Know the value

[Kevin59]

If you are proud owner of a property in Kerala but do so for investment purpose, then there will come a time when you will look for good buyers for your property. The factors that have an impact on the market value of a are; demand and supply forces operating in the property market, kind of property, commercial or residential, quality of construction, location, the local infrastructure available and maintenance of the property and the premises. Property valuation is an important part of a transaction. The valuation process evaluates the market value of the property. A detailed valuation report contains value of all the major assets of a property and also the basis and manner in which the valuation has been performed. Valuation or assessment of a property can be a self-assessment if one is aware of the going rates of the property in an area but it is always better to enquire form an external source. One can seek the services of various professional agencies or hire a government registered value for a fee as prescribed by the valuer’s association. Some real estate agents too conduct valuation of property based on the prevalent rates in the real estate market of that area in which the property is located. Value certification also comes handy in situations where the correct value of the property has a legal bearing-such as, a will statement, insurance papers, business balance sheets etc.

It is sensible and prudent to conduct an official property valuation since the valuation report comes handy in any kind of financial transaction related to real estate. For instance, the bank's loan approval process would be expedited if the property is certified and valuation has been conducted by an official valuer.

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[jack124]

Hello Kevin,

Thanks for this information.

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