What is Property?
Property is anything that can be either tangible or intangible, and having legal title grants the owner certain enforceable rights. Property may be classified as 1) movable (Personal) or Immovable (Real), 2) Tangible or intangible 3) Current asset or Fixed Asset and/or any other category. In general it covers a wide range of definitions and analyzed under different categories.
What is Property Valuation?
A property valuation is the process of developing an opinion of value for real property (usually market value) or can be defined as the act of estimating the value of real estate by a person or a company licensed to do such activity.A property valuation is typically produced as a report and, in addition to photographs and plans it may contain different detail information and valuation analysis to arrive at fair value. Fair Value is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. An estimate of fair market value may be founded either on precedent or extrapolation. Property value differs from the intrinsic value that an individual may place on the same asset based on their own preferences and circumstances.Therefore, property valuation is the process of determining Fair Market Value of an asset for the intended user as per the valuation purpose.In part II we will discuss on the importance, purposes, and methods of Property valuation. Also the issues of property management will be discussed in the coming periods.
#Property Valuation company in AddisAbaba, #Property #Management Company in Addis Ababa
#Asset #Valuation #company #in #Ethiopia