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Valuers (or appraisers as referred to in certain countries around the world) form an important part of the general economy, not just the property industry. 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.
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