Real Estate Appraisal Services and Property Appraisers in Pampanga
CG Garcia Appraisal and Land Title Services is a leading professional firm engaged in real estate services. We have more than 50 years of experience in helping many individuals and companies with different kinds of real estate needs. Our main purpose is to provide professional real estate services because we ant to help you make the right decision on your properties.
One of our core services is Real Estate Appraisal. This is the process of determining the value of a real estate property. As a Real estate appraiser or Property Appraiser, we can help you accurately determine the true value of your property. As part of our Real Estate Appraisal services we also can help you evaluate a property, you intend to invest on or even determine the value for tax purposes.
How do Real estate appraisers value a property?
There are three valuation methods or approach followed by a property appraiser when determining the Market Value of a property.
1. Sales Comparison
This approach is done by comparing and considering the Fair Market Value or selling price of recently sold properties similar to that of being appraised. There are different sources to obtain these data, such as property listings, real estate brokers and professionals, and other publicly available data or records.
There are also other contributing factors that Real Estate Appraisers are considering when doing their property appraisals. This includes property location, lot area, floor area, population, nearby establishments, and a lot more. Basically, they look for similar characteristics in other similar properties.
Adjustments are made when doing property appraisal as there are no two properties that are equally the same.
2. Income Capitalization
This Property Appraisal service method usually applies to properties that produce income. This Real Estate Appraisal approach allows potential buyers to have an idea or estimate of the real value of the property by identifying the actual income of the property. This, of course, will include other factors such as the condition of the property, renovation, age, vacancy rate of the property and the likes.
The basic formula for this method is commonly referred to as IRV. This is the Net Operating Income divided by Capitalization Rate which will then determine the value of the property.
3. Cost Approach / Summation
This real estate appraisal approach values the property by considering how much the property structure will cost now if it will be taken down and have to build a new one. The value of the land will also be considered. The principle behind this method is that it is less favorable for the buyer to pay more rather than building it from scratch.
There are two types to this approach, Replacement and Reproduction.
Value of the property is calculated base on Replacement or Reproduction Cost minus the Depreciation then add the value of the land.
To ensure that the price of the real estate property you are selling or purchasing is right, you can seek the help of Real Estate Appraisal services from a reputable Property Appraiser. CG Garcia Appraisal and Land Title Services will absolutely be of help. We are located at JASA Avenue corner Lazatin Blvd., City of San Fernando Pampanga.
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CG Garcia Appraisal and Land Title Services also offers
- Land Title Transfer
- Property Due Diligence
- Consolidation/ Subdivision of Title
- Registration/ Cancellation of Mortgage
- Reconstitution of Lost Title
- Amendment of Technical Description of Title
- Cancellation of Annotation on Title
- Assist in the Assessment and Payment of Real Property Taxes
- Land Conversion
- Real Estate Appraisal Services
- Relocation/ Boundary Survey
- Subdivision Land Survey
- Topographic Survey
- Title and Tax Declaration Verification
- Traceback of Ownership/ Due Diligence
- Verification of Technical Description of Title
Send Request for Appraisal
Let us know about the details of the property you are selling or purchasing. Kindly fill up the form below to the best of your knowledge. One of our property appraisers will contact you within 24 hours.