Keeping valuation evidence for the sale file
- Topic
- Equipment valuations
- Reading time
- 3 minutes
- Last reviewed
On this page
Keep the valuation report with the instruction, asset schedule and clarifications that explain it. A PDF containing a total is not the whole evidence record, especially when the sale scope changes afterwards.
The file should let another authorised person answer a simple question: which opinion supported this decision, and what information was available at the time?
Build an evidence index
Use the business's normal approved storage system. The index matters more than a particular folder name.
| Reference | Document or record | Version and date | Purpose and access |
|---|---|---|---|
| Instruction | Agreed brief and terms | Current agreed version | Defines the question and permitted use |
| Asset scope | List and inclusion schedule | Version used for the opinion | Shows exactly what was covered |
| Inputs | Photographs, records and relevant reports | Dated source and custodian | Explains the evidence supplied |
| Opinion | Report or estimate | Valuation date and report date | Records the conclusion and limitations |
| Clarification | Question and written response | Date and affected section | Explains later interpretation |
| Change | Revised fact or scope | Date identified and decision owner | Shows why further work was requested |
| Outcome | Relevant offer or sale record | Confirmed status and basis | Supports a later comparison |
Use stable asset references across the index. A document concerning one machine should not become evidence for another because they share a make or sit in the same room.
Preserve the status of outside price evidence
For market examples, keep the source, date and whether the figure was an asking price or supported sale result. The comparable-evidence guide provides the fields.
Retain appropriate records through the business's authorised process. Access to a listing is not permission to reproduce another seller's catalogue as your own content. The aim is an internal, traceable decision file.
Keep versions understandable
Do not overwrite the original report with an edited copy. If the valuer updates it, mark which version is current and preserve the earlier one according to the business's records policy. The valuation-date guide helps distinguish a new report date from a new opinion.
When comparing reports, retain the questions and replies as well as the originals. Use the report comparison worksheet to identify the exact differences being discussed.
Plan access after people or premises change
Name the person responsible for the file and an alternative. Check that authorised colleagues can open the relevant links. Avoid keeping the only copy in a departing employee's personal folder or an email account nobody else can access legitimately.
Ask the accountant or legal adviser about retention requirements for the actual business and transaction. Do not apply an invented universal period to every document.
Connect the index to the overall sale project file so approval, sale and settlement records can be traced back to the opinion used. When working with UK Auction Group, ask how revised advice and clarifications will be identified. A clear record makes later questions easier to answer without rewriting what happened.
Explore the valuations guides.
Professional reference: RICS.
Sources
This guide gives general information. Equipment-specific, legal, tax and safety decisions may need a qualified adviser or competent specialist. The guides do not promise sale prices, fees or results.