What is a property valuation?

Benefiting the buyer and seller, a property valuation can help you to assess the current value of a property in an open and competitive real estate market.

A property valuation is generally conducted on a request by you, or a lending institution (such as a bank) who is is looking to fund the purchase of a property. Normally produced as a report, a property valuation includes property information – rates, size of the land and building, physical details on the construction and condition of the dwelling, details on any immediate issues that may need addressing – as well as information on comparative sales in the area. 

When would I need to get a property valuation?

The most common time you will hear people discussing house valuations are when lending institutions are financing a certain property – it is an essential part of the home loan application process. If you are obtaining a mortgage or refinancing, a bank requires a valuation to ensure the security value of a property covers the loan. If anything happens and the mortgage is unpaid, the bank needs to be confident that it can recover any outstanding amount owing on the property if it had to re-sell it. The lending institutions usually use their own nominated panel or preferred licensed property valuers. The other times when you may need or want a valuation is if you are selling a house, or before you make an offer

How do valuers come up with a figure?

For a valuer to do their job, they generally need to visit the property, measure it and note details on the building structure and its condition, any structural faults, rooms and layout and their presentation and fitouts, fixtures and fittings, and any improvements. They also make notes on the property's vehicle access and any garages, carports or out buildings. Often the valuation will include photos of the property highlighting certain features. Once they have visited the property, they also look at planning restrictions and council zoning and its relative location. The valuer then compares all these attributes to recent comparable sales in the surrounding area before coming up with the magic figure



Our Complete Projects:

Residential unit at Karen, 3Bedroom ensuite.

Residential unit at Karen, 3Bedroom ensuite.

Residential unit at Karen, 3Bedroom ensuite.
Key Success
  • Vision
  • Mission
  • Values
Our Core Values
  • We strive for Excellence
  • Exceeding client expectation
  • Empowering our employees
  • Ensuring Safety
Why Gaas Petroleum
  • Qualified Marketing & Sales team
  • Supply chain management
  • Quality
  • Safety and environment
JUBA – SOUTH SUDAN Dealers in: Petroleum Products and general merchandise
P.O. Box 1349-00502, Nairobi | Tel: 0703 621 522, 0706 224426
Email: info@migco.co.ke | Website:migco.co.ke

All rights reserved. @Gaas Petroleum Limited