What Are The Different Types Of Property Valuations?

Have you ever wondered what a property valuation is? Simply put, a property valuation is an estimate of how much a property would sell for if it was put on the market. Property valuations are used by different people (for example real estate agents, property investors, and property owners) and they can serve a different purpose in each case. At Property Point we have professional property valuers that are excellent at coming up with accurate property valuations. If you need an independent property valuation done in NSW, give us a ring. In this blog, we will discuss the different types of property valuations and explain what purpose each one serves.

1. Desktop Valuation
This is when the value of a property is determined with limited information. A certified property valuer will use comparable sales and other publicly available information to come up with the property’s value. This is a quick way to get a rough estimate of the value of a property because there is no site visit and all the work that is required can be done by the valuer at his desk.

2. Kerbside Valuation
This is a more in-depth method when compared to Desktop valuations. A certified property valuer will go and inspect the property, but they do not get to inspect it inside the property. They will assess the location, the outside amenities, and the state of the property from the outside. Market value reports, mortgages, and pre-sale assessments usually use this method. It is a good way to reduce the amount that you will be charged by the property valuer. You get charged less because this is not comparable to a full property valuation and it is also very informal. However, it is important to note that this kind of valuation does not work for commercial properties. It is best reserved for stand-alone homes and other residential properties.

3. Full Valuation
This is what most people imagine when they hear about property valuation. A full valuation requires an extensive look into all the aspects of a property and thorough research so that a very accurate value of a property can be ascertained. Every aspect of the property is examined in minute detail. After a valuation is done, a full report will be drawn up and it will list all the properties of the building in question and give reasons why the is as stated. At Property Point, we perform all the above-stated types of property valuations. If you are ever in need of any valuation services, do not hesitate to call us. After all, is said and done, the decision of whether to sell or lease is a very personal one. At Property Point, we have a fully qualified team of property valuation experts that can make this process much easier for you. Contact us today!