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HOUSE VALUATION
Kwanini
#1 Posted : Wednesday, July 22, 2009 12:44:00 PM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
Good people,anyone know someone 'affordable'who does valuation of property[houses].
I have met one who says the cost of valuation is based on the value of the house. [chicken and egg biznes- which came first?

Funny coz i need to est. the market value of 3br 'old' house for purpose of insurance / selling. The insurance chaps do not have any 'approved list,' like that of car valuers because the 'market is distorted' Heelp!!!

For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
FundamentAli
#2 Posted : Wednesday, July 22, 2009 12:55:00 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
What you need is someone to advice you on the cost of replacement for insurance purposes. Do not go to a valuer. Get a quantity surveyor.

However,if you need to get a value of the house with a view to sell,get a valuer.

The cost of construction (replacing) and the market value of a house are two different animals.


Fundamentals + Sentiments = Position
Mr.Tea
#3 Posted : Wednesday, July 22, 2009 1:18:00 PM
Rank: Member

Joined: 12/4/2008
Posts: 341
Location: Nairobi
Where is the house and which risk are you insuring against? The cost of valuation is never prohibitive for its based on a negotiable scale. Provide me with the above info and I will be able to give you a cost range.

Patience Pays in Guaranteed Checks
Patience Pays In Guaranteed Checks.
Kwanini
#4 Posted : Wednesday, July 22, 2009 1:36:00 PM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
Bwana Chai - Nyumba iko Kahawa but its rented. i want to insure against Fire and other 'applicable risks'. Am told for insurance one can give any 'reasonable'figure?

For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
Mr.Tea
#5 Posted : Wednesday, July 22, 2009 1:51:00 PM
Rank: Member

Joined: 12/4/2008
Posts: 341
Location: Nairobi
15k would not be too unreasonable. But its your call.....How much had you been told to cough?

Patience Pays in Guaranteed Checks
Patience Pays In Guaranteed Checks.
KulaRaha
#6 Posted : Wednesday, July 22, 2009 2:03:00 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
I also want to get a house valued for fire insurance purposes.

Business opportunities are like buses,there's always another one coming
Business opportunities are like buses,there's always another one coming
Litro
#7 Posted : Wednesday, July 22, 2009 2:17:00 PM
Rank: Member

Joined: 7/22/2009
Posts: 120
Location: KENYA
True guys the valuation fees are usualyy dependent on the value of the house. See the Valuers Act Cap 532.

I see the reason why you need a valuation is to either insure your house or sell it. Most insurance companies will require you to give a valuation report that has been signed by a reigstered valuer so if you go to a quantity surveyor..it will be an exercise in futility,they will still require you to go back to a valuer. Valuers and Qs's are birds of a feather just in case you didnt know.

All in all i would still advise you to seek a valuers opinion. He will and should be able to provide you with the following values if you so require. 1. Market Value 2. Mortgage Value 3. Forced Sale Value 4. Insurance Value. By doing so you will be killing two birds with one stone.

Just go to a directory and chose a valuer randomly. It might be your lucky day and by the way you can always negotiate!!


jaribu
#8 Posted : Wednesday, July 22, 2009 2:21:00 PM
Rank: Member

Joined: 5/23/2007
Posts: 441
I have used pinnacle valuers before and they were quite professional and reasonably priced. I hope nothing has changed. They are located at postbank house opposite city market. Use their site just in case www.pinnaclevaluers.com but always shop around. They have also worked extensively with NHC,National Housing Cooperation.

Cheers!


bY aNy MeAns NecEsSaRy.....
Stra
#9 Posted : Wednesday, July 22, 2009 7:19:00 PM
Rank: Member

Joined: 1/27/2009
Posts: 70
Contact me at mkhenri@gmail.com. I'll definitely get you a good valuer.

'A ship in harbour is safe; but that is not what ships are made for'.

Kwanini
#10 Posted : Thursday, July 23, 2009 7:29:00 AM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
Superb advice here! Thanks everyone. Skerians are just splendid! Am now up to speed. Thanks @litro/jaribu- great advice. The ball is now at AON. The charges are not as scary as i thought once you nego. The odd thing is the cover premium is dirt cheap- far less than that of typical mutumba car,!!! God bless you all.

For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
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