Types of Property Valuations



Property valuers generally specialize in a sector of the property market or in a specific sub sector of the property market. There is also plant and equipment valuers but in this article I will focus on the larger market of valuers, property or real estate valuers or appraisers.

The different types of property reports that can be conducted are:

Commercial

Retail

Industrial

Mixed use

Rental review

Litigation

Property development feasibility studies, analysis and valuations

The most common valuation type is in the residential valuations field and the sub sectors are:

Acreage

Alpine

Apartment

Bed-sitter

Coastal property

Duplex

Executive property

Flat

Government

House

Land

Leased property

Luxury property

Property investing

Property investment portfolio evaluation

Retirement living

Rural

Semi-rural

Semi-detached

Serviced apartment

Studio

Student apartment

Terrace

Townhouse

Unit & unit block

Villa

More specialized valuations include the following (it is advisable to ask the valuation firm that you are considering if they have had previous experience before commissioning to perform a valuation):

Townhouse development

Villa development

Unit block

Single tenant office

Retail strip shop

Combined office retail

Owner occupied

Leased property

Multi-tenant

Mid rise office

Small shopping centre

Warehouse

Vacant land

Special use property

Golf course

Ski resort

Unique property

Hospitality-related property (hotels, resorts, inn valuations, motels, conference center valuations)

Regardless of property size, type, or construction material (from brick to steel to weatherboard homes), a property valuer can service all your property valuation needs as long as they are qualified to do so in that field.

I would suggest checking that the Valuer is registered with the local government or regulatory body of property Valuers / appraisers before asking for any work to be conducted.

It is also advisable to see if the valuation / appraisal reports are covered by a well known professional indemnity insurance provider such as Lloyds. Valuers insurance policies vary so see what the valuers professional indemnity (PI) advantages and disadvantages are as well as its limitations.

Another mindful check method is to contact your local or country governing property body or government organization to see if the individual appraiser or property expert is adequately qualified and whether they have current qualifications that is recognized by that body. This is always a good sign to separate the professional or registered valuers from those that are not.

May your property valuer search be a merry one.