Valuation of all Purpose
Valuation in the real estate world is the art and science of estimating the worth of an interest in property for a specific purpose at a particular time, taking into account the features of the property and considering all the underlying economic factors of the market as well as the range of alternative investment. It is an art because it is the valuer's subjective opinion of value, based on the depth of his/her skills, training, data gathering, and dedication. Assets subject for valuation can categorized into: furniture, fixtures & fittings, office equipment, Plant & Machinery, motor vehicles, Land & Buildings, shipping vessels, Aircrafts. The value of an object can vary, depending on the purpose for which it is to be used or the person seeking to use it. In other words, there are many types of values namely: open market value, forced sale value, value-in-use, probate value, highest and best use value, etc.
- Mortgage & bank valuations
- Insurance & reinstatement valuations
- Probate & estate valuations
- Corporate asset valuations
- Plant & machinery valuations
