M: 07985 971425
T: 01395 444415

hazel@devonpropertysurveyors.co.uk

1 Knowle Hill
Budleigh Salterton
Devon EX9 7AL

Valuation of Residential property

Terms Of Engagement

1. The purpose of the valuation shall be agreed between the Client and Valuer.
2. The subject of the valuation, including the treatment of fixtures and fittings, and tenure (freehold/leasehold) of the property to be valued shall be as specified by/agreed with the Client.
3. Unless otherwise agreed, the basis/bases of valuation to be provided will be as prescribed by the Royal Institution of Chartered Surveyors and agreed/confirmed in writing by the Valuer to the Client before the report is issued, along with any special assumptions relating to the basis/bases.
4. Subject to paragraphs 6 & 7 below, the Valuer shall carry out such inspections and investigations as are in the Valuers professional judgement, appropriate and possible in the particular circumstances.
5. The valuer shall rely upon information provided by the Client and/or the Client's legal or other professional advisers relating to tenure, tenancies and other relevant matters.
6. The Valuer will have regard to the apparent state of repair and condition of the property but will not carry out a building survey nor inspect those parts of the property which are covered, unexposed or inaccessible. Such parts will be assumed to be in good repair and condition. The Valuer will not be under any duty to arrange for the testing of electrical, heating or other services.

In reporting the Valuer will meet the relevant requirements of the RICS Appraisal and Valuation Manual and will make the following assumptions which she will be under no duty to verify:

1. that no harmful or hazardous material has been used in the construction of the property or has since been incorporated, and that there is no contamination in or from the ground, and it is not a landfilled site;
2. that good title can be shown and that the property is not subject to any unusual or especially onerous restriction, encumbrances or outgoings;
3. that the property and its value are unaffected by any matters which would be revealed by a local search and replies to the usual enquiries, or by any statutory notice, and that neither the property, not its condition, nor its use, nor its intended use, is or will be unlawful;
4. that inspection of those parts that have not been inspected would neither reveal material defects nor cause the Valuer to alter the valuation materially; and
5. that no radon gas is present at the property.

The report will be provided for the stated purpose(s) and for the sole use of the named Client. It will be confidential to the Client and the Client's professional advisers. The Valuer accepts responsibility to the Client alone that the Report will be prepared with the skill, care and diligence reasonably expected of a competent Chartered Surveyor, but accepts no responsibility whatsoever to any parties other than the Client. Any such parties rely upon the report at their own risk. Neither the whole nor any part of the Report nor any reference to it may be included in any published document, circular or statement nor published in any way without the Valuers written approval of the form and context in which it may appear.

The Client will pay to the Valuer the fee agreed/confirmed in writing by the Valuer and the amount of any Value Added Tax on the fee. In addition, if similarly agreed/confirmed in writing, the Client will reimburse the Valuer the cost of all reasonable out-of-pocket expenses which may be incurred, and any VAT thereon.

Should the need arise; a copy of Devon Property Surveyors Ltd's Complaints Procedure is available on request.