Things about property valuations you may not have known
Property valuation the most essential aspect when making any decision related to property valuation. Property valuation is though performed by the professionally qualified valuer who understands the market condition well. Who visits the property and gather the all the relevant data in order to find the actual value of the property. Value evaluated by the property valuer helps you to make the accurate decisions related to the buying and selling of the property. The expert and experienced property valuers provide the property valuation report that is well accepted by the government and in legal matters.
There are some facts you should know about the real estate property valuations services –
There is a difference in valuation and appraisal –
A property appraisal is done by a real estate agent who is a non-qualified and non-professional agent who has idea about local market and sales history on the basis of it the appraisal value is given by the appraiser. Whereas property valuation is performed by the property valuer who is a well-qualified professional and determines the exact value of the property by keeping all the influencing factors into consideration.
There are different types of valuations –
Full side valuation, Kerbside valuation, desktop valuation, online valuation. Yes, there are various ways to evaluate the property value. The full side valuation needs valuer to inspect the property well and prepares the property valuation report. This valuation method involves the each and every factor minutely and precisely. Whereas kerbside valuation needs valuer to look the subject property from outside. The desktop valuation needs online reports and recent sales data to evaluate the property value. The DIY (do it yourself) method is online valuation where you just need a computer or a laptop and an internet connection to evaluate the property value. Though it is the not the reliable method to find the property value. The best one is a full valuation method which is well accepted in the legal and governmental methods.
You can help your property valuer in the process –
What you want from valuation services? Obviously the right property value of your real estate building. To assist your real estate property valuer while visiting your property mention each and every renovations and improvement made in the buildings. It might be possible that the valuer miss any of them. So it’s your duty to help the valuer, overall it’s your property valuation.
Comparables are vital for valuation –
Yes, the best method of property valuation is sales comparison method. In this method the comparables of the subject property is searched out and then the valuer makes some adjustments if needed and finds the property value. Finding a comparable is a tough task though for residential property you can but it is next to impossible to get the comparable of the commercial building. If in case of the comparables can’t be find out, then property valuers rely on their self judgement for property estimation, analytical and observational skills to find the right value of the property.
Want your property to be valued by the expert property valuers. Contact us we have a team of expert and experienced property valuers who are happy to assist you.