Desktop Valuation
Desktop Valuation refers to the process of estimating the value of a property or Asset using available data and information without conducting a physical inspection. This method relies on comparative market analysis, public records, and other data sources to derive a valuation.
Examples:
- A real estate agent evaluates a residential property by comparing it to similar homes sold in the area, using online databases and recent sales data.
- A lender conducts a desktop valuation of a commercial property by analyzing its rental income, market trends, and financial reports, without visiting the site.
Cases:
- In a fast-paced real estate market, a homeowner might request a desktop valuation to quickly determine the market value of their property before listing it for sale.
- A bank may use desktop valuations to assess the value of properties for mortgage approval when there’s a need for expedited processing.