A Question of Value


As we move into the shorter daylight hours of the winter months, the window for showing property shrinks considerably. The same is true when I am asked to do a property valuation and this side of the business is very busy at this time of the year. People get property valuations for many different reasons. Sometimes a valuation is undertaken to assist in the administration of the estate of someone who had died. Valuations are also undertaken when people voluntarily transfer property between themselves. For example, parents might transfer a site to one of their children or may decide to pass on the family business or farm. Valuations are undertaken when someone applies for a mortgage with a Bank and also when someone is applying for assistance under the terms of the Nursing Home Fair Deal Scheme. There are many other reasons why individuals and corporate entities get valuations done.

If you are getting a valuation done make sure that your Valuer is qualified and registered under the auspices of the Royal Institute of Chartered Surveyors and/or the Society of Chartered Surveyors Ireland. You must disclose the precise purpose of the valuation. This will determine the cost and the valuer’s approach.

Except in very rare and mentioned circumstances the valuer must physically inspect the property and the client should not at any time exert undue influence on the Valuer to deliver a particular figure. Finally, the valuer should not do the valuation if they have a conflict of interest.

If you would like to discuss any valuation requirements you may have please contact me. Remember we all have an idea of the value of our property but it is always better to get an arm’s length view from someone who is qualified and can stand over the figure they present.