Whether you are currently running a business or about to start on a new venture you need to know what a commercial property valuation can do for you. It will provide you with the answers you need to so many questions. Helping you to make a success out of your business from now on.

Firstly, it is important to discuss the two different aspects, of starting a business and currently owning one. If you are about to buy a commercial property than this is what you need to know about the valuation process:

  • Money, money, money: before you can even begin the process you need to have a set budget in mind. Your budget can affect the outcome of where exactly you can get a property.
  • Location: during commercial property valuation location is a big decider on how much you can expect to pay. The property valuers will be in charge of looking at the location of the property you are interested in. Depending on the area, what is situated around it and the buildings over all condition will determine how much it gets valued at.

Depending on the circumstances you may have to ask permission to get your own property valuer to assess the building. As it is probably already on sale, it will have a set price. The job of the valuer, in this case, is to provide you with an idea of whether the price is in fact a true reflection of the building. This will, in turn, help you to negotiate if needs be.

If you already own a business then you need to get a commercial property valuation done for the following reasons:

  • Insurance: having insurance is non-negotiable. You need to make sure that your business is covered for the right amount. The valuer will tell you how much your building, as well as, its assets are worth. Once you know this price you will be able to get the necessary insurance at the right price.
  • Expansion: if you want to expand your business you may need to get a loan. Getting a loan will be far easier to achieve if you can present the bank with the facts on how much your business is worth. It is also a good idea to have the figures on how much it has grown and subsequently the profit it is expected to make.
  • Taxes: as annoying as it is taxes need to be done every year. The tax man will need to know exactly how much your business is worth.
  • Selling: a change in pace or unforeseeable circumstances could have put you in the position to sell your business. Your asking price will be determined by the valuation.

A valuation that you can rely on

Whatever the reason is behind wanting to get a valuation done, you need to know that the findings will be accurate. Here at The Property Partnership we can provide you with such a service. Visit our website to find out more.