Home Valuation Guide Philippines

Home Valuation Guide Philippines

property philippinesPhilippines condoned the IVSC valuation standard for valuation and estimation of real estate property under the context of the Philippines convention. Real estate investors use it as a standard for valuing land based properties.

usually applied practices under this context are :
Sales Comparison practice : in this method thearbiter investigates info regarding the freshly sold houses in that vicinity to use that info as a benchmark. The assessor uses the data to find value patterns and trends in the market. The appraiser also gathers data about other buyer profiles,span of time on the market, number of alike documented properties available during this time. These value are used by the agent to valuate a market estimate. It is one of the most popular approaches to real estate market valuation. And it holds good for residential properties.Thispractice is usable to all forms of real property. However it is not firm for commercial properties & it does not hold sound when market is feeble and there is short market transactions.

Cost Approach : In this procedure a investor of a real estate should not pay additional for a property than the cost of switching it with an identical property less the applicable depreciation.Three methods are used practically in this method.They are:

Reproduction cost method : This method is suitable when the cost of a latest equivalent asset is more than the cost of forming a clone of the subject asset,
Replacement cost method: it incorporates appraising the price that a market player would pay and the replacement cost is corrected for physical diminish and all applicable forms of degradation.
Summation method : Mainly used for investment companies, apartment philippines the steps involves evaluating each of the elementary assets and summing the value to find the main asset value.

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