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Keywords: Real Estate
Lim Lan Yuan
2010/2011 RE
Issue Date: 20-Apr-2011
Citation: YEOH YEE YEE (2011-04-20). ACCURACY OF INDICATIVE VALUATIONS. ScholarBank@NUS Repository.
Abstract: An indicative valuation is done without a site inspection and detailed check on the legal tenure but is merely based on information that is provided by the client. Although indicative valuations are not encouraged, they are common and have become an accepted practice among property valuers in Singapore. The purpose of this study is to examine the extent of accuracy of indicative valuations. In addition, this research seeks to investigate whether there is a correlation between the accuracy of indicative and actual valuations. This study also compares the levels of accuracy of indicative valuations between residential and non-residential properties. A total of 180 data sets on indicative valuations were collected from 12 valuers through a survey and interviews. The results show that indicative valuations for residential property tend to be more accurate than those for non-residential property. Besides, the indicative valuation tends to be more accurate when the actual valuation was carried out within a short period from the date of the indicative valuation. There are implications for using indicative valuations which makes conducting actual valuations less relevant. Thus, the results of this research have provided useful evidence on this indicative valuation practice and contributed to a better understanding of the accuracy of these valuations.
Appears in Collections:Bachelor's Theses

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