Property valuation - PowerPoint PPT Presentation
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Property valuation
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Title: Property valuation
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PROPERTY VALUATION
- BY
- WEST KENYA REAL ESTATE LTD
- _at_2015-2020
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WHAT IS PROPERTY VALUATION?
- A property valuation is a detailed report of a
propertys market value. - This is defined by the International Valuation
Standards Council as the estimated sale price
between a willing buyer and a willing seller in
an arms length transaction, after proper
marketing and where the parties had each acted
knowledgeably, prudently and without compulsion.
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WHO NEEDS PROPERTY VALUATION?
- (1) Buyers
- To know the market value of the property to avoid
overpaying - (2) Sellers
- To avoid settling for less than the market value
of the property - (3) Lending institutions
- To ensure that the property given as security has
enough value to cover the loan facility being
advanced - (4) Tax authority
- To determine the tax liability related to a
property.
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PURPOSES OF DOING PROPERTY VALUATION
- (1) Collateral
- When a property is to be used as collateral to
secure loan - (2) Mortgage
- When a mortgage is to be extend for property
acquisition - (3) Disposal/Sale
- To establish the market value of a property
- (4) Insurance
- To establish the actual market value for
insurance principal value and premium
determinations
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- (5) Book/Audit/Balance Sheet
- To establish the value to reflect in the books of
account as the value of a property - (6) Taxation
- To help in establishing the tax obligation
relating to a property - (7) Stamp duty
- To establish the value for purpose of calculating
stamp duty when ownership is moving to another
person
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FACTORS AFFECTING PROPERTY VALUATION
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- (1) Location
- A property located in a remote place will attract
lesser value as compared to a similar one in a
developed place like market centres or towns. - (2) Size
- The smaller the property the smaller the value
and the larger the property, the bigger the
valuer. - (3) Age of the property
- A new property will fetch more value as compared
to an older property. The age helps to determine
the remaining useful years of the property.
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- (4) Condition
- The condition like new, old, damaged, repaired or
not, well maintained or poorly maintained. All
these affect the value. - (5) Demand supply
- The higher demand the higher the value and vice
versa. The less available the property is, the
higher the value and vice versa. - (6) Economic outlook
- During economic recession or hard time, the
property value will come down as compared to when
the economic is booming and there is money in
circulation. - (7) Income
- The more income the property is generating, the
higher the value of the property.
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INTERESTED IN PROPERTY VALUATION?
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- CONTACT US TODAY
- West Kenya Real Estate Ltd
- Kondele Kibos Road, Kodiero Business Centre,
- 1st Floor, Room 1
- P.o, Box 2518-40100 KISUMU
- Tel 254724481087/254789217685
- info_at_westkenyarealestate.com
- Whatsup254724481087/254789217685
- Website https//westkenyarealestate.com
