Commercial Valuation Birmingham
This is a survey of a specific part or parts of a property which may have a particular defect.
Commercial Property Valuations Birmingham
For Birmingham commercial property valuations, Property Link provides a service that is second to none. With a strong and experienced team of professional Surveyors and structural engineers, Property Link provides an abundance of commercial property services, including the all-important, commercial valuations.
Located in Birmingham, we have valuation commercial property experience spanning the entirety of the west midlands area and even nationwide. In addition, all of our Surveyors and structural engineers are fully qualified and trained, with up to date knowledge of the industry, they provide a fast, reliable and invaluable service to anyone considering purchasing a commercial property.
What is a Valuation and what does a Commercial Valuation Report include?
The valuation process for a commercial property is not all that dissimilar to a valuation completed on a residential property in the sense that it is a visual inspection of the property, followed up with a report detailing the Surveyors findings. The main purpose of the commercial property valuation is to determine the market value of a property.
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RICS defines market values as: “The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.”
A detailed inspection and analysis of any defects is undertaken at the property, prior to our Birmingham based Surveyor completing a report to detail their findings. The report includes the following information:
- Construction and current condition of the affected part of the property.
- Probable cause of the particular defect or defects.
- A brief specification of the repair/ remedial works.
- An estimate of the cost of essential repairs.
The service is offered as a stand-alone report or as a follow up to a homebuyers or valuation report.
When would you need a Commercial Property Survey?
With plenty of valuation commercial property experience we appreciate how useful a valuation report is for potential buyers, as well as existing owner of commercial properties.
Though some might think a valuation is only required during the acquisition of a property, this is actually not the case. In actuality, valuations are required just as much for those who already own a commercial property.
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Whether you are buying a commercial property, selling or passing it on or simply need to complete your company accounts, the commercial property valuation services we provide are perfect for you.
For a no obligation quote, for more information about valuations and the process involved in having your property valuated, or to instruct us to complete a valuation, contact one our experienced and highly recommended Birmingham based team members now.
Some of the many reasons you might need to compete a valuation on your commercial property include:
- Reporting company accounts: when it comes to reporting the company assets, you will need to have an up-to-date estimate of the market value of your property. If you have modified or changes your property since your last valuation, or if there have been any other significant changes such as damages to the property, you might benefit from having a new valuation completed.
- Securing a loan: if you are securing a loan and intend to secure this loan against your property, then the loan company will most likely appoint a registered valuer to complete what is known as a secured lending valuation.
- End of lease: if you are a tenant rather than the owner of the property, you might find you need to have a valuation completed at the end of your lease term. This might be due to claims from your landlord of dilapidation, here a valuation will help to determine if the property value has decreased while you have leased the property and by how much. By law, claims for dilapidations cannot total more than how much the property value has reduced by, therefore capping the amount you might be charged by your landlord.
- Stamp duty and capital gains tax: if you transfer ownership of the property, stamp duty will need to be paid to inland revenue, which means you will need to know the market value of the property. Alternatively, if you sell your property you will need to send inland revenue a written valuation for them to be able to determine if you are due any Capital Tax Gains.