Informed Consent
Last updated
Last updated
Informed consent in real estate valuation is the client’s approval to proceed with a valuation, given after full disclosure of any potential conflicts of interest. It ensures the client understands any risks or biases that might affect the valuer’s impartiality. This process is documented to confirm that both parties acknowledge and accept these conditions.
By obtaining Informed Consent, the valuer ensures that the client is fully aware of the nature and limitations of the valuation service, and that they accept the associated risks and responsibilities. This process helps to establish a clear understanding between the valuer and the client, minimizing the potential for misunderstandings or disputes.
InterVal's Informed Consent feature streamlines the process of creating and managing these important documents, ensuring that valuers can efficiently communicate the key aspects of the valuation service to their clients and secure their informed acceptance of the terms and conditions. This maintains transparency and compliance with RICS and IVS.