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Valuations We can provide the following types of valuations: These types of valuations can be used for a number of different purposes. If a developer offers to buy a property, is the price suggested a reflection of the market value? If an owner wishes to sell part of land from his or her property, how much would this affect the market value? Market valuations are commonly required for matrimonial purposes. Comparable properties that have sold recently in the market are used as the basis of a valuation appraisal. Comparable properties that have sold recently in the market are used as the basis of a valuation appraisal. These are market valuations of a property owned by a person who has died. It is taken as the market valuation at the date of death. It is a legally required valuation, which does not necessarily lead to the property being sold in the open market. The probate valuation will need to be agreed with the Valuation Office, being the Government Department who monitor and record valuations, where used for tax purposes. All properties are required to have insurance cover. An insurance valuation is the estimated re-building costs, which represents a reinstatement cost for a building. It is usually based on an assessment of the gross floor area measured externally with allowances for complexities of construction. Also included within the calculation are; outbuildings having a solid construction such as sheds and garages, hardstandings, boundaries and drainage. We utilise the on-line BCIS re-building cost calculation tool. You are recommended to have insurance valuations re-assessed every five years and to have them index-linked. |
Established in 1979