The starting point
The purpose determines the report: a sale decision, family arrangement, estate, tax requirement, care-funding application or business matter may need different work. Begin with the interest, date, intended readers and decision the opinion must support.
Begin with the decision
People often ask what a property is worth before explaining why they need to know. The reason matters. A family deciding what to do with an inherited home, a buyer considering an offer and an accountant preparing a set of accounts may each need a different instruction.
I would begin with five points: the property interest, the purpose, the date, the intended reader and the decision the report is meant to support. Writing in the RICS Property Journal, Fothergill identifies lending, financial reporting, taxation, transactions and litigation among the purposes that shape a valuation’s basis and scope (Fothergill, 2026). A useful report makes that connection clear.
Family decisions and changes in ownership
Separation, divorce, mediation and a proposed co-owner buyout can all create a need for an independent opinion. The report can give the parties a common starting point for discussion. Their solicitors still need to address ownership rights and the terms of any agreement.
The same applies when siblings inherit a house and one wishes to retain it. Before asking for a figure, agree whether the valuation concerns the whole property or a specified interest. Identify who is instructing, who will receive the report and how relevant information will be shared. These practical details can prevent confusion later.
Probate, inheritance and gifts
The Courts Service explains that estate administration requires asset values at the date of death (Courts Service, 2025). An inheritance-tax instruction can involve a different valuation date, determined under the relevant tax rules (Revenue, 2026c). The estate solicitor or tax adviser should confirm what is needed.
A gifted site, farm succession arrangement or transfer within a family can also need valuation evidence. The instruction should describe exactly what is passing: the whole holding, a particular parcel, a share or an interest affected by occupation. A report should not leave the advisers guessing about what the figure includes.
Tax and care-funding evidence
Your tax adviser may require a valuation for Capital Gains Tax, a gift or another transaction. Sometimes the relevant question is historic: what was the specified interest worth at an earlier date? Earlier particulars, photographs, plans and evidence of the property’s condition may then be especially helpful.
LPT has its own valuation requirements. Revenue allows property owners to obtain a professional valuation, but self-assessment does not automatically require a paid report (Revenue, 2026b). Fair Deal is another distinct purpose: the HSE includes property valuation evidence in its financial assessment (HSE, n.d.-a). In each case, obtain the receiving body’s requirements before commissioning work.
Buying, selling and reviewing a portfolio
A prospective buyer may want an independent opinion before committing to a purchase. An owner may want a formal report before a private sale or a wider review of assets. The first discussion should establish whether a sale appraisal is sufficient or whether a report with a defined purpose and stated assumptions is needed.
For a portfolio, consistency matters. The date, interests, occupancy and assumptions should be clear across the properties. A house available with vacant possession, a let commercial unit and agricultural land may need different evidence and analysis. A single headline total can conceal those differences unless the underlying schedule is properly explained.
Commercial property, land and accounts
Commercial instructions can concern capital value, market rent, a proposed letting or a lease review. Development land can require an assessment of the existing position or an expressly stated scenario. Planning assumptions, construction costs and timing should be examined with the appropriate advisers.
Accounts present another reason for a report. IAS 40, for example, addresses investment-property measurement and fair-value information (IFRS Foundation, n.d.). The accountant or auditor should identify the framework that actually applies. Trustees and pension administrators should likewise specify their requirements before a valuer is appointed. A property valuation alone does not establish the legal or tax acceptability of a proposed transaction.
Lending and specialist instructions
For mortgage switching, the CCPC advises that the new lender will require a formal valuation from an approved valuer (CCPC, n.d.-c). Ask the lender about its process before paying for a general report. Its panel, format and instructions need to be respected.
Court evidence, compulsory purchase and commercial rating also require particular care. Compulsory-purchase compensation may involve the effect on retained land and other heads of claim, as well as the land acquired (SCSI, n.d.-b). Tailte Éireann’s statutory commercial valuations support the collection of local authority rates (Tailte Éireann, n.d.-a). These are reasons to seek the right specialist brief and experience at the outset.
Insurance needs a different question
If your concern is the amount needed to rebuild after an insured event, ask for an appropriate reinstatement-cost assessment. Market value and rebuilding cost serve different purposes. The SCSI’s guidance also explains that its general calculator is unsuitable for some properties, including bespoke and period houses (SCSI, 2025).
It is worth describing the question in ordinary language: “I need to check my buildings cover” is more useful than asking for an unspecified “insurance valuation”. The right professional can then establish the assessment required.
A useful first enquiry
Send the property’s address, a brief description, the reason for the report, the date required and any deadline. If a solicitor, accountant, lender or other body has requested it, include their written requirements. Tell me who is intended to rely on the report.
At Cox & Walsh, an enquiry is the start of establishing whether the instruction is suitable, what expertise is required and how the work should be scoped. Where a specialist or approved-panel appointment is necessary, that needs to be clear before any commitment. The aim is a report that answers the question you actually need resolved.
References
Download this article’s reference list ↓
Fothergill, J. (2026) When is a figure a valuation? Understanding scope, purpose and basis under Red Book. Available at: When is a figure a valuation? Understanding scope, purpose and basis under Red Book (Accessed: 1 November 2026).
Courts Service (2025) Explaining probate. Available at: Explaining probate (Accessed: 1 November 2026).
Revenue (2026c) What is the valuation date?. Available at: What is the valuation date? (Accessed: 1 November 2026).
Health Service Executive (HSE) (n.d.-a) Fair Deal: Financial assessment — how much you pay towards care. Available at: Fair Deal: Financial assessment — how much you pay towards care (Accessed: 1 November 2026).
Revenue (2026b) How to value your property for Local Property Tax. Available at: How to value your property for Local Property Tax (Accessed: 1 November 2026).
Competition and Consumer Protection Commission (CCPC) (n.d.-c) A guide to switching your mortgage. Available at: A guide to switching your mortgage (Accessed: 1 November 2026).
IFRS Foundation (n.d.) IAS 40 Investment Property. Available at: IAS 40 Investment Property (Accessed: 1 November 2026).
Society of Chartered Surveyors Ireland (SCSI) (n.d.-b) Compulsory purchase orders. Available at: Compulsory purchase orders (Accessed: 1 November 2026).
Tailte Éireann (n.d.-a) Valuation services. Available at: Valuation services (Accessed: 1 November 2026).
Society of Chartered Surveyors Ireland (SCSI) (2025) A guide to calculating house rebuilding costs for insurance purposes (2025/26). Available at: A guide to calculating house rebuilding costs for insurance purposes (2025/26) (Accessed: 1 November 2026).
Further reading
Wyatt, P. (2022) Property Valuation. 3rd edn. Wiley-Blackwell. Edition, context & purchase links View / buy at publisher
Wylie, J.C.W. (2020) Wylie on Irish Land Law. 6th edn. Bloomsbury Professional. Edition, context & purchase links View / buy at publisher
Books listed for further reading have not necessarily been consulted in full. See the reading room for the basis of each recommendation.
General information for Irish property matters. The requirements of a particular instruction should be discussed with the appropriate professional. Editorial approach and source policy.
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