There are many things that affect the value of a property right from the property type to the building size, land that it occupies, condition, BER, potential to extend, levels of available stock in that stratus to the orientation of the sun, garden and parking.
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Casey Kennedy Estate Agents are a qualified European Blue Book valuer.
Estate agent’s fees in Ireland can be as high as 2%. Our fees are an exceptional value at just 1% of the final sale value of your home. You could save thousands compared to other agents! Take a look at the table below to see just how much money you could keep in your pocket.
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TEGoVA is The European Group of Valuers Associations. The TRV status is the mark of excellence in residential property valuation, demonstrating to international and local clients that the residential valuer is qualified to a consistent high European standard of practice.
CKP are qualified and certified experts with special knowledge & experience giving us a competitive edge to perform valuations.
As TEGoVA Residential Valuers we provide Blue Book valuations for purposes such as:
The job of a valuer is to carry out a professional and impartial valuation for the client, without outside influence. The valuer must report his or her findings in a clear and unambiguous way, with the file being able to withstand future scrutiny if there is cause to query the valuation figure.
The estimated amount for which the property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without being under compulsion.” Valuers should use the following definition of Market Rent unless otherwise directed by legislation: “The estimated amount of rent at which the property should be leased on the date of valuation between a willing lessor and a willing lessee on the terms of the actual or assumed tenancy agreement in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without being under compulsion.”
Valuation standards were first introduced in the UK following the property crash of the early 1970s when there were no common standards governing valuations, and subsequently the Red Book was adopted in Ireland. Now Europe has its own EVS standard called the Bluebook.
The EU Mortgage Credit Directive requires member states to develop national valuation standards for residential mortgage lending purposes, and the Directive is to be transposed by March 2016. The European legislation recognises both the Red Book and Tegova Blue Book.
‘Lessons Learned – Guiding the Future’
The Macroprudential Policy, recently introduced by statutory instrument, provides loan-to-value and loan-to-income limits, and also contains a provision that banks now require a valuation to be carried out within two months prior to cheque issue. In many cases, this will require a second valuation to be carried out.
Valuations are widely used and relied upon for a host of reasons, but most commonly to support secured lending.
Each valuation carried out in accordance with the Bluebook Standards must be carried out by, or under the strict supervision of, a Qualified Valuer.
Valuers will at all times maintain the highest standards of honesty and integrity and conduct their activities in a manner not detrimental to their clients, the public, their profession, or their respective national professional valuation body.
The valuer must be able to show professional skill, knowledge, diligence and ethical behaviour appropriate to the type and scale of valuation and must disclose any factor which could compromise an objective assessment. Each valuation must provide an informed and independent opinion of value supported by a recognised basis or bases of valuation.
All Qualified Valuers and their representative professional or technical organisations are required to adhere to the TEGoVA European Valuers’ Code of Ethics and Conduct.
The terms of engagement and the basis on which the valuation will be undertaken must be set out in writing and agreed before the valuation is reported.
The valuation must be researched, prepared and presented in writing to a professional standard. The work undertaken must be sufficient to support the opinion of value reported.
Data retained following the submission of a valuation must be sufficient to enable verification that the analysis and evaluation undertaken in the approach, or approaches, to providing the opinion of value reported were sufficient for the type and scale of valuation.
A quick guide how to value your property for free by yourself.
I would of course advocate getting a Bluebook valuer to perform this exercise but if you want to get a ballpark estimate yourself then hopefully this will give you a simple and basic approach.
The first think you need to do is to know the size of your property
So in order to determine the price of your property you need to see what the market paid for similar properties that sold that were in close proximity and also recently sold. Note the sale price and then divide by the size to get the cost / square meter. e.g €400k / 100sqM = €4000 per sq/M. Do this for all the comparables you can find and then get an average of these so you get a cost/sqM for the area.
120sqM * €4000/sqm =€480k
South facing garden is desirable, large garden, gated parking, recently refurbished and in good condition and close to public transport, amenities, schools are all positive multiplies to a point as there is diminishing returns. Same goes for negative features being the opposite to the above.