The aim of the service is to agree, by checking your valuations on a representative selection of properties within the portfolio, the value of all the properties at 31 March 1982. To help us in this process you should provide as much information as possible. To be included in this scheme, your application must be accompanied by detailed valuations of each property in the portfolio prepared by professionally qualified valuers. This will reduce the need for the VOA to seek further information from you and avoid any further costs to you unless detailed negotiations are required. The VOA will not provide valuation opinions in the absence of a reasoned valuation from you.
If you have valuations which were prepared for you, by professional advisers, around 1982 it is likely they will be in the format suggested by the Statements of Asset Valuation Practice and Guidance Notes (1981) issued by the accounting and property professions. Such a report should provide all the required information but to guide you the following list is taken from the Notes and it will be useful if you are commissioning a valuation now for the purpose of this service.
A description of the characteristics of the locality and amenities.
Details of the property including its age, accommodation, services, floor/site areas and any alterations made since 1982.
Details of any licences affecting the property.
Information on any relevant planning matters, development potential, outstanding statutory notices and known contraventions of statutory requirements.
State of repair and general condition, site stability, details of possible contamination.
Details of comparable transactions in support of the valuation, comment on market conditions and trends.
Details of how the valuation has been calculated (e.g. the values per unit of floor/site area, estimated rental values and yields adopted).
Details of any assumptions made.