Good people,anyone know someone 'affordable'who does valuation of property[houses].
I have met one who says the cost of valuation is based on the value of the house. [chicken and egg biznes- which came first?

Funny coz i need to est. the market value of 3br 'old' house for purpose of insurance / selling. The insurance chaps do not have any 'approved list,' like that of car valuers because the 'market is distorted' Heelp!!!

For i am the master and the captain of my fate !

Where is the house and which risk are you insuring against? The cost of valuation is never prohibitive for its based on a negotiable scale. Provide me with the above info and I will be able to give you a cost range.

Patience Pays in Guaranteed Checks

15k would not be too unreasonable. But its your call.....How much had you been told to cough?

Patience Pays in Guaranteed Checks

True guys the valuation fees are usualyy dependent on the value of the house. See the Valuers Act Cap 532.

I see the reason why you need a valuation is to either insure your house or sell it. Most insurance companies will require you to give a valuation report that has been signed by a reigstered valuer so if you go to a quantity surveyor..it will be an exercise in futility,they will still require you to go back to a valuer. Valuers and Qs's are birds of a feather just in case you didnt know.

All in all i would still advise you to seek a valuers opinion. He will and should be able to provide you with the following values if you so require. 1. Market Value 2. Mortgage Value 3. Forced Sale Value 4. Insurance Value. By doing so you will be killing two birds with one stone.

Just go to a directory and chose a valuer randomly. It might be your lucky day and by the way you can always negotiate!!

Contact me at mkhenri@gmail.com. I'll definitely get you a good valuer.

'A ship in harbour is safe; but that is not what ships are made for'.

Kwanin,

Cost of insurance for fire purposes is determined by a QS. If your house burns down the cost adjuster will contact a QS to see if it was firstly properly insured for the purpose. The adjuster will also use a QS to determine the cost of restoration. You could have over insure or under insured both of which allow the Insurance companies to escape without paying part or all of their liability.

When it comes to mortgages,sales,forced sale,market value,then go to a valuer.


Fundamentals + Sentiments = Position

Call NW REALITE LTD on 0202727475; 0202728778 and ask for Isaac Wirunda


BOBB

@Tebes;

I'd like to differ slightly with @Litro. I think you can ESTIMATE the MARKET value of a house from its rent. But the relationship varies from town to town.

In Nairobi,the market value of a house comes to approximately 150 times the monthly rent. Thus if the rent is 20k,the market value is about 3m. In my estate,2br house are fetching between 30k to 35k in rent and anyone wishing to sell will not discuss anything with you if don't have 5m

As for the example given by @Litro; chances are that if the house currently fetching 50k rent is sold to a new owner at 10m,the new owner would soon raise that rent to 65k.......65 x 150 = 9.75m. BTW: if I bought it,I would do exactly that!

Perhaps this explains why rents have been shooting up so often....people are buying house for speculative reasons; when the sell them,the new owners are hiking up the rent to get decent returns on investment....

It's not a rule-of-thumb,but it's a good guide...estimate

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)

Hi,,

You try contacting Paragon Valuers... I've used them before after shopping around,and they were quite resonable on price. They're on Twiga Towers,3rd floor. Ask for John Ikonya on 315750/2246673,very professional dude. Good luck

@Kwanini,
Overvalue? Relative to what?

Patience Pays in Guaranteed Checks