Retrospective Valuations, MIP and Forced Sale Values

We'll be introducing a new variant of a ShortForm report, a Retrospective valuation.

These valuations are done as a comparison to an original report, and use sales evidence from the period of original valuation.

For MIP (Mortgagee In Possession reports), we'll sometimes require a Forced Sale Value - what the subject property would fetch.

Of course, then there's the combination of a MIP Retrospective valuation - we aren't currently explictly modelling this, however may do so in the future.

Retrospective valuation requires a valuation date which is the date of original inspection and will be the 'valuation assessment' basis.

Check out the service type mappings.

Service type: XPaths

We'll parse and render a both of:

//FullRegistered[@ValSubType=ShortForm]
//FullRegistered/SubTypeNote/text() == "Retrospective Short Form"

To indicate we are ordering a Retrospective Short Form.

We'll parse and render both of:

//FullRegistered[@ValSubType=Standard]
//FullRegistered/SubTypeNote/text() == "Retrospective Long Form"

To indicate we are ordering a Retrospective Long Form.

Forced Sale Value: XPaths

ValEx will look for a Forced Sale Value in both of:

//ValueComponent[@OtherValue]
//ValueComponent[@OtherValueDescription="Forced Sale Value Range"]

Formatted as a xsd:decimal.

Valuation Date: XPaths

ValEx will model valuation date as an inspection appointment.

//FullRegistered/InspectionAppointment[0] # Normal inspection information
//FullRegistered/InspectionAppointment[1] # Retrospective valuation date

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Example snippet - Forced sale value

Put in the min - max, and seperate with a comma.

<ValueComponent ... OtherValue="50000.00,200000.00" OtherValueDescription="Forced Sale Value Range">
   ... other xml ...
</ValueComponent>

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Select your preferred way to display the comments and click "Save settings" to activate your changes.