Property Futures

Real Estate News, Reviews and Investment

Professional Valuation Surveyors

Valuation surveyors are qualified, often licensed, professionals who survey an asset in order to determine its value. Using a selection of techniques involving research and comparisons, valuation surveyors provide a report to investors to explain the value assessment and profit prediction, plus an explanation of how the information was calculated.

Image Source: Goodrich Surveyors LLP goodrichllp.com

Image Source: Goodrich Surveyors LLP goodrichllp.com

Valuation is the process of assessing an asset to discover its value. The role of a valuation surveyor varies from region to region – in some areas an estate agent or a chartered surveyor may undertake the responsibility, but in many other countries, property valuation surveyors are required to undergo training and examinations before being licensed.

In some countries, a property must be valued by an independent professional in order to:

  • Buy or sell
  • Get a mortgage, remortgage or a business loan

What do professional valuers do?

A professional valuer will use experience, data and models to calculate the value of an asset. This can include:

  • Inspecting a property or asset
  • Comparing it with similar assets
  • Researching value indicators and trends
  • Developing or using computer models and spreadsheets

Their report will include a value as well as a market value (sale price), plus a  profit prediction or rate of return and may explain why these values were given.

Why should I use a professional valuer?

 

As with any other investment, property investment comes with certain risks. A professional property valuation expert can help you reduce these risks by giving you an idea of the real market value of the asset, which may be rather more or less than the asking price or even its actual worth.

An independent property valuer will also be able to provide you with useful information to help you make strong investment decisions.

This is particularly important if the property is hard to value or likely to have an inflated value such as:

  • Rare or unique properties, including listed buildings
  • Businesses and commercial property
  • When prices are falling
  • Any offer which seems too good to be true
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