What do you need to know about commercial property valuation Perth?

Posted by GeorgeVelvet on February 19th, 2013

Whenever it comes to dealing in properties in Perth commercial property valuation Perth or house valuation Perth is essential. And it is not only in Perth in Australia that this is done. Go to any country anywhere in the world and you will find that there are specialized property assessors everywhere. Their job is to assess the values of commercial and residential properties so that the exact value is paid by the buyer and the exact value is received by the seller.

There are various purposes for which commercial property valuation Perth or house valuation Perth is done. It is mostly used when a property is about to change hands. The seller would obviously want a premium price on the property but the buyer would also want some discounts. There are many buyers that don’t get into the hassle of bargaining. They arrange with the seller to have the value of the property assessed so that the right amount goes from the buyer to the seller.

Property valuation is also important from the legal aspect. When there is a dispute over inheritance and a property value has to be divided among the heirs property valuation is absolutely important. Otherwise there will be no end to the disputes and the matter will rot in the court for months. The same situation can arise in the event of a divorce.

All property owners need to pay a property tax and they want assessment of the current market value of their property so that the right tax amount is paid. Insurance companies also go for commercial property valuation Perth or house valuation Perth because this helps them calculate the premium amount for insuring a property. The government also gets property assessment done when they need to take over a property for developmental purposes and pay the current market value to the owner of the property.

Who can do property assessments? There are some real estate dealers that have the experience to assess the approximate market value of a property but you require qualified consultants to do this job. There are quite a few professional property assessment consultants in Perth and you should ideally get in touch with them. They may use different approaches for property assessment – market approach, cost approach or income approach. These consultants hire qualified finance professionals that have the knowledge and experience to assess properties and this is why their assessments are perfect.

As you would have realized by now commercial property valuation Perth or house valuation Perth is not a part time job. It is a full time job that is done by trained and qualified property assessors. While you don’t need in depth knowledge about property assessment you should be aware of at least some basics. There are professional property assessors that can given pick up the phone as you call them and help you understand how and what this whole assessment is done. This will help you deal with the assessor better and have the right assessment done for the property in question.

Commercial property valuation Perth or house valuation Perth is requires for any transaction and has to be done by experts.