The Need For A Certified Property Valuer


Property valuation is considered to be one of the important aspects of any property buying and selling. However, it is a complicated subject and out the bounds of possibilities of ordinary customers. Hence it is not quite surprising when we see most of the customers taking help of professionals valuers to ensure that the entire process of property ownership transfer takesplace easily. But it is very important that as customers we choose the right valuer who has all the right attributes. These include experience, expertise, qualifications and most importantly certification. Certification is mandatory as far as real estate valuers are concerned. Therefore as customers we should take the trouble of finding out whether a valuer is competent to undertake valuation in the first place.

The reason why it is considered very important to choose a certified property valuer is because of many reasons. First and foremost one has to bear in mind that a valuation report has many legal ramifications to it and therefore must be handled only by those who have the right experience and expertise. This does not come with default and a valuer has to go through various processes involved in certification only after which he or she is considered fit enough for the job. A certified valuer is the one who is accepted as the legal entity as far as banks, financial institutions, big real estate promoters and customers are concerned.

Getting a property valued by a valuer who is not certified will be not correct legally and there is a grave risk of the entire property deal falling through. Hence, even it takes some time it is always better to look for property valuers who have the required certification. Apart from the legal requirements that make it mandatory to deal only with certified valuers, the job of valuation is done very professionally as far as these professionals are concerned.

The entire process of certifying a property valuer is quite lengthy and begins with an application from the valuer. Once the application is received the process of certification starts. It is done by a group of qualified and certified valuers and other professionals. The process involves many steps and it all begins with a thoroughly look at the various facilities and amenities that are available for smooth valuation. Once this is done the valuation certificate is issued after ensuring that all processes and steps are in place. The certification is valid for a certain period after which it is renewed again.

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Why Opting For A Certified Property Valuer Is A Must

There are many reasons why property valuation is considered as an important step towards smooth transfer of ownership from the seller to the buyer. Whenever a property is bought or sold there is no doubt that it involves thousands of dollars and sometimes the stakes involved good be quite a few millions dollars too. Hence, all the stakeholders would like to be very carefully and treat with great care and caution. They would like to check things more than once before committing themselves to it. The two main stakeholders when a property is bought or sold are without any doubt the seller and the buyer.

While the main objective of the buyer is to ensure that he buys a good property at a great price, the seller also has the same mind set. He would like to make a handsome profit out of such sale and ensure that he gets more than anticipated return on his investments. Hence, there is a very strong commercial and economic objective that is making both the parties to enter into this transaction. While there is no doubt that the market is a reasonably good indicator about the value of a property there is no legal sanction attached to it. Hence, there must be a professional valuer or appraiser who can establish a legal stamp on such valuations. That is what the main role is of property valuers.

However, it is also very important that the property valuers also should be competent to undertake such valuation. It is expected that apart from being experienced and qualified they should have a certificate from the relevant government authorities. This certification is mandatory and is akin to a patient getting treated by a doctor who has the required qualification, experience and permission under the law.

Certifications for property valuers are issued by the local government authorities after taking into account various factors. They look into their credentials, qualifications and the procedures and processes that they have in place for valuation of properties received from customers. They evaluate the efficiency levels, the mechanisms that are in place, the time taken, the integrity and transparent levels and other such important factors. Only when they are fully satisfied do they offer them certification. This certification is valid for a limited period after which it has to be validated again by allowing inspection of the processes by the concerned authorities. Hence, certifying a property valuer is not only important but mandatory.

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