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Chartered Surveyors, Valuers and Commercial Property Estate Agents for Staffordshire, Cheshire and Shropshire

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Survey and Valuation

Rory Mack Associates Chartered Surveyors and RICS Registered Valuers provide survey and valuation services in North Staffordshire, Newcastle, Stoke On Trent, Stafford, South Cheshire, Crewe, North Shropshire and the West Midlands.  

As Chartered Surveyors, we provide survey and valuation reports for all types of residential property, commercial property and development land for:

  • Company accounts
  • Sales or purchases
  • Taxation
  • Litigation
  • Company mergers/acquisitions
  • Strategic planning
  • Secured lending
  • Asset management
  • Building reinstatement

Please click on a heading below to read more about our services:

Private Valuations

Rory Mack Associates undertake private valuations on behalf of landlords, investors and purchasers on property asset classes including shops, offices, warehouse and industrial, land and development sites and investments.  We also undertake valuations on specialist property such as public houses, petrol stations, nightclubs and restaurants. 

The basis of valuation and minimum standard of reporting is set out in the RICS Valuation Standards (the Red Book).  We can also prepare valuations based on special assumptions if previously agreed with the client.  Reports are usually confidential to the client and are not transferrable to potential lenders for use in obtaining a mortgage or other parties.  The report can, however, be useful in helping you establish a sale or purchase price before committing to the deal.

All Chartered Surveyors are governed and regulated by strict rules of conduct as set by the RICS. Our Chartered Surveyors are also accredited with the RICS Registered Valuer Scheme meaning we can provide valuation advice in accordance with RICS Valuation Standards.  For members, it’s a clear kite mark of quality; for consumers, it means all members are subject to professional, independent regulation.

Please call us on 01782 715725 or email enquiries@rorymack.co.uk where one of our team of commercial Chartered Surveyors and RICS Registered Valuers will be happy to help.

 

 

Homebuyers Report

Over 80% of home buyers rely solely on a mortgage valuation report.  The mortgage valuation only advises the lender of the value of a property and of any characteristics of the property including significant defects which might affect its value as security for the proposed loan.

By contrast, the Homebuyers Report is designed to provide a thorough overview of the property’s condition and commentary on any relevant legal aspects which may require further investigation.  The Report is personal to you and not for your mortgage lender.

The Homebuyer Report is typically suitable for conventional properties in reasonable condition, built within the last 150 years.  Before you commit to buying your home make sure you have the HomeBuyer Report to help you to:

  • Make an informed decision on whether to go ahead with buying the property
  • Decide what is a reasonable price to pay for the property
  • Take account of any repairs or replacements the property needs
  • Consider if you need any further advice before exchanging contracts

Our reports are written in a standard format with terminology that the reader will understand.  We don’t subscribe to the ‘traffic light’ reporting system – we’d rather tell you in plain English.

The report can also include the surveyor’s opinion of how much the property is worth taking into account the condition.  The report can often be used in the course of purchase negotiations, which could save you money from the outset.

Our surveyors will be happy to discuss the content of the report with our client.

To find out if the Homebuyer Report is suitable for you, please call our surveyors on 01782 715725 or email enquiries@rorymack.co.uk

 

RICS Building Survey

The Building Survey is the premium product in the Home Survey range.  

The Building Survey is usually designed for residential properties which have unusual construction materials, are over 100 years old or which you intend to re-model/refurbish.

The Building Survey intends to help our clients:

  • Make a reasoned and informed decision when purchasing the property, or when planning for repairs, maintenance or upgrades to a property
  • Provide detailed advice on condition
  • Describe the identifiable risk of potential or hidden defects
  • Where practicable and agreed, provide an estimate of costs for identified repairs
  • Make recommendations as to any further actions of advice, dependent on findings, for damp proofing, tree roots, drainage, timber rot or infestation, etc, which need to be obtained before committing to purchase

The Building Survey can be quite time consuming. Particular care is given to everything that is visible or easily accessible in order to examine the soundness of the structure, its general condition and all major or minor faults.  By finding these things out before you buy we can help you avoid costly repairs or replacement after purchase.  Importantly, the report will enable your legal adviser to concentrate on any specific findings such as whether any warranties are in place.  For additional peace of mind, once you’ve received our report, we’re available to discuss our findings with you in person.

To find out if a Building Survey is needed for your proposed purchase, please call our surveyors on 01782 715725 or email enquiries@rorymack.co.uk

 

Commercial Mortgage Valuations

We undertake Commercial Mortgage Valuations on behalf of banks, building societies, second tier lenders and pension funds for shops, offices, warehouse and industrial, land and development sites and investments.  We also undertake valuations on specialist properties such as public houses, petrol stations, nightclubs and restaurants.

The basis of valuation and minimum standard of reporting is set out in the RICS Valuation Standards (the Red Book).  We can also prepare valuations based on special assumptions if previously agreed with the client.

Many banks and lenders have a prescribed reporting format which must be maintained.  Reports are usually confidential to the client (the lender) and are not transferrable to other potential lenders or parties.

Please call us on 01782 715725 or email enquiries@rorymack.co.uk where one of our team of commercial Chartered Surveyors and RICS Registered Valuers will be happy to help.

 

Development Appraisals

The land residual method is used in development appraisals to assess the market value of land or land and buildings, where there is potential for the land to be put to a higher value use.  Examples include:

  • land being sold for residential, commercial or industrial development
  • existing buildings that could be cleared and the land redeveloped for another use
  • existing buildings that can be converted to another more valuable use

There are usually 4 stages in the land residual method:

  1. Establish the development potential within the market for that parcel of land in that location.  The method is used to assess value on a ‘what if’ basis. This means that the resultant figure depends on all necessary permissions, licenses and other authorisations being obtained to undertake the scheme.
  2. Assess the value of the completed scheme.  The Gross Development Value (GDV) is calculated using the comparative or income approach. The comparative method would be used for developments of apartments and houses. If the scheme is of a commercial nature where the space created is likely to be leased, GDV will be estimated using the income approach.  An understanding of values through local knowledge and experience is an important factor in assessing the projected values.
  3. Assess all the development costs, including an amount for normal profit and for the finance costs and interest charges on the capital (money) needed to fund the whole of the scheme.
  4. The costs are added together and deducted from NDV to arrive at a Gross Residual Value (GRV).

We have a team of Chartered Surveyors and RICS Registered Valuers experienced in the preparation of development appraisals for residential and commercial development schemes.

Call us on 01782 715725 or email enquiries@rorymack.co.uk where one of our team of Chartered Surveyors and RICS Registered Valuers will be happy to help.

 

 

Capital Gains Tax Valuations

Capital Gains Tax is charged when you sell your property or asset and it has increased in value from the time of its acquisition. You don’t usually have to pay Capital Gains Tax when you sell or dispose of your own home due to Private Residence Relief. You may have to pay Capital Gains Tax if you own more than one home or you use your home for business purposes.

If you sell or dispose of a property that does not qualify for Private Residence Relief you must work out the gain or loss.

Often, the Inland Revenue will require a formal written valuation to calculate any Capital Gains Tax due. Any gain in value made on a property is subject to this Tax. (Please note, some exemptions may apply if you buy another property or certain other assets for business use.) In addition, when it is intended to transfer the ownership of a share of a property or the entire property, a value has to be given in order to assess the amount of Stamp Duty to be paid to the Inland Revenue.

The tax arises when you sell or dispose of the property and its value has increased from the time of acquisition.  Valuations used by taxpayers in their calculations need checking by the district valuer on behalf of HMRC.

We can prepare Capital Gains Tax valuations for all types of properties. Please call us on 01782 715725 or email enquiries@rorymack.co.uk where a member of our team will be happy to help.

 

Expert Witness

Our surveyors can act as expert witnesses to provide written expert evidence.  This can be relied upon in civil proceedings before a wide range of tribunals (including courts) in the UK.  The surveyor is bound to the requirements of the RICS Practice Statement, “Surveyors acting as expert witnesses”. The primary duty to the tribunal is to ensure that the expert can demonstrate:

  • independence and unbiased opinion
  • expertise, experience and knowledge
  • impartiality to those instructing or responsible for the fee
  • adherence to the duties of an expert witness by acting in an impartial and truthful manner

Our team of Chartered Surveyors and RICS Registered Valuers are experienced in providing expert reports on residential and commercial property, land and assets for company disputes, negligence claims, planning disputes, contract disputes and matrimonial disputes.

Call us on 01782 715725 or email enquiries@rorymack.co.uk where a member of our team will be happy to help.

Building Insurance Reinstatement Assessments

Within a building insurance policy is a requirement to disclose a ‘reinstatement value’ as sufficient cover for the re-build or repair of a building.  In almost all cases, the reinstatement figure has no direct correlation to the ‘value’ of a building. Rather than obtaining formal advice, some policy holders can be found to be ‘under insured’ in the event of a claim.

A building insurance reinstatement assessment should not only include the ‘re-build’ cost on a like for like basis, but also site clearance, shoring up or making safe, professional fees, external features/outbuildings and geographical or local factors.

Our building survey team is experienced in the assessment of all residential and commercial buildings from single buildings to multiple unit sites.

Please call us on 01782 715725 or email enquiries@rorymack.co.uk where a member of our team will be happy to help.

Probate and Inheritance Tax

When someone dies, any land and buildings they own are included in their estate and may be subject to Inheritance Tax.  If so, the valuation of the estate must be conducted by a chartered surveyor with the relevant experience of the particular asset class.  The valuation should reflect the value of the property at the time of death.

Our Chartered Surveyors can provide you or your advisers with the relevant report for all types of residential and commercial properties.  You should note that any fees associated with formal valuation advice can be offset against the value of the estate.

The types of properties which may need a surveyor’s valuation could include:

  • A private residence
  • Any other houses or flats that are owned as holiday homes or for investment purposes
  • Agricultural land and farms
  • Business properties such as shops, factories, offices, hotels, restaurants and public houses
  • Other land and buildings such as woodland, amenity land and lock-up garages
  • Any rights that are attached to land, like fishing or shooting rights

For further advice and to book a valuation please call us on 01782 715725 or email enquiries@rorymack.co.uk

RICS Registered Valuers

The RICS Registered Valuer Scheme provides clients with a clearly identifiable designation for the best regulated and qualified valuation professionals in the field.

Valuations underpin nearly all financial decisions from home mortgages to major investment and corporate finance transactions, and from assessment of company accounts under International Financial Reporting Standards (IFRS) to stock exchange listings.  Robust practice standards form the basis of high quality valuations. RICS is the world’s leading qualification for valuation professionals and is well respected by employers and clients the world over.

The Registered Valuer Scheme assures the quality of valuations – a key component underpinning most economic activity – to raise the credibility of valuers.

It also reinforces professional standards and raises consumer confidence in the delivery of valuation advice to the highest professional standard. This is achieved through the established register of valuers working in regulated firms and other organisations, and a system of regulatory monitoring.

Regulated By RICS

Regulation by The Royal Institution of Chartered Surveyors (RICS) ensures members adhere to mandatory rules, adopt best practice and are subject to monitoring by the governing body.

RICS can trace its history right back to 1792 when the Surveyors Club was formed.  The first RICS Council was elected in 1868.

Today RICS works closely with professional organisations around the world, with members specialising in all subjects relating to property, land and construction.  Today RICS has more than 100,000 members globally.  Firms must register for regulation with RICS when offering surveying services to third parties and where 50% or more of the principals are RICS members.

RICS Valuation Standards (the ‘Red Book’) contains mandatory rules, best practice guidance and related commentary for all RICS members undertaking property valuations. The Red Book is issued by the RICS Valuation Professional Group as part of its ongoing commitment to promote and support high standards in valuation delivery worldwide.

We are regulated by RICS and all of our Chartered Surveyors operate in accordance with the Practice Statements and Guidance Notes of the RICS Red Book.

For all valuation and survey enquiries and a no obligation chat, please call us on 01782 715725 or email enquiries@rorymack.co.uk