As a homeowner its always important for you to know how much your property is worth. You need to have an idea of what the current market price of your property is and how the value is fluctuating with the changing trends. This information will always come in handy when you are considering selling your property because your mind is set on selling it for the best possible price. When you have set this thought in motion, one of the first things you have to do is get your property valuated by valuers in Colombo. As property valuation is one of the best ways in which you can find out exactly how much your property is worth.

Evaluating your property gives you the opportunity to know what kind of equity you have in the property and you will not overcapitalize on a prospective property that you are considering purchasing. If you want a fair price for your land, home, or factory, a property valuation is what you need. Valuating your property does not come in handy only when you consider buying or selling, but also for the purpose of tax, mortgage, and property transfer.

What does the process of property valuation involve?
This process is set in motion when the property owner or bank puts forward a formal request to have a property valuated. Property valuations are usually done by an independent third party, such as real estate consultants or property valuers in Colombo. The USLS valuers will visit the property and inspect it from all angles, taking various measurements and photographs of it, taking into account the age of the property, its current state of repair, the design and layout, the zone in which the property is located, ease of access to the property, and any other unique factors which may have an effect on the value of the property.

Once the real estate consultancy has carried out the valuation, the results of the valuation will be produced as a report. This report will include details of the building, land, its condition of it, any issues that may need to be corrected and dealt with immediately, to increase the value of the property, and also some data comparing the sales of other properties in the area.

What does the process of property valuation involve?

It gives you a clear understanding of what your property is worth, making sure that you don’t settle for something that undermines it, and takes away from the value of the property. It makes sure that you benefit from the sale of a property, as is your right. In the case of a bank or financial institution, a property valuation is beneficial to them as it gives them the necessary information to determine if a said property would be a worthwhile investment.

By enlisting the services of a well-reputed real estate consultancy, you can rest assured that you will get a detailed report regarding the valuation and that they will be doing a thorough job of it. This is because they will make sure that information from the surveyor general, the deeds office, and the price trends of the current market are all taken into account when considering the final report on the value of the property.

So, make sure that you choose a company that is well known for its valuation services so that you know exactly how much your property is worth, reaping the benefits of it.