Randy Sullivan 
Expert assessment of the true value is important for those who are planning to buy or sell a property. There are several reasons why you should consider having a property valuation done. This will help you understand why it is very important to consider getting a property valued before buying or selling.
Property Valuation: An Explanation for Beginners
Some companies offer free property valuation hong kong. But why do you need it as a buyer or seller? How can it impact the value of the property? Getting a property assessed for its value is often based on the location, the condition of the property, and other various factors that affect its resale value.
A qualified surveyor assesses the property in person. Photographs and videos of the property as well as important information to be taken are gathered. The valuation report will then be sent to the requestor. This can then be used to determine a fair value for the property being sold.
The Role of a Professional Property Surveyor
The property surveyor is the one who assesses valuation. Several factors are considered during this assessment. The location, size, overall condition, and layout of the property are looked into. This can help them approximate a realistic figure of the value of the property. Other similar properties in the area and the market condition will also be considered during the assessment.
Important Scenarios Where Property Valuation is Needed
You now have a good understanding of what property valuation is. But when do you need it? Buying or selling a property is often the reason. Other than that, others seek property valuation for these scenarios.
- Shared Ownership Valuation. As a shared owner of the property, you own a portion of it while you rent out the remaining portion. Some owners use the ‘staircase’ method where they buy a little bit more of the property to increase their equity. And every time you purchase a portion, it needs to be valued to stay current.
- Matrimonial Valuation. When a married couple decides to divorce, they have to divide their properties. And this is one reason to get it valued. An unbiased surveyor can help you come to a fair agreement based on the true value of the property.
- Probation Valuation. The executor of an estate that includes a property must seek to have it valued by a professional surveyor. This can impact the inheritance tax. The inheritors of the property must get it valued as this can help when deciding to sell. This can also help if there are multiple inheritors involved.
Choose a Reliable Property Surveyor
For those who are planning to buy or sell a property, having it surveyed and valued can greatly affect the overall process. That is why you must choose the right property surveyor. There are several to choose from in Hong Kong. This is why you must do your thorough research before you decide to hire one. Check for your options online or ask for local recommendations from people you trust.
