Property valuation is the process of estimating the value of a property. It is used to determine the selling price of a property, the amount of tax that needs to be paid on a property, and the mortgage that can be taken out against a property.
The value of a property is determined by a number of factors, including the location of the property, the size of the property, the age of the property, the condition of the property, and the amenities that are available in the vicinity of the property.
Property valuation is an important process for a number of reasons. First, it helps to ensure that a property is sold for a fair price.
Second, it helps to ensure that the correct amount of tax is paid on a property. Third, it helps to ensure that the real estate mortgage that is taken out on a property is not too large.
Property valuation is a complex process, and there are a number of different methods that can be used to value a property.
A professional property valuer will be able to advise you on the best method to use in order to value your property.