The chief item that a property valuation report shows is just the single sum or the price range determined by the professional property evaluator as the proper market price of the property.
However, all property valuation companies offer different things and some of them provide a lot more information than this single figure in valuation reports.
They will give you a complete overview of the steps that they followed in their research to reach a correct conclusion.
They also provide their clients with some basic guidelines which help them to use and interpret the information.
Here is a list of some of the items that you may get on a property appraisal report.
Legalities - These are the most essential part of any property valuation report: Registered owners or proprietors A Legal description of the property including the land the structures Resource/zoning management Assessments including rates Region - In this section an evaluator will describe the details about the area and the demographic description.
This includes the features and facilities available in that area and its surroundings.
Description and basic detail of the property - In this section a description of the different aspects of your property related to its commercial or residential market valuation are provided.
The things not affecting the final price guide in any way are normally ignored.
For instance, you may have to walk a little distance from the laundry to the washing machine.
This kind of detail would be considered as insignificant as most people do not consider it and would not be included.
A complete description of improvements - This is the most important and crucial part of any property valuation report.
Any improvements made in the property can increase its value significantly hence they are always mentioned on the valuation report.
The approach used - Normally three methods are used by most property valuers to value the property - sales approach, Income appreciation approach and depreciated replacement cost approach.
List of similar sales - Most property valuers will provide you with a list of equivalent or similar sales so that you can assess the value of your property properly.
In spite of following all these steps and keeping these point in mind while forming a property valuation report, there are some other factors that affect the selling price of the property.
Is the transaction an arm's length transaction? Have you conducted proper marketing before offering the property for sale? Are all parties acting with proper knowledge and is there any compulsion on either the buyer or seller side? Another thing that you need to keep in mind is that property prices all over the world change quite fast.
Hence you property assessment report will be valid only for a short duration.
The sooner you sell the property after the report is made, the more accurate it will prove to be.
If you are looking for good Property Valuation Company in any part of the world, you can find them on the Internet.
These companies have user friendly websites which describe their expertise and skills in detail.
You can compare the information on different websites and make an informed choice.