The underlying intent of the valuation process is to establish what a property might be expected to sell for if it was offered for sale at the date of valuation. Market valuations can be assessed on a vacant possession basis, or subject to actual or potential lease (or other) occupation agreements.
Valuations can reflect a property’s existing condition, or can be extended to determine the estimated value of a property upon completion of proposed improvements, such as redevelopments, additions or alterations. Seeking valuation advice before commencing works reduces risk, as the correlation between cost and added value can be determined before committing to any significant expense.
Market Valuations are undertaken for a broad range of purposes, including but not limited to; Mortgage Security / Lending, Financial / Asset Reporting, Acquisitions / Disposals, Portfolio Valuations, Matrimonial / Estate or Compensation Purposes.