This is something interesting to know about. Yet, many people are confused with this. Which is right and more authentic. Which one is going to help in making our financial decisions. So here in this post you will get to know about the — thin line difference between registered valuers and real estate agents and how this difference can create a huge difference in your property valuation.
Who are property valuers and how they work?
Well, registered property valuers are professionals who inspect the whole property minutely for the property assessment, then prepare the complete property valuation report and finds the accurate property value. This is something formal valuation performed by the well-qualified property valuer who has good market knowledge, observational and analytical skills.
Real estate property valuations is a tedious task and takes few days to complete it. The registered property valuers charge fees according to the valuation requirement of the property, size and location of the property.
The valuation report provided by the valuer is considered as the authentic one. In legal matters government asks to have a property valuation report from the registered valuer.
Who are real estate agent appraisals and how they work?
While the appraisal can be performed by real estate agents, who possess local market knowledge and having previous sales record. By keeping those things in consideration, they put a value that is purely based on judgement. They are not authentic one and values they give are not definitive.
Even property appraisals don’t charge for this service. Just on the single request, they provide you the estimated price of the property.
They work on the request of potential vendors and gives biased appraisals. It is a sheer opinion of a real estate agent and it is completely free.
Why to pay for property valuation, when you can get property appraisal for free –
Because nothing free, is good in this world. Yes, agreed property appraisal is free then why to pay to property valuers. Because appraiser are not the authentic professionals, the value estimated by them is not accepted in legal matters. Whereas, the property valuation is estimated by qualified and registered professionals who’s estimated property value and report is accepted in all legal matters.
Which one is better?
Obviously, property valuation from the property valuers as they are potent enough to provide you the right value of the property.
When you actually need a property valuation?
When the definitive value is required, you need the property valuation. To resolve any property issue, property settlement, in case you need finance the property, to refinance the property, to get loan from banks etc. In these cases, one can easily reach to the right solution because the valuation reports provided by the property valuers possess all the related and required information of the property.
Does property valuers help to increase the property value?
Yes, the report provided by the valuer contains the improvements required in the property. So the little renovation can bring the big difference in your property’s value.
Factors which affects property value – Geographical location, structure, type, a condition of the building, features, area of the property, renovation required and more.
If you have any query related to your property valuation, then feel free to contact us soon.