When to update a machinery valuation before selling
- Topic
- Equipment valuations
- Reading time
- 3 minutes
- Last reviewed
On this page
Ask the valuer to revisit the advice when a change may affect its purpose, scope or assumptions. You do not need to decide yourself that the old figure is invalid. You do need to disclose the change before relying on the opinion for a materially different sale.
The right response might be clarification, additional evidence, another inspection or a new instruction. That depends on the circumstances and the valuer's assessment, not a fixed calendar rule.
Start with the original opinion
Check the valuation date, purpose and asset schedule. Read the assumptions that relate to the proposed sale. Then compare them with what you now intend to do.
Do not request an update simply by asking for the same report with today's date. A meaningful update concerns the underlying evidence and instruction, not the appearance of the cover page.
Change-to-action checklist
| What has changed? | What to send | Decision to check before proceeding |
|---|---|---|
| Asset package | Revised schedule identifying additions and removals | Whether the reported scope still matches the offer |
| Condition or operation | Dated observations and appropriate reports | Whether further assessment is needed |
| Site or removal arrangements | Confirmed location, access and responsibilities | Whether the sale premise has changed |
| Marketing period | Actual dates and reason for the constraint | Whether the original time assumption remains suitable |
| Intended user or purpose | Recipient's stated requirements | Whether the existing work can be used at all |
| Ownership or licence information | Relevant confirmation from the appropriate party | Whether an earlier assumption needs changing |
| New market evidence | Traceable source and comparison details | Whether it is material to the opinion |
Record the date the information was sent and the valuer's response. An unanswered update request should not be represented internally as approval to keep using the original figure.
Keep urgent decisions visible
Tell the valuer which decision is waiting: approving a reserve, comparing an offer, changing the sale package or preparing information for another adviser. That helps define what clarification is needed and when.
If the deadline has become short, say so plainly. Do not quietly continue using a figure based on different marketing or access assumptions because there is no time to discuss it.
Preserve the versions
Keep the original report, your change note and the later response together in the evidence file. Identify which version supports the current decision. Retain superseded records through the business's normal document process instead of overwriting them and losing the history.
If the purpose has changed substantially, use the brief template to state the new instruction clearly. A fresh purpose may require more than a revised total.
Contact UK Auction Group with the earlier advice and the change checklist, subject to any sharing restrictions. Ask what can still be relied on and what needs further work. That gives the update a clear purpose and leaves the decision record understandable to the next person who reads it.
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.