Property valuation, the vital process in making real estate property decision. It helps to know the right value of the property. The property valuers assess the accurate market value of the real estate properties like land, residential buildings, commercial building etc. by keeping the various factors into consideration like land, location, area, structure of building, improvements required and many other factors.
Basically property valuation involves the property owner and property valuer. The valuer visits the complete property, inspects the inside and outside of the building minutely. Then ask some questions to the owner related to the property.
- Name of the owner.
- Reason of valuation.
- Constructed year or age of the building.
- Quality of material used.
- Renovation done in previous years.
After inspecting the property and collecting all the required information house valuer do some calculations and then gives you a definite value of the property. Which is considered as authentic and legal. Even to resolve the property dispute cases, government too ask for property valuation from the registered property valuer.
What is the major difference between property valuers and real estate agents?
Property valuers are the qualified and registered valuers who evaluates the accurate property value and provides certified valuations by their precise observational and calculative skills, market knowledge with study of previous sales history.
Whereas, real estate agents are the not qualified valuers they are not capable enough to provide the right valuation figures. They just do it on request.Their experience and local market sale knowledge allow them to give the approximately value of any property.
Reason for valuations – Your reason for valuation may be different like –
- Purchase and sell of the property
- Rental purpose valuation
- Insurance premiums
- To settle family property dispute
- To settle marriage dispute
- To know the current market value of the property.
Any from this can be your reason to find the value. But make sure to hire a registered residential property valuer. As they have no interest in your property, they are honest and unbiased. They work accurately to find the right market value. They also suggest the amendments should be made to increase the value of the property. They charge for their services they offer.
Do you know what is the valuation cost?
Valuation cost is the fees of the professional property and house valuer who charges according to the size of the property, constructed area, type of building, reason of valuation and more. There is no fix card fees for property valuation services, Because every property is unique in its own and same with their requirement of valuation. So it is quite difficult for valuers to set the price of their services.
How online valuation tools can help in this?
Online valuation tools are easily available free of cost in the online world. But majorly people don’t trust the valuation figures came out of the online tools.
The online tool is the technology that cannot replace the importance of having the property valuer, who is well educated, knowledgeable person and inspects the property personally that helps to find the accurate value of the property in more righteous way.
To hire the best, affordable and honest property valuer for your property valuation services. Feel free to contact us.