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 does a Valuation differ from a Pre-Survey/Engineer’s Report?
A Pre-Survey/Engineer’s Reports highlights defects and makes recommendations for remedial work whereas 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 during a valuation, 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
- The rezoned of long-term residential locations for commercial activity
- Amenities-shops, schools, recreation facilities
- The size of the house – number of bedrooms etc.
- Garden-size and condition
- Added features eg. decking, renovations, extensions
The Assessor will assess the price of other similar properties in the locality and will compare to that of the broader market.
“I engaged O’Mahony Engineers and Surveyors to do a valuation on my home. Mr. O’Mahony’s approach was professional and I really appreciated his punctuality.“
“In a friendly, relaxed yet efficient manner, O’Mahony Engineers and Surveyors completed a valuation for us. We were delighted that this could be done to suit our working schedules. Our thanks to O’ Mahony Surveyors.”