House Valuation?

[WOOHOO]

Sorry, bit of a boring, basic question. Can someone tell me how much it costs to have your house valued? Who do you get to do it, and should you get more than one?

[AddictedToThai]

Probably you could ask here http://www.thaiappraisal.org/english/practices/default.php

[keeniau96]

Probably the most realistic appraisal is from estate agents familiar with the location. Contact several of them to give your property a lookover. They should know the prices of recent sales in your area. Remember the most important factor in house valuation is the location. After that the multiple variables of the house and property itself. Several agents should result in a range of valuations. Such service is for free; they are eager to get your listing because the house sale is the only way they can make money. Make sure to emphasize you want realistic value, not just top-dollar estimate.

[trogers]

Purpose for the valuation?

Fair value or market value?

Edited January 15, 2010 by trogers

[WOOHOO]

Probably the most realistic appraisal is from estate agents familiar with the location. Contact several of them to give your property a lookover. They should know the prices of recent sales in your area. Remember the most important factor in house valuation is the location. After that the multiple variables of the house and property itself. Several agents should result in a range of valuations. Such service is for free; they are eager to get your listing because the house sale is the only way they can make money. Make sure to emphasize you want realistic value, not just top-dollar estimate.

Thanks for that. Won't the agents keep bugging you to sell your house with them, after they've supplied that service for free though? which would be a problem because I'm not actually selling the house. (see below) Aren't there companies that charge for this service?

Purpose for the valuation?

Fair value or market value?

I rent a house that is also on the market for sale. I know what the seller wants, but I need to know the true value so I can decide if I want to buy it or not, and what offer to make if I do. As for your second question, I have no idea, they both sound like the same thing to me. Could you explain the difference.

[Pakboong]

Banks will only loan money to a Thai to buy a house based upon appraised value so this value cannot be that hard to get. It is just that us farangs never need the service of an appraiser so it doesn't come up.

[WOOHOO]

Banks will only loan money to a Thai to buy a house based upon appraised value so this value cannot be that hard to get. It is just that us farangs never need the service of an appraiser so it doesn't come up.

No offense mate, but not particularly helpful. I would have thought it obvious that the any house I bought would be in my wife and sons name, and I didn't say anything about borrowing any money. I assumed there would be companies that among other things would supply the service of valuing property. I even apologised in my OP because I thought it was such an easy answer that I felt a bit daft not knowing the answer. I guess I shouldn't have.

How about the banks, would they do it for a fee, even though I wasn't applying for a mortgage with them?

I also would like to know who you get to check your house. Check the cracks are nothing serious, and that it isn't going to fall down any time soon, subsidence etc what are they called, surveyors? and again how much do they charge. Any info appreciated.

[trogers]

Banks will only loan money to a Thai to buy a house based upon appraised value so this value cannot be that hard to get. It is just that us farangs never need the service of an appraiser so it doesn't come up.

No offense mate, but not particularly helpful. I would have thought it obvious that the any house I bought would be in my wife and sons name, and I didn't say anything about borrowing any money. I assumed there would be companies that among other things would supply the service of valuing property. I even apologised in my OP because I thought it was such an easy answer that I felt a bit daft not knowing the answer. I guess I shouldn't have.

How about the banks, would they do it for a fee, even though I wasn't applying for a mortgage with them?

I also would like to know who you get to check your house. Check the cracks are nothing serious, and that it isn't going to fall down any time soon, subsidence etc what are they called, surveyors? and again how much do they charge. Any info appreciated.

The appraisal value by the bank will not be revealed to you. Just the answer whether the bank approves the quantum of loan or if this quantum needs to be lowered.

If you want a valuation to decide if the present property owner is asking a reasonable price, then you need indications of market value.

Fair value is used mainly in accounting (valuing assets for the books), not in sales of property. Fair value is basically market value less the froth of an oveheated property bubble. Bear in mind, market value swings up and down following the property cycle. At the moment, fair value may be higher than market value as the property cycle is in its downs.

CBRE and Knight Frank are 2 reputable valuation companies. What you want to do is to contact their valuation department, not their agency, and you would not be bothered by agents calling you up on potential sales.

[WOOHOO]

CBRE and Knight Frank are 2 reputable valuation companies. What you want to do is to contact their valuation department, not their agency, and you would not be bothered by agents calling you up on potential sales.

Thanks mate, exactly what I needed. I recognise the name Knight Frank. I get the feeling that they won't be cheap but they seem very professional.

How about checking the house is structurally sound? Is that an engineer I'll need, experienced builder or someone else?

[Pakboong]

Much of what you need including links to Frank Knight and CBRE can be found here. Also gives you the standard price per square meter of property.

http://www.globalpropertyguide.com/Asia/Th...re-meter-prices

[juiso]

Much of what you need including links to Frank Knight and CBRE can be found here. Also gives you the standard price per square meter of property.

I believe the best place to find houses at true market value are houses which are being repossessed. Contact Kasikorn, Bangkok Bank etc. for a list.