A Brief Introduction To
Property Assessment
How to identify
assess and cost your
property repair projects!!!
Introduction to Property Assessment
One of the most common
property assessment
questions to arise relates to whether we really need to have a property valued before we buy it. Let's explore
some of the pros and cons, so you can decide for yourself. Unless you are very confident about your own ability
and judgment, you would be wise to seek guidance from experts before undertaking any major restoration work. If
you are considering buying property with the intention of quickly reselling at a profit, a trusted builder will
conduct the
property assessment,
estimating the likely renovation costs and a selling agent will estimate the price at which you can realistically
hope to sell.
Ideally, you should already have both a builder and a selling agent on your team, both with a
clear incentive to do exactly as you require, since they each stand to benefit financially from
your plans. These reciprocal arrangements are crucial to your success as an investor. Everybody needs
the involvement of other players in order to achieve success. You might choose to cut the builder in for
part of the profit, although this should not stop you from ensuring that he is fully aware of how his
costs are to be quantified and how the profit, or any loss, is to be split. With such an arrangement,
you have given a further incentive to the builder to maximise profits by giving him some level of
ownership of the project.
Even without a builder's advice, a common sense approach should give you a pretty good idea of what
needs doing to a property. If you are unsure, you might want to consider whether you need the
property assessment
advice of a building surveyor or a structural engineer. Let's take a look at the many areas
you'll need to consider.
Start with a slow look around, both inside and out, to familiarise yourself with the property and to
identify the obvious problems that quickly surrender themselves. This is often more useful when it's
raining, since many water related
property assessment
problems only show themselves when it rains. If it's not raining when you first visit, try to find time to go
back when it is.
Summary
OK, that's the end of this introductory section on
property assessment,
and I hope you found it to be informative.
The Blue Cherry Knowledge Base library contains a lot more 'free to all' advice and information on the property
investment business. In addition to this introductory content, however, we also provide more in depth
advice and information on the subject of
property assessment
and all the other topics listed in the library, including details of our own methods of operation, and some of
the strategies we apply. This more in depth, valuable content is freely available to those who subscribe to our
free E-Course by simply registering a first name and an e-mail address with us.
What's Next?
1. If you would like to subscribe to our free E-Course now, please click on Contact
Us and place the word SUBSCRIBE in the Comments box on that form.
2. If you would like to express your interest in running a home based property business now, taking
advantage of the 'no money down' strategies that we make available to our associates, including the
option to use our money to pay the up front costs of buying your investment
properties, you can do so now by sending an email to support@no-money-down-property-advice.co.uk
and type the word INTERVIEW in the subject box.
3. Before you move on, you might want to add this
property assessment
page to your favourites list so you can find it again in the future. To add this page to your favourites list:
In AOL - click the small red heart at the top of this page.
In Netscape - Press CTRL-D.
In Internet Explorer - click
All done? OK, now simply click the button below to visit the 'free to all' Knowledge Base library.
Back To Top
© Copyright 2004 - Blue Cherry Consultants Limited. All Rights Reserved.
|
