We work with certified surveyors and together with our team we even put together a reasonably accurate estimate of the property’s value. Apart from the basic guidelines that are put down by the local government and the land revenue agencies, we have the ability to factor in market trends and events such as recent sales of similar local properties.
Our Appraisers are third-party certified or licensed contractors. Knowledgeable in real estate they are also well versed with neighbourhood growth, housing trends and market conditions. As a potential buyer you have the option of getting a detailed appraisal done or simply a “drive-by appraisal” . This gives you a quick and easy to understand guesstimate of the value. This could also help in triggering the decision making process in the right direction. An appraisal takes about seven working days, sometimes busy market conditions can take even more time. Your Relationship Manager can throw more light on this.
Some aspects we factor in during the valuation and appraisal process, more as a checklist are:
– Physical location – Building structure – its condition and any structural faults – Presentation (including fittings) – Access – vehicle access, pedestrian access, off-street parking – Special features – Planning restrictions – Local municipality’s zoning – Caveats or encumbrances over the property.