An Estate Agent will give a price they anticipate a buyer would pay for your property given current market conditions. This is not an exact science and therefore established local agents who know the market – are worth their weight in gold.
A valuation uses evidence of transactions completed in the market place and these must be comparable to the subject property and recent.
A valuation is inherently a complex business. There are 5 official methods alone and RICS’ Red Book sets out the standards as to how the valuation must be performed.
A valuation can be used for Inheritance tax purposes, a Company’s accounts as an asset valuation and for bank lending purposes for mortgages and/or development loans.
Goadsby offer both services and hopefully this article helps distinguish between the two services.
Things to consider when you are looking for your first commercial property.
Things to consider when letting your commercial property, if this is not for you then our property management department would be delighted to help.
What to consider when looking for a commercial property investment. Location - Do you want to be able to keep an eye on the building or will you appoint a Managing Agent?