Selby Rural, with our extensive knowledge and experience, are the go-to for undertaking formal and informal valuations on all types of property - from pony paddocks to whole farms, or anything in between.
We are predominantly agricultural land valuers, and our valuations provide detailed inspections, comparable evidencing, relevant calculations, and due diligence.
Selby Rural are RICS-accredited to produce a “Red Book” property valuation report commonly used for secured lending, inheritance tax (probate), capital gains tax, partnership disputes or SIPPS. In some instances, this detailed report may not be required, and instead an indication of value at a specified date may suffice. In any case, Selby Rural will advise which type of valuation is required.
Selling a farm? Or on the market to buy a farm? Contact us for a no-obligation consultation.
WE FOCUS ON REALISTIC VALUES
When undertaking a valuation report for a property there are several requirements to be researched and detailed. As part of this process other issues can arise that have a significant impact on the valuation of the property. For example an unwritten tenancy or part of the property is designated for housing or protected. Selby Rural not only provides the valuation figure, but also explain how any issues have impacted the final valuation figure, and how to mitigate them.
WE THINK LONG TERM
When producing a valuation report, we are confidently stating in our opinion, a market value on that valuation date, as per the RICS rules and regulations. Selby Rural undertake several valuations for secured lending purposes to future inheritance tax or capital gains tax planning, and therefore the advice and figures provided have a significant impact on estates and funds.
WE WALK YOU THROUGH THE PROCESS
In most circumstances there are two types of valuations that we undertake. A red book valuation report or a valuation for sale purposes. Ultimately the valuation figure at the end would be the same for both types of valuations, however a red book valuation report involves a significant more amount of work. Some clients are not sure which type of report they may require and, in this instance, we would confirm with their accountant or tax adviser to ensure that the report is in the correct format. In the valuations we would also raise any concerns found whilst inspecting the property or following up desk-based research.
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FREQUENTLY ASKED QUESTIONS
A red book valuation report is a term used to refer to a property valuation report that complies with the International Valuation Standards (IVS), and is carried out in accordance with the RICS red book standards. The red book is a professional guidance document issued by the RICS which sets out the requirements and guidelines for property valuations.
A red book valuation report provides an independent and objective assessment of the value of a property based on various factors such as its location size condition and market trends. The report also considers other factors that may affect the value of the property such as environmental issues or planning constraints.
No, not everyone can undertake a red book valuation report. A red book valuation report must be carried out by qualified and experienced chartered surveyor who is also a registered valuer with the RICS.
The value of agricultural land per acre can vary significantly depending on various factors, including that location, the quality of the soil, the type of livestock or crops that can be produced on the land and finally the most significant, the demand for land locally.
Agricultural land prices per acre in the UK is £10,000, however it is not uncommon to see bare land in Cheshire selling more than £15,000 per acre. This is due to increased demand and lack of supply but also in some circumstances rollover money being utilised to acquire land by farmers expanding their holdings.
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