Why Is Property Valuation Melbourne An Important Element Of Real Estate Business.

Put in plain and simple words Melbourne Property Valuers is nothing but calculating the fair market value of the property. Many of us might ask the question why such a report is required in the first place when there is a clear indication of the fair value by the market itself. The answer to this is quite simple. While the market value is just indicative in nature, it does not have any legal sanction behind it and there are no efforts to dig deep and find out the value of the property concerned. This is exactly the role of property valuers.

They use many tools and techniques to find out more about the fair market value of the property and nine out of ten times their estimates are near accurate. This is the main reason why even banks, financial institutions, government departments and others consider valuation reports from quality professionals much more than a piece of document. In fact many government departments use these valuation reports as the basic premise for calculating various payable. This is especially true in case of compensation valuation.

Property Valuation Melbourne

Compensation valuations become payable to persons whose properties are taken over by government departments for constructing various socially relevant projects.Hence when it comes to deciding the amount of compensation, more often than not these valuation reports are taken as the benchmark. Banks and financial institutions almost totally depend on Property Valuation Melbourne reports for determining the amount of loan that a customer is eligible for mortgaging his property. Hence whenever a customer applies for a bank loan the first thing banks do is to raise a Property Valuation Melbourne report.

Though there could be some quarters who might talk about property valuation reports being doctored by banks, this is more of a figment of imagination than anything else. This is because valuers are professionals and they would never like to jeopardize their reputation and careers by doctoring valuation reports for a few dollars.It would also be pertinent to mention here that apart from the quantitative and figurative elements of information in a valuation report, there are also quite a few qualitative reports that are very useful to the buyers in particular.

For example the mention about infrastructure development, the availability or absence of various amenities and facilities are a few things that could be of immense help to buyers and also other stakeholders. Therefore it would be safe to conclude that there are quite a few important pieces of information in good property valuers’ report.