valuing in the UK: the future and conclusion 12.1 12.2 12.3 12.4 152 Overview 152 The influence of the courts, fraudsters and mortgages 152 The future ֊ technology, risk and information 153 The example offlats 154 References Index 158 164
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| adam_txt |
Contents Preface Notes on the text Acknowledgements 1 Introduction 1.1 1.2 1.3 1.4 1.5 1.6 įx ХІ xii 1 Context 1 Objectives of the book 3 Definitions 3 Who this book is for 4 The philosophy of the book 4 Contents of the book 5 2 Overview of the valuation of residential property 6 2.1 Introduction 6 2.2 Value 6 2.2.1 What is value? 6 2.2.2 The elements of value 10 2.2.3 An interpretation of the extent and nature of the interest 12 2.3 Equipment 13 2.3.1 Valuation equipment 14 2.3.2 Additional equipment for a more detailed inspection 14 2.3.3 Equipment for simple‘opening up’ 14 2.3.4 Health and safety equipment 15 3 The economics of property valuation 16 3.1 Introduction 16 3.2 Supply and demand 16 3.2.1 Brief historical analysis of the residential property market 18 3.2.2 Government and other interventions in the market 20 3.2.3 Microeconomics and macroeconomics 21 4 Law for valuers: an overview 4.1 Terminology 22 4.2 Finding the law 23 4.2.1 Legislation 23 22
vi Contents 4.2.2 Legislative process 24 4.2.3 Delegated legislation 24 4.2.4 Cases 25 4.3 Legal disputes 25 4.3.1 Courts and tribunals 25 4.3.2 Alternative Dispute Resolution (ADR) 27 4.3.3 Particular situations 28 4.4 Professional roles 29 5 Law for valuers: land, contract and tort 32 5.1 Land 32 5.1.1 ‘land of any tenure’ 32 5.1.2 Other interests in land 35 5.1.3 Easements 38 5.1.4 Restrictive covenants 40 5.1.5 Wayleaves 41 5.1.6 Boundaries 41 5.1.7 Registered land 42 5.1.8 Adverse possession (squatters’rights) 43 5.2 Contract law 43 5.2.1 Basic structure 43 5.2.2 Terms 45 5.2.3 Estate agency and surveying practices 45 5.2.4 Off premises contracts 46 5.2.5 Consumer contracts 47 5.2.6 Business-to-business contracts 47 5.2.7 Construction 47 5.3 Tort 48 5.3.1 Negligence 48 5.3.2 Is a duty of care owed for purely financial loss? 48 5.3.3 To whom is a duty of care owed? 49 5.3.4 Breach of duty of care 50 5.3.5 Resultant damage 51 5.3.6 Measure of damages 52 6 The mortgage valuation 54 6.1 An overview 54 6.1.1 The lender’s view 54 6.1.2 The purchaser’s view 55 6.2 Future issues 56 7 The RICS Red Book and Regulation 57 7.1 The Red Book 57 7.1.1 Bases of value for mortgage valuations (VPS 4 and UK VPGA 11.2) 58 7.1.2 Assumptions and Special Assumptions (VPS4, UK VPGA 11.3) 59 7.1.3 Valuer Registration (VR) 60 7.1.4 Insurance and valuations 61 8 The valuation process 8.1 The valuation appraisal process: overview 63 63
Contents vii 8.1.1 Pre-inspection research 63 8.1.2 Purpose of valuation 64 8.1.3 Express requirements 64 8.1.4 Report format 64 8.1.5 Terms of engagement 64 8.1.6 Conflicts of interest 65 8.1.7 Log onto database 65 8.2 Pre-inspection investigations 66 8.2.1 Desk-top study 66 8.2.2 Neighbourhood 67 8.2.3 Tone of value 68 8.2.4 Property details 68 8.2.5 Property details - legal issues 69 8.2.6 Competence 69 8.3 On site 69 8.3.1 Location 69 8.3.2 Inspection 70 8.3.3 Site notes 72 8.3.4 Setting the scene with the occupier 74 8.3.5 Inspection procedure 75 8.3.6 Inspecting flats and maisonettes 76 8.3.7 Personal safety 76 8.3.8 How long should it take to do a valuation? 77 8.3.9 Referrals 77 8.4 Post-inspection comparables and reporting 78 8.4.1 Research comparables 78 8.4.2 Analysis of comparables 79 8.4.3 How to use the information 80 8.4.4 Market analysis 81 8.4.5 Calculations of price, worth and value 83 8.4.6 Comparing transactions 83 8.4.7 Comparing condition 92 8.4.8 Comments on the comparable spreadsheet ֊ a rationale 93 8.4.9 A review of factors that affect value 103 8.4.10 Home improvements and value 103 9 Reporting on condition and value for a residential mortgage 106 9.1 Reporting overview 106 9.1.1 General remarks in reports 106 9.1.2 Reporting on condition 108 9.1.3 Distinction between lender and purchaser 109 10 Alternative valuation methods and approaches 10.1 Overview 113 10.2 The Residual approach 113 10.2.1 Key factors in undertaking a Residual valuation 115 10.3 The Investment approach to valuation 116 10.3.1 Residential investment as buy-to-let categories
120 10.3.2 Receipt of instruction 121 10.3.3 Valuation of single-family occupancy properties 121 10.3.4 Valuation of Homes in Multiple Occupation (HMOs) 121 113
viii Contents 10.3.5 Alternative income approach valuation methods 123 10.4 Leasehold properties 123 10.5 New build property valuation 126 10.5.1 Drivers of value in new build houses 127 10.5.2 Inspection of new build properties 128 10.5.3 Comparable evidence 129 10.5.4 Assessing value 129 10.5.5 Valuation considerations 131 10.5.6 Permitted development rights 131 10.5.7 Development potential 134 10.5.8 The influence of buy-to-let on new build values 135 10.6 Specialist valuations 135 10.7 Valuing in periods of uncertainty 136 10.8 Technology and valuation 137 10.8.1 Overview 137 10.8.2 Recording of information 138 10.8.3 Desk-top reviews and research 138 10.8.4 Desk-top valuations 138 10.9 What is an AVM? 139 10.9.1 Use of data 140 10.9.2 Mass use of data 141 11 Additional legal matters 142 11.1 Overview 142 11.1.1 Nuisance 142 11.1.2 Trespass 143 11.2 Crime 144 11.2.1 Health and safety 144 11.2.2 Bribery 145 11.2.3 Fraud 146 11.2.4 Money laundering 147 11.3 Types of business 148 11.3.1 Sole trader 148 11.3.2 Partnership 148 11.3.2 Limited company 148 11.3.3 Limited liability partnership 149 11.3.4 Other business forms 149 11.4 General Data Protection Regulation (GDPR) 149 11.5 Equality 150 12 Valuing in the UK: the future and conclusion 12.1 12.2 12.3 12.4 152 Overview 152 The influence of the courts, fraudsters and mortgages 152 The future ֊ technology, risk and information 153 The example offlats 154 References Index 158 164 |
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| index_date | 2024-07-03T21:13:42Z |
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| spelling | Parnham, Phil Verfasser aut Residential property appraisal Volume 1 Valuation and law Chris Rispin, Fiona Haggett, Carrie de Silva, Phil Parnham and Larry Russen Second edition London Routledge 2022 viii, 171 Seiten txt rdacontent n rdamedia nc rdacarrier Haggett, Fiona Verfasser aut Silva, Carrie de Verfasser (DE-588)1249225159 aut (DE-604)BV048620641 1 Erscheint auch als Online-Ausgabe 978-0-367-81698-8 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033995885&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Parnham, Phil Haggett, Fiona Silva, Carrie de Residential property appraisal |
| title | Residential property appraisal |
| title_auth | Residential property appraisal |
| title_exact_search | Residential property appraisal |
| title_exact_search_txtP | Residential property appraisal |
| title_full | Residential property appraisal Volume 1 Valuation and law Chris Rispin, Fiona Haggett, Carrie de Silva, Phil Parnham and Larry Russen |
| title_fullStr | Residential property appraisal Volume 1 Valuation and law Chris Rispin, Fiona Haggett, Carrie de Silva, Phil Parnham and Larry Russen |
| title_full_unstemmed | Residential property appraisal Volume 1 Valuation and law Chris Rispin, Fiona Haggett, Carrie de Silva, Phil Parnham and Larry Russen |
| title_short | Residential property appraisal |
| title_sort | residential property appraisal valuation and law |
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