Rural asset valuation
VALUATION OF ASSETS FOR JOSEPH WALLER
1. Apply and evaluate the use and adequacy of valuation methodologies to solve complex valuation problems within the appropriate legal and professional frameworks.
2. Synthesise knowledge of valuation techniques and other land and property related knowledge in arriving at an opinion of value.
3. Collate, evaluate and utilise market data in the preparation of valuation figures.
Task outline:
Your firm has been instructed by your client Joseph Waller to provide an opinion of the market value of property in his ownership as at 1st March 2022. The valuation is required for the purposes of future secured lending.
The details of the property assets are set out in this brief below.
Given that you have not inspected the assets listed nor had an opportunity of speaking with the owners of the property you may need to make assumptions in putting together the valuations. It is important that you state what those assumptions are.
You will also see that you have not been instructed as to the location of the properties listed. You are asked to assume that the property is located in whatever part of the country you either work or live in. This should clearly be stated somewhere in your submission.
You are not required to report your valuation figures within a formal valuation report but you are to assume that you are creating the valuation figures and supporting notes that will be retained on your file in the event that you should ever be required to defend your valuation.
Your file note should clearly set out your valuation approach, methodology, evidence and analysis to produce valuation figures that are completely supported by your workings.
Your file note should also summarise what you consider to be the main points/issues or assumptions that you would consider necessary to bring to your client’s attention in any valuation report relating to the assets that you are valuing.
