Our expert valuation surveyors at RES Property Surveyors are well versed in providing diminution in value assessments and expert evidence. We undertake on average 50-100 expert reports per annum.
Diminution in value calculations can be required in a variety of litigation scenarios and we have recently provided expert valuation advice on diminution in value cases as follows:
- Diminution in value case in respect of a defective sewer;
- Diminution in value case in respect of professional negligence claims including the failure to spot Japanese Knotweed and subsidence;
- Diminution in value on easement matters;
- Diminution in value case for S.84 restrictive covenant matters;
- Diminution in value case in respect of failure to build to specification;
- Diminution in value case in respect of a trespass matter;
- Diminution in value case in respect of breach of covenant dispute;
- Diminution in value case in respect of a private estate breach of articles;
- Diminution in value case in respect of land contamination;
- Diminution in value case relating to construction disputes such as defective new build premises;
- Diminution in value case in respect of mis-representation;
- Diminution in value in respect of a breach of repair covenant.
These recent cases of diminution in value show how varied litigation in property matters can be and each case has its own idiosyncrasies and ultimately each case turns on its own specifics.
The starting point of such assessments is nearly always the unfettered Market Value position.
The key skill as each scenario ultimately has no comparison, is for the valuer to use its judgement in affecting the necessary discount to the unfettered Market Value. This is a matter of detail and experience with some assistance from case law authorities.
In some instances, this maybe equal to the cost of remedial works, such as in dilapidation disputes but in most cases there will be various heads of claim to build up the diminution and this may include disturbance.
RES has a very experienced team of expert valuers whom would happily assist in any diminution in value assessment. We are chartered surveyors and registered valuers.