Registered Valuers – at REA Seamus Carthy

REA Seamus Carthy understand that valuations underpin nearly every financial decision we make – from home mortgages and investments to corporate finance and land transactions.

  Any person or organisation that occupies, owns, develops or trades assets in today’s global markets relies on a valuer’s expertise, quality standards and ethics.

  Aishleen O’Toole of REA Seamus Carthy advises that The Society of Chartered Surveyors Ireland, on behalf of RICS (Royal Institute of Chartered Surveyors), will introduce on a mandatory basis a quality assurance scheme for valuers called ‘Valuer Registration’ at the end of February.

  Valuer Registration sets out an approach to raise confidence in the delivery of valuation advice and reinforce the highest professional standards in property valuation – a key component underpinning most economic activity.

  The Valuer Registration scheme will provide lenders, asset managers and investors with a clearly identifiable designation for the best regulated and qualified professionals.

  Valuer Registration reinforces the highest professional standards. By appointing an RICS Registered Valuer, you can be confident that you are working with regulated and qualified professionals.

  Due to widespread financial insecurity, the profession recognised an international need to reduce risk associated with valuations of any real estate and land assets – and that as an economy we need to ensure that high standards are in place and valuations are monitored on a regular basis on both residential and commercial property transactions.

  Aishleen advises that in 2012, the Central Bank of Ireland published a report ‘Valuation Processes in the Banking Crisis- Lessons Learned – Guiding the Future’ that recommended that lenders should seek Red Book valuations from suitably qualified valuers when considering applications for loans or reviewing existing loans.

  Furthermore, the Mortgage Credit Directive is to be transposed in Ireland by March 2016 and will require assurance that residential valuations are carried out by competent professionals who are independent of the transaction.

  Valuer Registration will provide this assurance to financial institutions and will represent the highest standard of regulation in Ireland for both residential and commercial valuations.

  At REA Seamus Carthy we ensure that the highest professional standards are adhered to at all times. We are Registered Valuers and differentiate ourselves from others.

  For further information or to get professional advice in relation to commercial, residential or land valuations contact our Registered Valuers, Aishleen O’Toole or Seamus Carthy, at REA Seamus Carthy on 090 6630001.