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Flashcards in Ethics Level 3 Deck (4)
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1
Q

Bradda Prop Co: Why did you refuse the new instruction for the client?

A

No access to software/data - wouldn’t be precise.

  • Service would have been poor.
  • Would not have acted with openness and honesty.
  • PI wouldn’t have covered the advice if a claim was made.
2
Q

How do you carry out reinstatement cost valuations?

A

Measure the property.
Record construction.
Consider materials, services etc.
Find rebuild data for comparable property’s per m2 (BCIS)
Adjust calculation based on property/location.

Rebuild data is presented on an element basis (sub structure etc.)

3
Q

Littleburn Farm: Why did you recommend a SE?

A

Out of my area of competence.

4
Q

How often should reinstatement cost assessments be undertaken?

A

RICS suggests every 3 years or when there’s a significant change.