Why should I get
a Valuation?

A valuation is an essential function that underpins all property transactions and ownership. How many property owners really know what their property is worth? Many may perceive a property valuation as unnecessary, however this is not always the case. A property valuation or market assessment will often reveal that many tend to overestimate or underestimate the market value of their property. It is of great importance to make use of the services of a reputable real estate agent, or a certified valuator as analysis and knowledge of current conditions in the property market play an integral part in a property valuation.If you have ever bought or sold a property, you are aware that a valuation is a prerequisite to proceed with the transaction. Here are some other benefits to obtaining an up-to-date property valuation on a regular basis.

Obtaining finance

Should you require additional bank funding, whether your reason for securing a loan is to to buy new property or require capital for deposits, maintenance, developments, investments etc. Banks will require a certified valuator to confirm the worth of your property.

End of lease repairs

If you do not own your property then you will have a landlord. Therefore when a lease comes to an end, depending on the repairing liabilities of the lease agreement, the landlord may try to claim for dilapidations. In determining the value of the property, the valuator will assess the current condition of the property, the required maintenance obligations and further indicate the costs involved to compensate.

Rentals and expenses: Market-related

A valuation allows you to assess rentals that are currently being charged on similar properties in the market. Therefore, this can be used to your advantage as a guideline to establish if there is a possibility for increasing these rentals and raising the value of the property at the same time.

Company Account Purposes

Land and buildings are required to be valued to current market value, unlike other assets, which are often written down over a number of years in the balance sheet. In addition, if an up-to-date valuation is at hand, this can save you time and money when other professionals require one from you.