With the recent COVID 19 pandemic, people are more having a tighter grip on their funds and some have opted to forego their plans for acquisition of properties or other investments. The future seems to be a bit dim right now but there is a glimmer of hope over the horizon on the course of vaccination discovery in the time of this writing and full production in the coming months by 2021.
We recently received a call from Mr. C who happens to own a vacant residential lot somewhere in the town of Floridablanca, Pampanga. He was referred to us by a colleague and fellow real estate broker by Ms. DD. He was requesting if we can make an appointment with them on the property and possibly discuss the hiring the services of a professional real estate appraiser. However, in our recent discussions with Mr. C as he was hesitant in getting his property appraised because it is an added cost and burden in his part as we have told him that appraisal report may be a cost a bit for the owners but the benefits of the market valuation report could benefit him more and give him another perspective if he decides to stay or build his house on the subject property or just sell it off as it is if he intends to?
However, some clients cannot understand the jargon on the real estate market valuation of their property knowing only the certificate of valuation is the only thing that they want to view. But to delve and understand how we arrive on our estimations we clearly explain and show them on how did this happen not only in our conclusions but also in our face to face or virtual conferencing settings for them to get the gist of this discussion.
Valuation Reports have no predetermined value in mind as we have used different methods, processes and techniques in determining it. Based on our experience, it requires 7 calendar days for a vacant residential to complete such work or task and also we do research on other factors that can determine or affect the value of property which we have listed below:
§ Location of the property, accessibility, and neighborhood quality;
§ Size, shape, elevation, street frontage;
§ Highest and best-legal use of the land;
§ The asking prices of comparable properties in the adjoining
§ Personal judgment, observation, experience of the appraiser;
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