Land Registration

Since 2010, the law requires that if ownership of a property is being transferred, it must be registered with the Land Registry in digital form.

Land Transfers are Legal Maps.

Declarations of Identity accompanies every house prior to transfer of ownership and accompany field boundaries which must be compliant with recorded boundaries.

Stage Payment Certificates are required by financial institutes.

Valuations

A valuation is necessary when buying or selling a property, for change of ownership, for probate or for the Fair Deal Application Form. It evaluates the worth of the property.

How a Valuation differs from a Surveyor’s Report.

A Surveyor’s Report highlights defects and makes recommendations for remedial work.

A Valuation focuses on the actual current market value of a property or premises.

A Valuation is usually required by a Bank or a Financial Institute, prior to negotiating a possible mortgage with a client.

While the Assessor will naturally notice the condition of a property, he or she is not concerned with aspects which need remedial work or replacement.

He or she is only interested in current value or possible development value of the property.

Some of the Factors which influence the value of a property

  1. The rezoned of long-term residential locations for commercial activity.

  2. Location.

  3. Amenities-shops, schools, recreation facilities.

  4. The size of the house—no. of bedrooms etc.

  5. Garden-size and condition.

  6. Added features—decks, renovations, extensions.

The Assessor will assess the price of other similar properties in the locality and will compare to that of the broader market.

 

 

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