A Private Valuation is often done for dispute purposes, where no detail of the condition of the Property is required, i.e Probate or Matrimonial reasons. A Probate Valuation will usually be commissioned by an executor who wishes to value the property of an estate with reference to their obligations to the beneficiaries and any liability for inheritance tax. A Valuation in the situation of a divorce, or a sale within a family, will also be carried out in a similar way.
For Valuations we do NEED TO KNOW the "Purpose of the Valuation" for example - Accounting, Bankruptcy, Valuation Challenge, Equity Consolidation, Inheritence Tax (Probate), Matrimonial, Purchase, Reinstatement or Rental Valuations.