Likely Q's Flashcards

1
Q

Why do we physically inspect?

A

o sense of the surroundings such as if it is in a secondary or tertiary position
o how the property is accessed
o look for structural defects/ damp/ movement
o In the case of pubs and restaurants it also gives us a good idea of the type of customers, offering and generally the way the businesses is managed and run

Generally to look for factors which may impact value.

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2
Q

What are you looking for on an inspection?

A

State of repair and condition
Age, construction
Dimensions/ areas
Any deleterious or hazardous materials
Natural hazards such as ground instability
Site boundaries
Potential for development or redevelopment

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3
Q

What’s your process? What notes do you take?

I have a checklist for when I am on site which includes:

A
position and situation
brief external description such as number of floors, construction, access to building
Measurements to be taken
Note of condition
Note of menu, seating for how many
Layout 
Description for each room
Basement – floor to ceiling heights
Disabled access
WC’s
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4
Q

What do you do before going on site?

A
  • Assess the risks
    a. identify the hazards
    b. decide who might be harmed and how
    c. evaluate the risks and decide on precautions
    d. record the findings and implement them
    e. review the assessment and update if necessary and
    f. advise all those affected of the outcome of the assessment and methods of work, or other control measures necessary, to minimise or eliminate risk.

Hierarchy of risk control:
Risks should then be reduced to the lowest reasonably practical level by taking preventive measures.
Dynamic risk assessment:
On the day risks change so is it still safe to inspect can everyone still get to a safe place in an emergency.

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5
Q

Key principles RICS SS?

A
Pre inspection check list
The safe person concept
Dynamic risk assessment 
Hierarchy of risk control
Fire safety
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6
Q

What would you include in a pre inspection checklist?

A
How are you going to travel to site?
Are you working alone
Condition of property – PPE
Is the property occupied
Dangerous substances
High structures
Structural stability slip and trip hazards
Live or unsecured service
Contamination
vermin
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7
Q

What are the Five elements regarding risk?

A
risk control hierarchy
elimination
substitution
engineering
admin controls
PPE
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8
Q

Lone working best practice?

A

Team is aware of where you are inspecting and time scales
The team has your contact info
They know who you are meeting with
They expect a phone call when completed inspecting

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9
Q

Method of construction question – typically case study as only photograph?

A

Solid brick construction because if ‘Flemish bond’ headers and stretchers alternate in each course

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10
Q

Typical grade A specification of industrial, office?

A

Grade A office – located centrally or in key locations and are brand new or have undergone recent refurbishment

Grade B office – often around 30% cheaper than grade A and it is because it is in a less desirable location or/and hasn’t been refurbished in the last couple of years

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11
Q

Deleterious v hazardous

A

Deleterious is a material which causes structural damage such as cavity wall tie failure or high ammonia cement
Hazardous is a material which can cause health problems such as lead pipes or asbestos

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12
Q

What factors would you consider if the property was Listed or in a CA?

A

If it was listed and within a conservation area then development/ extensions would be limited and restricted. It could also be a more expensive process because of compliance with certain criteria.

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13
Q

Contents of RBG

A
Glossary
Introduction
Professional Standards (Mandatory)
	PS1
	PS2 
VPS (Valuation technical and performance standards) (Mandatory) 
	VPS 1 – 5

Valuation Practice guidance applications (Advisory)
VPGA 1-10

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14
Q

What is the VPS 1 – terms of engagement list?

A
Identification and status of valuer
Identification of asset to be valued
Identification of the client
Currency of valuation
Date of valuation
Purpose of valuation
Basis of valuation
Special assumptions 
Nature of the sources which the valuer is reliant upon
Assumptions and special assumptions to be made
Restrictions of use, distribution and publication of the report
Fee
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15
Q

What are the 6 Bases of value?

A
Market Value
Market Rent 
Synergistic Value 
Investment value
Liquidation value
Equitable value
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