Product : Valuations
Here is where you can find out what The Property Shop can do for you if you are wanting to estimate the value of your property.
The value of a property is different in different circumstances. For a mortgage lender, like the Bank of St.Helena, the value should approximate to the market value, but the Bank is not versed in the fluctuations of the property market or cognisant of what potential buyers are currently looking for, so their view of valuation tends to coincide with that of, say, an Insurer, whose only concern is the cost of repairing or rebuilding should a catastrophe happen, reducing the intrinsic value by virtue of the damage caused.
But, when you are wanting to sell your property, you are much more likely to want to know what potential purchasers are prepared to pay for it. This is a market value. Market valuations are not scientific, at least not in a property market as small as that in St.Helena, so we have to combine the knowledge of a competent builder, with the market experience acquired on a continuous basis by The Property Shop.
This is why The Property Shop engages a recognised builder to estimate the rebuild costs, and then adjusts the resulting figure according to such criteria as location, access, view, amenties, proposed developments in the area, feedback from previous sales etc.
The resulting valuation will almost certainly be different to what you will obtain from the Bank of St.Helena. It is unfortunate that if you are needing a mortgage to buy a property, the Bank's valuation will often be low compared to a market valuation, so that the amount they are prepared to loan may well be significantly less than what you would expect from the market value. You may wish to approach the Bank of St.Helena on this topic (see here).
Use the Contact page to ask about valuing your property.