How much is my property worth? This is a question that we often hear in real estate world.
Many of JSK Real Estate clients are interested in our "valuation services". In this short article, we shall explain the different services of valuation of a property that we provide.
How can I estimate the value of property?
You may contact JSK Real Estate and request a valuation of your property.
What is a property valuation?
A property valuation is an assessment of your property's value - based on the location, condition and multiple other factors. The purpose of the valuation is to determine the fair selling or buying price of the property.
What type of reports do you provide me when I request a valuation of the property?
Our first question would be what type of report you are requesting and for what purpose. This would allow us to guide you into which report you are seeking. Generally speaking, there are 2 main reports requested:
1- valuation report by a sworn valuator expert accepted in Lebanese court
2- Valuation Report by JSK Real Estate
Is there a different price for each report?
Of course. The price of the report provided by sworn valuator is different from that of the JSK Real Estate valuation report.
Do you visit the property prior to sending valuation?
One of the many steps actually is to visit the property. valuating a property involve physical property visit, and many legal documents in order to assess the physical status of the property, its exact location and its legal details.
How often should I seek a valuation of my properties?
This depends on the purpose of your valuation. We cannot put a time frame of how long the valuation report will be valid for as the general economic conditions may differ. As an example, the value of the properties in Lebanon changed drastically prior to October 2019 vs. post October 2019. And since that date, the value of the properties have changed. In short, you need to redo a valuation report depending on the purpose of your valuation.
If you are seeking to sell or buy a property, you may need a very recent valuation report. If you are seeking the valuation report in order to accurately reflect the value of your properties in your books, you may be required to do so by law every year or more.
For more questions around valuation of your properties, do not hesitate to contact JSK Real Estate.
