COVID-19 and valuation practice alert

Question 1

What is the current position of the COVID-19 practice alert?

Answer 1

There has been a maturity of the COVID-19 situation globally and in many areas government restrictions and regulatory protocols have or are currently being lifted.

Question 2

What was the purpose of the COVID-19 practice alert, July 2021?

Answer 2

1. Introduction
2. Inspections, general regulation and protocols
3. Inspection, investigation and RICS Global Standards
   3.1 Valuing without an inspection or with inspection limitations
   3.2 Inspection information from third parties
4. Ensuring compliance with RICS standards
5. Material valuation uncertainty, market conditions and the valuation approach
   5.1 Uncertainty and the valuation approach
   5.2 Wording to assist with reporting market conditions and material valuation
   uncertainty
6. Special valuation instructions, including special assumptions
   6.1 Special valuation instructions
   6.2 Assumptions and special assumptions
7. Professional indemnity insurance, liability capping and third-party reliance