Valuations for mortgage purposes require two separate and distinct expertise; firstly, that of the Valuation Appraiser and secondly, that of the Quantity Surveyor.
Valuation/appraisal of property: Valuation of an existing property is nearly always necessary when it is being used as security for the mortgage loan. That property may be a vacant lot of land, or one with an unfinished building, one requiring repairs, renovation and or extension. Where the application for the loan is for new construction or for improvement to an existing structure; the mortgagee/ lender will also require a projected valuation of the proposed works, as if the construction or improvements were already completed. This particular exercise requires Quantity Surveying expertise.
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