Experts is buying, selling and valuation – BuyOrSellAProperty.com is here to help you. A property valuation report dictates the amount of money or range of price for which you can sell or buy property in a given location. The value of property is also referred to as the market price. Generally, property valuation should be done by a property valuator from a reputable company.
Even then, it is important to keep in mind that different property valuation companies will offer different information as well as services. Thus, while one company will simply share the valuation report others may offer more information to help you understand how the projected value better. Therefore, you need to know what you should expect from your property valuation report way before you engage a property valuator. For starters, a standard property valuation report needs to include the following information:
- A list of owners as well as registered proprietors. That is who owns the property in question.
- A description of property according to the law. This includes the structure of your land.
- Zoning/resource management
- The market rate of your property at the time of valuation.
- The region where the property is located – This includes the complete details of the location where your property is situated and this includes demographic information as well as facilities that can be accessed in the area.
- A complete description as well as basic details of the property – This section contains details of your property in terms of the commercial market value as well as residential the value.
- A description of improvements – This is highly regarded in any property valuation report as it highlights if there is an opportunity for improving the property in a bid to increase its value. In fact, this is the reason why descriptions to do with improvement of property are often detailed in the valuation report.
- Information on your neighbourhood – This is also crucial as you can tell the right market value of your property by comparing it with the price of similar property in the same neighbourhood. In fact, this is one of the popular methods that is used when determining prices of property.
Property valuation is multifaceted as it takes into account multiple factors. Therefore, you may need to be present when the valuator is making the estimates in order to help them get the right details about your property if they are to carry out a valuation and arrive at proper estimates that are in line with the market trends.