Hello, I’m looking for someone who can help me with what I hope is a fairly straightforward question regarding property law; it’s to do with how market value of residential properties is determined (i.e. not conveyancing). If anyone knows/can recommend someone who works in this area I would be grateful if you could pass on their details. Or if anyone is a property lawyer themselves and might be able to assist I would be so grateful. Thanks, Katherine
This sounds more like an accountancy question.
You could start by asking an estate agent how they would value the property and/or for a valuation.
Thanks @Sherwood. We need to get some advice on the legal definition of market value (and how this definition can be used) for an arbitration case, rather than a valuation of a property, so unfortunately an estate agent won’t be able to help in this instance.
Then it sounds like you need a surveyor. They advise on market value for lease extensions so should be able to help you for what you need.
Christopher Martin at Michael Rogers Tunbridge Wells has extensive knowledge of property values in south east London.
He is a surveyor who we used frequently for valuations for lease extensions on behalf of our freehold company.
You need an RICS surveyor - if its for arbitration I would suggest that you get a surveyor who can do red book valuations.
Thanks everyone for your suggestions.