Real estate appraisals, or property valuation, are essential in a variety of real estate transactions. Because real estate transactions occur infrequently, each is different and requires a specific appraisal. West Coast Valuers is one of the authority sites on this topic. A property valuer is an expert who can provide an accurate and timely analysis of a property. They can also assess the value of a home or business, and can recommend appropriate strategies for maximizing value.

When determining the value of your property, a property valuer will look at three interrelated elements. The first is the location and aspect of the property, followed by the size of the plot and the features of the dwelling. Aside from the actual dwelling, they will also take into consideration ancillary improvements, such as fences and garden areas.

An internationally accepted standard for property valuations is reflected in the RICS Red Book. Valuers who hold certification from the OCCVI Certification Body meet the requirements of Directive 14/17/EU. The RICS is an international professional organization with a presence in the United States. It has a global membership, and is increasingly active in the United States.

The second approach, the cost approach, is similar to the sales comparison approach, but uses comparable properties in estimating a property’s value. This method assumes that the property will be sold at a price that is similar to the price of comparable properties. It also assumes that the buyer will not pay more than the equivalent property.

To perform a property valuation correctly, a valuer should be trained in urban planning and the economics of property markets. They also need to have an understanding of public and private law. They should also be familiar with cadastre and construction techniques. Further, they should be familiar with the environmental certification and energy efficiency requirements of buildings.

A property valuer is a professional who specializes in assessing the value of land and buildings. They analyse a variety of information related to a property and present their findings in a Valuation Report. This report will include a description of the property as well as comparable sales in the locality.

A degree in economics or finance will qualify you to become a property valuer. While education requirements vary from state to state, a four-year degree is usually required. However, a few states may have lower education requirements. For example, in New York, an associate’s degree is required for entry. Once a valuer has completed this degree, they must take a trainee appraisal certification program, which usually involves 75 hours of study.

Property valuations are an important part of buying a home. Proper valuations will help you understand your property’s true worth and the correct price to sell it for. The process can be intimidating, especially if you are buying a home for the first time. So, before hiring a property valuer, be sure you have all the information necessary to make the right decision.

Contact Info

West Coast Valuers
251 Adelaide Terrace
Perth, WA 6000
Phone No. : (08) 6245 2131