There are a number of issues that every party instructing a valuer must do in my opinion to obtain an accurate and true assessment of value. The six essential tips when getting a property valuation.
- Letter of Instruction
- Date of Valuation
- Copy of Certificate of Title
- Contract of Sale or Rates Notice or any sales that you are aware of or information specific to your locality
- Lease If Applicable
- Make sure that the valuer that is valuing your property has the qualifications and expertise
Property assessment or valuation is nothing but determining the value of a property in economic terms. It is also popularly known as real estate appraisal.
Whether the concerned property is residential, commercial, industrial or retail, it is often a confusion that, ‘Am I paying right price for the right property? Is it actually worth it?’, etc. Well, property valuers are the expert professionals in the real estate industry and know all ins and outs of the property world.
However, even if you are not an expert, here are a few simple and quick tips for you to know better about property valuations and ensure that you are on right track while going about any property valuation.
- What is an independent property valuation?
A valuer assesses the value of land, buildings, improvements and other factors that influence the value of your property, a process that usually involves an external and internal inspection of the property. Valuers are independent with no vested interest in the property they value. A valuation report is a legal document of the value of your property prepared for many different purposes:
The question is always asked: why would you waste your money getting a property valuation? There is no need, it’s not worth the paper it is written on.
The truth is, as a leading provider of property valuations within Melbourne, if you don’t get a property valuation, your transaction may fall below expectations desired results to not achieving all your KPI’s and if not your own, your lender’s KPI’S.