There are a variety of circumstances where you may have to hire a property valuation company to help you determine what a piece of land may be worth. These real estate professionals are trained to value property based on a number of factors, and their appraisals can help you decide what kind of bid to tender on available land. So to help you understand what property valuers can offer you, here are some of the services they provide.
Family Law Legal Valuations -- Property valuers are trained to provide valuations for real estate properties that are the subject of a divorce settlement. These types of valuations are critical in terms of establishing what a property is worth, because a judge will use these figures to determine what is an equitable distribution of assets. It may also be valuable in divorce cases in which property has to be sold and the proceeds divided equally.
Mortgage Valuations -- A property valuation company is also valuable when it comes to determining the correct price at which a bank or other financial institution will guarantee a mortgage. This valuation isn't just intended to provide a figure—it will also include any structural or cosmetic issues that could potentially reduce the property's value if it's used as security for the mortgage loan. In other words, a property valuer can provide a mortgage company with information that the property in question could decrease in value in a few years, which can be an important consideration when a mortgage company is considering financing a loan.
Audit Valuations -- Property valuers also prepare valuations and appraisals for businesses that are undergoing an audit review. Audits may be conducted for a number of different reasons, and by a number of different agencies, such as the Australian National Audit Office, the Australian Securities Office or the Australian Tax Office. Audits require a thorough examination of a company's assets, and many companies own property that must be evaluated to determine if the figures are accurate.
In previous years, big companies had their own in-house valuation departments, but the obvious conflict of interest involved in performing valuations for external audits made it impractical for them to continue this practice, and today, businesses hire independent valuers when undergoing an audit.
Whether you are entering the field of land and property development, you are buying or selling a house or you are involved in a legal matter, you can get more information by contacting a company like McGrath Real Estate Group.