Independent & Accurate Property Valuations
When applying for a home loan, property valuation would be an important part to consider. It is a must to do so, so that the determination on the security value for the said property can be made while a home loan is being offered. When you ask the bank to loan money to buy a home, a valuation would be carried out on the new property. The same would be the case when refinancing or equity access for your home is talked about.
Types of property valuation reports
There are two types of property valuation, residential and commercial. The factors to determine each type would be different, say experts. The property would be measured; details such as the type and number of rooms, fixtures in each room, fittings et al would be taken into account for valuation. Other unique attributes that would be considered are;
These are the attributes along with comparison of sales around the region, and the market conditions at the moment which would help in producing a valuation report.
Reason for property valuation
Some of the reasons why clients get property valuation done are;
What includes property valuation report?
A property valuation report would always have a summary and details of the property, such as;
The market is constantly changing and because of it’s nature, a property valuation report can be trusted for ninety days post inspection of the said property.
Once the valuation of the said property is done, and if ninety days post the inspection has finished, there would be a “letter of comfort”, “market change opinion” sort of intimidation sent to the property owner. This would be to inform the client if there have been any dramatic changes that may have happened in the past ninety days, which may or may not affect the valuation of the property.
To know more about the importance of property valuation, it would be best to check online for more information, speak with the professional experts. There are lots of professional agencies in Australia which provides property valuation services in Melbourne and other major cities in Australia.