If you have a RICS certified property valuation, you can use it any time you need an independent, credible figure for your property’s value. In practice, that means using it to buy or sell with confidence, support a mortgage application or refinancing, satisfy legal and tax requirements, and make smarter long term investment and portfolio decisions.
What is a RICS certified property valuation?
A RICS certified property valuation is an independent property valuation carried out by a RICS Registered Valuer following the RICS Red Book standards. These standards set out how market value should be assessed and reported so that lenders, courts, tax authorities and investors can trust the result.
Unlike an online estimate or a quick opinion from an agent, a RICS valuation involves a qualified professional who inspects the property, researches comparable evidence, applies an appropriate valuation method, and produces a written valuation report. For a firm like iOwn, which is regulated by RICS and the Hellenic Ministry of Finance, this is part of their core service offering to both individual and corporate clients in Greece.
So how do you actually use that independent property valuation in real life?
1. Using a RICS valuation when buying or selling
Buying or selling is usually the first situation where people think about a RICS valuation.
When you are buying, a RICS certified property valuation helps you avoid overpaying. You can compare the agreed price with the report’s market value and use it as a solid reference in negotiations. If the valuation comes in lower than the asking price, you have something objective to support a price reduction or to walk away with confidence.
When you are selling, a RICS valuation helps you set a realistic asking price that reflects current market conditions. Price too high and the property sits on the market. Price too low and you leave money on the table. A Red Book valuation gives you a fair and unbiased starting point which you can then combine with your marketing strategy.
In both cases, the report is a sanity check that supports better decisions, not just a number for your folder.
2. Using a RICS valuation for mortgages and refinancing
Most banks and lenders will only rely on a valuation that is carried out by a qualified surveyor in line with RICS Red Book standards.
You can use a RICS certified property valuation to:
- Support a new mortgage application when you purchase a property
- Evidence the value of your property when you refinance or release equity
- Show that the loan to value ratio (LTV) is within the lender’s comfort zone
Because the valuation is independent, the lender knows it is not inflated just to make the deal work. For you, this reduces the risk of unpleasant surprises late in the process, such as a last minute down-valuation based only on internal bank estimates.
3. Using a RICS valuation for legal and tax matters
A RICS valuation really proves its worth when you have to deal with legal or tax issues. Here the words “independent” and “Red Book valuation” matter a lot.
You can use a RICS valuation for:
- Inheritance and probate: to establish the market value of a property at the date of death, for inheritance tax calculations and fair distribution between heirs.
- Matrimonial and divorce settlements: to determine how the value of a jointly owned property should be shared in a separation.
- Capital gains tax: to evidence the value of a property at acquisition and at disposal, especially when dealing with complex histories or improvements.
- Litigation and disputes: to present an expert, court ready opinion on value when parties disagree.
In these situations, an informal opinion is usually not enough. Courts and tax authorities are far more likely to accept a formal RICS valuation report because it is prepared under a recognised global standard.
4. Using a RICS valuation for investment and portfolio strategy
If you own more than one property or you manage real estate investments, a one off valuation is not the whole story. You can also use independent property valuations to shape your wider investment strategy.
Typical uses include:
- Reviewing the performance of your portfolio over time
- Deciding whether to hold, sell or refurbish specific assets
- Stress testing your loan to value ratios and exposure to market movements
- Supporting internal and external reporting for companies that hold property on their balance sheet
For a consultancy like iOwn that combines RICS certified property valuations with broader real estate advisory services, the valuation becomes the baseline for asset management, feasibility studies and transaction support, not just a one off certificate.
How to get the most from a RICS valuation with iOwn
To actually use a RICS valuation well, you should treat it as a tool, not a formality. Before you order one, be clear on why you need it: purchase, sale, mortgage, tax, inheritance or portfolio review. Share that purpose with your valuer so they can tailor the scope and the report to your situation.
iOwn lets you request a project and brief the team through their site, then a RICS Registered Valuer will guide you on the right type of Red Book valuation for your case and timeline.
Conclusion
A RICS certified property valuation is more than a number. You can use it to negotiate smarter when buying or selling, secure financing, handle legal and tax requirements with less stress, and steer your real estate investments in the right direction.
If you want a RICS valuation that actually helps you decide what to do next with your property in Greece, get in touch with iOwn’s team of RICS Registered Valuers and real estate consultants and let them tailor an independent property valuation to your plans.
