Among st the various important steps that are considered very critical for smooth transfer of property ownership, not many of us would be aware that property Valuation or property settlement occupies an important place. Therefore in this article we will try and find out why it is important to hire the right professionals for the job given the vital position it occupies in the entire hierarchy of property ownership transfer. First and foremost we have to bear in mind that buying and selling of real estate property is not as simple and straightforward as buying other movable and immovable assets.
This is because there are quit a few legal aspects that need to be taken care of. It is quite unlikely that as ordinary citizens we will have any idea about the various legal complications involved in the entire property settlement matter. Therefore, as customers we have to depend on professionals to complete the matter successfully and that too within a short period of time.
Valuation is not about one single process but involved quite a few steps and formalities. On the one hand there is the need to legally scrutinize the property documents. There could also be the need to examine the property in person to avoid some nasty surprises like easements, covenants and other encumbrances. These encumbrances could literally damage the unhindered rights of the buyer and therefore it should be brought to light well before the property is transferred from the sellers to the buyer.
Apart from the highly important role of property lawyers and attorneys, there is also the role of property valuers and appraisers whose roles are also important. They play a comparatively smaller role but it is also quite vital to say the least. Their main job is to find out more about the fair market value of the property so that an objective and correct decision can be taken whether to go ahead with the property sale or not. Though the valuation report is the main document that emanates from a valuer, there are other subjective pieces of information also that are considered very important.
These include mention about the infrastructure development in the locality, availability or absence of various amenities and facilities just to name a few. Last but not the least, the role of documentation specialists and other administrative staff often gets relegated to the background. Without their active support and work, it would not be possible to integrate all the activities and carry it towards it logical conclusion.
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