Category Archives: Property Valuers

Avoid these property research mistakes

Research in the property world is important to frame any decision. As the two major factors, money and time are associated with the property market. They are highly valuable. Your single mistake can ruin your all efforts and can put a dent in your profit margins. You should take advice from the qualified and certified residential property valuer to make the right decisions at the right time in order to make profits. Apart from this, you should make the research to know about the property market. But people often make some mistakes while doing the research which can affect their decision and leads to having a serious loss.

In this blog post, we are sharing some common mistakes and tips to avoid the mistakes while doing the property research.

Over-doing – Lucrative business of real estate often makes people greedy and they start over-doing the property research which is dangerous and many times puts them in the pit of loss. Over-doing research is as equal as not doing any research. Just to get more knowledge people often do deep research which sometimes blocks their mind and leads to confusion. This over-doing research meaning larger sets of data and over-analysis which misguides the people and thus end up with major losses. So people should avoid doing over research just to earn more money.

Relying blindly on a single source – Research needs data and relying on a single source of data and stats is a completely wrong way. Instead of guiding the right way it sometimes misguides the people. The property market is very unstable and changes frequently. Thus creating the cent-per cent accurate data is very tough for any source. It is better to take data from various sources and then make a comparison. study those data and then reach to any conclusion. Relying blindly on single source and statistics is a major mistake which people do.

Not-doing any research – It’s true – research is a daunting task. But it’s unfair to avoid it completely. Not doing any property research before taking the property decision is sheer stupidity. As knowledge is must in the property market and no other best way than research to learn and predict the property world. Don’t forget you are buying something which costs you huge money with the hope it will give you future benefits. But without research, you can’t make sagacious decisions in the property market.

Taking short ways – Always remember shortcuts won’t take you to the top of the success. Unless you do it correctly you won’t get any advantage of it. This is the major rule of research. Though it is a boring and tedious task you should not choose the shortcuts for this. Some people often take the decision based on property appearance which is incorrect. This can put you in major trouble. Property buying, selling and renting decisions involves a huge amount of money so it is advisable and imperative to take the decisions based on reality and true facts.

These the common mistakes we should not commit while doing the property research. For the best residential valuation services, you can contact us. We have a team of expert and qualified Melbourne property valuers.

No one tells you what to check before buying a home

Becoming a homeowner gives you a sense of satisfaction, power and stability. It’s a dream for who don’t possess any home. It needs a huge amount of money and research before investing in a home. We usually ask our friends, colleagues and real estate agent before buying the home but often forget to take an expert advise i.e residential property valuer’s advice. Yes, you should hire a residential property valuer for advice as they know all ins and outs of the property market pretty well.

Apart from their advice, being a prudent buyer you should check the things before buying. Here is the list of the things you should check before buying a home.

Inspect the local area well – Visit the area at least three to four times at different time zones of a day. Look at the noise level of the neighbours, amenities nearby the property, know the crime rate, check the sufficient natural light coming to the property or not, Ask about the parking space for guest, any extension or renovation prohibited or not etc.

Manage your finance – Look buying a home is a big thing, you should hire a financial advisor to help you in managing the funds properly. Check your borrowing limits or how much loan amount you are getting from the bank? You can also check the deposit and other sources of finance if you have. Otherwise, a cause of lack of finance you may have to lose the deal.

The reason behind the property selling – Before buying any property know the reason why the owner is selling the property? Is there any story behind the property is on the market? Well, you can ask the owner directly but to know the real story you should ask the local residential property valuer they will narrate the whole picture in front of you. It is vital to know the backstory of home (if any it has). It might change your perception for the home or property.

Know your neighbours – You have to get socialised with your neighbours before moving to the area. Even before buying you should talk to them to get their information regarding the local area and thus you can check they are friendly or not. Look neighbours are going to put the great impact on your lifestyle choose them wisely.

Hire the professionals – While you are buying the home for the first time without any second thought you should contact the best solicitor, financer to handle legal and financial matter thus you can make buying home a nice experience. Ask your lawyer to check the legal documents before signing the agreement or ownership.

Check environmental risk – Know the impact of environmental hazards like flood, land collapse, fire zone in the area where you are looking to buy the new property. The area is prone to environmental hazards or not if they are then it is advisable not to buy the property there, cause fully covered insurance premiums of a home in those areas to cost you too much which is like bearing an unnecessary expense.

Follow these tips to before buying the home. Hire our residential property valuer for best residential property valuation services.

What does property valuation requires?

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.

Like –

  • 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.

Property valuation: How much does it costs ?

Are you looking for the property valuer? Or want to know the cost incurred in determining the value of a property. Then this post will help to solve your query.

Finding a property’s value is important from various reasons like – for insurance purposes, property tax, financial planning, selling or buying of the property. Definitely this will not matter to those who are living in a home or using the property and having no future plans to get move out of it.

Then why would they care about the property value. Obviously they will not. But surely it matters to those who want to put their property on rent, mortgage or sell.
Thus property value matters to many especially who are associated with real estate business.

Know why property value changes –

Property valuation is not a constant value. It varies from time to time depending upon the market conditions and economic value. It is important to do research before finalising the property valuation company for you.

How is valuation cost decided?

The property valuation cost also depends upon how much detail in property valuation report is required. When asked for more detailed report, cost will increase. It all depends upon the property valuation company you hire to estimate the fair market value of your property. There are companies who costs reasonably, when asked for property valuation like property valuation brisbane.

Is there any exact process of property valuation?

Companies have their own method of property valuation. Every company has its own process to evaluate property value. Some use the property data that is available in the online world. While other inspect the property before the realising the accurate property value.

Property valuation can be done for –

  • Residential buildings – houses, penthouses, multi storeys,
  • Commercial buildings – Shops, Outlets, Stores
  • Rental buildings – Flats, houses
  • Public buildings –
  • Government buildings –
  • Educational buildings – Schools, colleges, playschools and more.

There are various categories of the buildings with various requirements and specialities thus valuation cost also gets differ. It also includes –

  • Type of property
  • Floor space
  • Locality

Why property valuation is required –

  • When you are buying (pre-purchase valuation) a new home.
  •  

  • When you are selling (pre-sale valuation) your home.
  •  

  • In case of property settlement valuations.
  •  

  • To know the current fair market value of your house.
  •  

  • To mortgage a property.
  •  

  • For taxation purpose.
  •  

  • For compulsory acquisition.
  •  

  • For transfer of property.
  •  

Hire an affordable property valuer for property valuation Brisbane to get fast, accurate and reliable and timely services. Companies offer their property valuation services at low cost to make more clients. They conduct market research timely to ensure their fees structure as per the market condition.

Remember the property valuation cost you pay for valuation is not an expense. In real, it is the small investment given by the client to the property valuer in order to save large return.

Get the good ROI by hiring the right Property valuer brisbane to know the right market value of your real estate property.

The future of property valuers and their services

The Property valuation is the process of estimating the right value of the property considering the market condition and other factors.

The task of the property valuer is the tough one. The work needs accuracy, precision and great knowledge. To become a successful property valuer one should be aware of market and economical condition, mental judgement, and lots and lots of exposure to for the experience.

There is a significant change in the role of the valuer can be seen. In past they were asked to find the value of the property. Now, it is changed to provide property valuation report after the detailed analysis of the property which exhibits the detailed market study, right value estimation and future prediction also. Which demands to broaden their knowledge and analytical skills.

The valuers should be aware to improve their skills and forward thinking to survive in this era.

Challenges faced by property valuers

At the initial stages the property valuer’s main concern and task is together more and more data. On the basis of the data they assess the property. But with the rapid growth in the field of the information and technology has made property valuer less concern about the data gathering. Now more data is easily available to the valuers. Previously it depends on how much data a valuer has? Is completely shifted to – what they do with the data they have?

The major threat to the valuer and their valuation practice is the use of online property valuation tools. Clients get influenced with the free online valuation tools and start using those tool. As they are easy and quick to get the estimated value of their property. But are they reliable one? No. No one tool can replace the human being. The valuer keeps eye on the every factor while evaluating the property’s value. They consider the factors first then with the analytical skills they evaluate the property’s value. Though the automated valuation process eats the business of the property valuers. But sooner or later people will understand the real important of having a property valuer.

The risks associated with property valuer professional can not be ignored. Whether it is about market analysis, new developments, and commercial property, investment funds, and insurance.

The role of the property valuer will shift to explore future property valuation rather than current valuation (i.e on the day of the sale).

It is predicted that the property valuation profession will be focussed on valuations for the present, present future and future future. The process to evaluate the current market value of the property i.e present, the present future indicates next 1-2 years and future future shows 5-10 years will require.

The future of the property valuation and valuers is save and secured. In coming years it is going to increase only. All the property valuer aspirants should keep the honesty in their soul and accuracy in work. Get in touch with the best property valuer soon to enjoy the services.

How much does the property valuer charge for a ‘property valuation’ report?

Property valuation process that is something required after every certain interval of time because property value is dynamic in nature. It changes constantly, as it depends upon various factors like market conditions, economic factors, sales comparisons and more.

To determine the right value of your property the property valuer is needed. There are tools present in the online world for property valuation that is for free. But these tools are not reliable one as the property valuers are.

The property valuers are the skilled experienced professional who possess good knowledge of the market and evaluates the actual market value of the property.
Definitely for availing the property valuation services you have to pay the fees of the valuer. Though conceptually it won’t cost you much. Because the profits you are going to make from the real estate property financial deals going to amaze you only.

The fees or cost of property valuation depends upon various things –

The property’s actual value – The cost of the valuation or the fees of the valuer will depend upon the property’s actual market value. You have to pay some amount that is fixed before valuation in the form of the fees to the valuer.

Based on hours – The time of property valuer is evolved in the valuation of the property. Some valuers charges on the hourly basis.

The reason of the valuation – What’s the reason behind the valuation of the property. It varies from person to person, for buying, selling, mortgage purpose, for settlement of the family dispute, marriage settlement related to property. So different reasons will cost the different price.

Size and type of the property – The valuation cost depends upon the size and type of the property to be evaluated. Say for the property is in rural area or in the city. The type is commercial one or used for residential purpose. Thus cost of the valuer varies.

Depends upon valuer – The valuers fees varies as per the city and client too.

The property valuation report is provided by the valuer after inspecting the property which includes the references, complete details of the buildings like address, geographical location, name of the owner, building material used, building structure, council zoning, availability check for the front yard, backyard, garage, garden or not. Description of the building and premises, current condition of the building, improvements needed in the property, coloured pictures of the buildings and more.

Though there are various online property valuation tools are present in the online market, which can help you to estimate the property’s value on your fingertips without requirement of much time. But those methods are not reliable one. So why to take risk in such cases especially when it comes to financial matters.

Look the cost you pay for the property valuation is little investment you make to crack the good real estate deals and to earn a good amount of the profit.

Then why to think more before hiring the property valuer? All you have to do is research and get in touch with two-three valuers of your town and ask their fees and the services they will provide. Choose the one who is trusted and provides appropriate property value.

Hire to property valuer soon to know the actual market value of your property. Then what you are waiting for? Hurry up.