RICS redefines `open market value`
RICS redefines `open market value`
- 1992
- RICS Press Release (56/92) 1 May 1992 (11) .
The RICS Red Book "Statements of assets valuation practice and guidance notes" will carry a revised definition of `open market value` which comes into effect from 1 June 1992. Copy of revised SAVP No 2 is attached. The revised definition will also apply to the "Mortgage Valuation Guidance for Valuers" and all other Institution publications.
ASSET VALUATION
DEFINITION
OPEN MARKET VALUE
RICS APPRAISAL AND VALUATION MANUAL
RICS
SAVP NO 2
Valuation
The RICS Red Book "Statements of assets valuation practice and guidance notes" will carry a revised definition of `open market value` which comes into effect from 1 June 1992. Copy of revised SAVP No 2 is attached. The revised definition will also apply to the "Mortgage Valuation Guidance for Valuers" and all other Institution publications.
ASSET VALUATION
DEFINITION
OPEN MARKET VALUE
RICS APPRAISAL AND VALUATION MANUAL
RICS
SAVP NO 2
Valuation