property valuation

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property valuation
Link https//parkisolution.blogspot.com/2023/01/
property-valuation.html
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Link https//parkisolution.blogspot.com/2023/01/
property-valuation.html
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Business peoples view a commercial property
valuation services as an unnecessary expense. In
fact, there are many reasons why business of all
sizes in all industries, may need to have their
commercial properties valued. While those who are
new to commercial real estate ownership might
prefer to avoid the expense, it can prove to be
much more expensive if the value of the property
is underestimated. All business need funding and
for many funding is secured against the premises
the business owns. When this is the case for any
given business its mandatory that the business
has an accurate valuation because its required
by the bank When you attempt to obtain a bank
loan using your business premises as security,
your bank will have their own valuation performed
using an RICS registered value. However, its
also important that youre aware of the value of
your premises before attempting to obtain a loan,
to show that youve done the necessary research
and youre knowledgeable about your own business.
Its definitely not ideal to show up to a meeting
with a bank manager with no clear idea how much
the property is worth or have unrealistic
expectations about how much the business can
borrow, as it will only delay the process of
getting the loan. Link https//parkisolution.blo
gspot.com/2023/01/property-valuation.html
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One of the most important reasons to have
commercial property valued is simply that its
good business practice to have an up-to-date and
accurate record of all the organizations
assets. For instance, any time someone buys into
the business, or ownership of assets are
transferred, it may be necessary to have an
up-to-date valuation of the assets owned,
including business premises and land. Its also
possible that other organizations you do business
with may require you have that information
available, so it makes sense to have your
companys land and buildings valued periodically.
When that information isnt easily to hand it can
cause negotiation delays or prevent two companies
from reaching an agreement altogether. Simply
put, its a vital piece of information that isnt
needed every day, but which can lead to
frustration and lost earnings if its not readily
to hand when it is needed. If your business owns
the premises on which it operates, then a current
valuation is required if the premises are sold.
This is because Inland Revenue requires a formal
valuation for calculating whether Capital Gains
tax is due. Alternatively, if partial or full
ownership of the business premises is being
transferred rather than sold, then Stamp Duty
must be paid. Again, Inland Revenue requires a
formal evaluation of the property in order to
calculate the amount that is due. Link
https//parkisolution.blogspot.com/2023/01/propert
y-valuation.html
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The importance of commercial property valuation
services is easy to see when the business owns
the property, but what if your company is leasing
its premises? Its not quite so clear-cut when
your business leases commercial property, but
there are still instances where it can be prudent
to have a current valuation. For instance, if
your business is coming to the end of a lease and
you are not planning to renew the contract,
having an independent valuation can prove to be
useful. This is the case if your lease includes
coverage for repair liabilities, and if the
landlord wants to make a claim for dilapidations.
In this instance, the amount of dilapidations
that can be claimed is limited to the reduction
in property value. For example, if the value of
the property has reduced by 8,000, then that
amount is the most that can be claimed in
dilapidations. Link https//parkisolution.blogs
pot.com/2023/01/property-valuation.html
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