Property valuation is the process of estimating the market value of a property. The value estimated by a professional valuer is usually different from the value estimated by the property owner.
The valuer takes into account a number of factors, including the location of the property, the size of the property, the age of the property, the condition of the property, and the type of property.
A professional valuer will also consider the current market conditions, the future market trends, and the potential for capital growth.
The valuer will also look at the comparable sales in the area, and the overall supply and demand in the market.
The benefits of property valuation include:
1. A professional valuation provides an unbiased opinion of the market value of a property.
2. A valuation can help to negotiated a fair price for a property.
3. A valuation can help to avoid overpaying for a property.
4. A valuation can help to make sure that the right property is being bought.