There are many forms of service being utilized when it comes to property valuation which depends on the purposes as well as the necessity of use. At Propspec Appraisal, we have divided the property valuation services into 3 forms which are: 1. Full Scope Valuation, 2. Initial Valuation for those who would like to know the price of the property to be used in transactions or internal analysis. 3. Valuation Clinic, for those who wish to know the appraised value which the clients are required to send us all the relevant information so that we can proceed with the price analysis which all these 3 forms have different methods. For more information, please refer to the below.
1.Full Scope Valuation
This is a type of property valuation service that is usually utilized which is basically for those clients who need a valuation report as references when it comes to transactions with other parties. Valuers will conduct the condition inspection of the property by surveying and exploring the property location, land & buildings location inspection, and an original Document of Right at the land office inspection, depending on the agreement. By doing this, the valuation report will contain a sufficient resolution for conducting transactions with other parties. For your information, the service fee will be a full-scope according to the standard of service.
This type of property valuation service is suitable for those who do not require the full-scope valuation report since the purpose of property valuation is not for conducting the transaction with other parties but instead, to be utilized within the private enterprise of the employer only, desire to know the information with regard to the property as a preparation to be applied for transactions or to be analyzed for the conclusion of some aspects internally. However, a serious property valuation is recommended to be a full valuation report in which the price will be quite high. Therefore, this type of property valuation is satisfying our customers since it will be cheaper and faster for example desire to know the price in order to set your selling price, applying for a loan, the study of fundraising, feasibility study and etc by using the principle of preliminary valuation which is basically conducting the valuation in the office where the valuers will not have to go out for a property location survey, not certifying the condition of the property’s location, as well as not certifying the document of right. For your information, all this information will be provided and certified by the customers. As for the appraised value as a result, whether there will be any deviation or not, depending on the reporting of property information from the clients for example when there is a discrepancy especially the building area (sqm). However, when it comes to the time that you require a full valuation report, valuers will need to measure the building size at the property’s location in order to ensure and recalculate the appraised value once again.
Procedures for requesting an initial appraisal price
- Clients must prepare must send the information to the
- valuers for consideration such as details of title deeds, location of land, deed no., land area, list of buildings and improvements within the land, number of buildings, building size/area, utilization type and etc.
Valuers inform the result together with the market information in that area whether the ‘initial valuation’ can be applied in this case or not, the scope of service, and let the customer proceed with the payment.
- Clients must fill out the form together with sending the documents which are a copy of title deed, photos of internal and external of the property, and other documents, if any or as requested by the valuers.
- Valuers may request an interview with regard to the additional information of property from the clients in case there is any question.
- Valuers summarize the property appraisal price as a company certificate and send it to the customer to be used in their business internally in the beginning.
- If the clients have used and analyzed the initial report and would like to bring it to apply for a transaction externally with other parties, please let us know so that we will issue a full valuation report. However, valuers will need to survey and inspect the property and if there is any difference compared to the previous information that is received from the customer, the price will need to be adjusted according to the survey.
In some cases when the clients would like any advice concerning the property appraisal price in-depth regarding the complex property, it is very important to always have the information that you can trust and rely on in order to know the assumptions of the appraisal process that have the same understanding. Prospec Appraisal is always ready to provide you with advice in the form of a valuation clinic at the level of key valuers who are an expert on each type of property that you can trust.
Applying for Valuation Clinic
For those who wish to know the appraisal price, please make an appointment at the head office, any other branches located closest to you, or even a ‘Virtual Cloud’ meeting room system that facilitates anytime and anywhere.
For the more accurate result when it comes to analyzing the property appraisal price. Clients are required to prepare all the information related to the building and :
- Photos of interior-exterior buildings
- Building area/size in square meters. If you have any floor plan, please take a picture and attach them as well. However, if the property is vacant land, a copy of the title deed will be sufficient enough.
- In case the property requires an income valuation, please also prepare the operating result.
Valuation Clinic Service Fee
The starting service fee is at THB 1,000 for small residential property of 1 housing. A larger property or undeveloped land will be informed from time to time.