Land valuation
International Land Measurement Standard: Due Diligence for Land and Real Property Surveying, 1st edition, published by the International Land Measurement Standard Coalition in May 2019, defines land valuation as: ‘An opinion of the value of a land asset or liability on a stated basis, at a specified date. Unless limitations are agreed in the terms of engagement this will be provided after an inspection, and any further investigations and enquiries that are appropriate, having regard to the nature of the asset and the purpose of the valuation.’
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