The Desktop Valuation is not to be construed as a formal valuation but will contain a brief description of the property to be valued, based on photographic evidence, computerised information and advice from the client and other means, as appropriate, to establish a value which often is expressed as a range. No internal inspection is required. This process is carried out by a registered Valuer who will research registered sales evidence, consult all appropriate databases and will use his or her local knowledge, experience and expertise to establish the value of the property.
Examples where a Desktop Valuation may be used include;
Pre sale and purchase assessments.
Pre-determination of value in preparation into litigation including, family law, compensation, bankruptcy, etc and used by solicitors, accountants, trustees, real estate agents, developers.
A note on AVM’sAVM (Automated Valuation Models) are computer generated assessments that predict value based upon statistical, A.I. and algorithmic formula. These reports are totally computer generated and not often supervised by a registered valuer unless they specifically advise otherwise. Our position on AVM’s is that they are normally ignored and considered too inaccurate to issue to our clients. Major institutions may use them, however, we don’t consider this method of assessment suitable for reliance on market value.