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A years ago, we have had received a
numerous requests from would be clients who asked for our professional
services in determining the value of their properties for use in
different types of requirements. Some of our friends in the industry or
most of the time our clients are asking for hypothetical estimate or
Broker’s Price Opinion (BPO) which is cheap and fast but not that as
accurate and precise as with a formal appraisal report determined by a
seasoned real estate appraiser.
Real estate appraisal have very useful
functions especially in determining the Fair Market Value (FMV) of a
property for the purposes of tax payments required in Bureau of Internal
Revenue, personal records of a client in the process of selling or
lending confirmed offered price of real property, offering subject
property for sale, settlement of disputes involving real estate
properties and documentary requirements for support visa application /
immigration and many more.
In determining the value of property, a
real estate appraiser uses approved, standardized methods available in
the Philippine setting like the Philippine Valuation Standards published
by the Bureau of Local Government Finance / Department of Finance or
International Valuation standards from United Kingdom or Uniform Standards of Professional Appraisal Practice
(USPAP) from the United States of America. The appraisal process
involves the determination of market value of a property, market price
of a property. The appraiser will also use one of the three approaches
or a combination of two techniques in determining the market value or
market price of a subject property. It can be a Sales approach, Income
Approach, Cost approach.
Other than valuation, the role of a real
estate appraiser can act as expert witness if summoned in the court of
law in the appraisal undertaking involved in court cases and litigation
including expropriation of property by the local / national government.
They can also act as an independent appraiser hired by the defendant /
property owner during court litigation.
Without real estate appraisal it can very
tricky for sellers and buyers to agree upon the possible sale of a
property in order to over-exuberance or under valuation of a subject
property. Evidently it must be factual, accurate and precise valuation
with a written appraisal report is a requirement and a necessity before
settling upon the price offer or sale.
With the help of a qualified and licensed
real estate appraiser this can be done. Their expertise can help you a
lot in your specific needs or requirements as such it may arise. For
inquiries, you may visit our website at www.cfbaluyutrealty.com or call us at telephone number (045) 961-5936.
Copyright 2004 - 2020 C. F. Baluyut Realty | Real Estate in Pampanga, Philippines. All Rights Reserved.
