How can a property owner challenge a valuer’s valuation of your property?

Is it right to hire a property valuer first and then challenge the valuer for his work i.e property valuation?

The very first thing is, for hiring a valuer you are giving the fees or you are paying the cost to hire the property valuer and if with the property valuation you are not satisfied then you can put a list of questions or a challenge a valuer. Undoubtedly, just to clear the doubts you have.

No matter who will be proved as right or wrong. Always remember the profit will be yours only. Then why to give a second thought before putting question on property valuer’s task, When you know there is something wrong in valuation.

As the property value assessments are related to the financial decisions of the real estate world. The wrong valuation may lead to put hands in a wrong deal which ultimately leads to financial losses. So the right valuation of the property is must.

For this hire an expert valuer having experience and knowledge of the market is essential. Otherwise, non-professional valuer will definitely gives you the inaccurate valuation results. The important challenge for property valuers is to develop a great understanding of the market and good analytical skills, with an aim to determine the appropriate property value.

After hiring an expert, knowledgeable and experienced valuer for your property valuation your task will not going to end. Overall it’s your property and the profit or loss you will make will be yours only. So it’s advisable to check the property valuation process adapted by your property valuer. Eventually which helps you to have a right property valuation of your real estate property.

People want to ask –

Can we challenge the property valuation by property valuer?
Yes, you can challenge. If you think your property possess more value than it is estimated by the valuer or any other appropriate reason along with pieces of evidence in that case you can challenge the property valuation.

How can we challenge a valuer’s valuation?
You can do this only when you have market knowledge, knowledge of comparable properties value (which are nearby your property and sold out in last six months), when you know the analytical methods to measure the property value, then you can challenge the property valuation of the valuer.

Ask the valuers to give you the proper valuation reports, so you can make the valid challenge to the valuer to correct the valuation of your property.
Check the analytical calculations of the valuer, there is a big chance to get an error in this section.

Make sure assessor has visited the whole property and added all the valuable items rightly.

No room, no place (of the property) shouldn’t be left untouched by the property valuer while inspecting the property. Also check the list in the report that he has added the all rooms, bathrooms accurately or not.

Having the right valuation of your property after hiring the property valuer is your right. You can and must challenge the valuer if the valuation is not satisfying you. Hire the best property valuer to know the right value of your property.