When it comes to strategic decision-making involving real estate, an accurate and reliable RICS-compliant residential property valuation is extremely important.
A residential real estate valuation is a professional assessment of a property's market value conducted by expert RICS property valuers. This process considers various factors, such as the property's location, size, age, condition, local market trends and comparable property sales. This appraisal results in a comprehensive residential property valuation report, which provides an accurate and unbiased estimate of the property's value.
Obtaining a residential property appraisal is essential for a variety of reasons. Firstly, it helps buyers and sellers establish a fair market price for the property, ensuring that both parties can negotiate and agree on a reasonable figure. A house appraisal can be especially vital when determining the price of standalone houses.Secondly, a residential property valuation is often required by lenders for mortgage valuation purposes, as it helps them determine the amount they are willing to lend against the property. Additionally, a residential property valuation report can be beneficial for tax and insurance purposes, as well as for settling disputes and providing expert advice during property-related legal proceedings.
A residential property valuation, or in some cases referred to as a home appraisal, is needed in several situations, including buying or selling a property, securing a mortgage or refinancing, assessing property taxes, establishing insurance coverage, resolving property disputes, and managing property portfolios.
At ValuStrat, our team of residential property valuers is well-versed in the intricacies of the residential real estate market and is committed to delivering as per your specific needs. Being an RICS-regulated firm, all our valuation reports are developed as per global Red Book Global Standards. However, we also prepare appraisal reports as per regional requirements such as TAQEEM, ensuring compliance with the highest industry and banking sector standards, leading to over 120 financial institutions across the GCC and UK relying on our real estate valuation reports.
At ValuStrat, our team of RICS valuers is well-equipped to handle a wide range of residential property types, including:
- Converted properties
- Residential buildings
- Off-plan / Under-construction properties
- Residential compounds
- Residential land
- Retirement properties
A comprehensive RICS valuation report provided by our residential property valuers includes a detailed description of the property, an assessment of the property's condition, a review of relevant planning permissions and building regulations, an analysis of local market trends and comparable sales, a final valuation figure based on the property's current market value.