So many people still don’t understand the importance of property valuation, and many people handle the issue of property valuation with levity. In this article, I will share the essentials of property valuation and why you should engage the services of qualified Estate Surveyors and Valuers to provide you with a globally acceptable Valuation Report for your property.
Property valuation generally is the art of estimating or determining the worth of a property or assets. Property in this context includes land, buildings, and other structures in a property such as fences, wells, drainage, revoir etc which form part of one’s property especially when they are permanently fixed to a location. Assets on the other hand are anything that is of value to the owner such as buildings, machines, and equipment among others, as long as the item can be sold to generate money for the owner, it is an asset.
You may be required to ascertain the worth of your property or assets for the following reasons;
- To secure a loan from a commercial bank
- To sell your property
- To have an idea of your property’s worth
- To travel abroad
- For merger purposes
- Rent or lease
- For compensation purpose
- To tender in court during litigation
- To determine worthy during the divorce of a spouse
- For general investment purposes
- To prepare your will
- And so on…
Estate Surveyors and Valuers are the only professionals qualified by the law to conduct property valuation practice, having undergone rigorous training and certification to value properties accurately, professionally and honestly without jeopardizing their professional obligations and oath. Hence the need to always use their services.
Consulting an Estate Surveyor and Valuer puts one in a vantage position as the value arrived at would always represent the true value of the subject property and be defendable in any competent court of law if needed.
You will do yourself the highest good when you shun charlatans and engage certified Estate Surveyors and Valuers.
How to Identify Estate Surveyors and Valuers
To ascertain any valuer’s status or membership cadre, confirm that they are registered with the following acronyms annexed to their names; RSV, ANIVS, FNIVS, PNIVS, ESV or HNIVS.
You can ask for their seal number which usually starts with the letter “A”- xx
Check NIESV’s annual publication of financially up-to-date members on any national dailies
Check the NIESV website, portal and Directory to confirm their membership status
Do not fall for the cheap gimmicks of quacks, patronize the real valuers today.
Do you require the services of a qualified Valuer? Contact me today!