Why we should obtain a property valuation before sell a property?
For sellers, valuations are used for multiple reasons. One, to get an idea of the potential selling price of their property, and two, to gain an understanding of whether or not they can make any improvements to the value of their properties. They can also be a good indicator of whether or not they should sell now or hold off until the market picks up in the future.
If you’re thinking about selling, a good real estate agent will know what buyers in your area are looking for in a property and will know what trends are selling. So, getting a property valuer in to do an appraisal can be a huge benefit if you’re looking for tips on value adding renovations or features to your property.
Who is a Professionally Qualified valuer to practise in Sri Lanka?
A formal property valuation can only be undertaken by a qualified valuer who has a membership of Royal Institution of Chartered Surveyors (RICS) as a valuation surveyor and member of Institute of Valuers of Sri Lanka (IVSL). They have a systematic approach and take in all factors that can possibly affect the value, providing a comprehensive, unbiased report on the property’s value.
A property valuation is generally completed within 2-3 business days and you have to pay professional fees.