Valuation
Valuation is a written opinion of a property's current market value in Lahore, based on what comparable properties actually transacted at rather than what similar ones are advertised at. It is used before selling, for a bank or legal requirement, or to settle a division between family members.
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How it works
Step 1
Details
What the property is, its size, its condition and where the title currently sits.
Step 2
Inspection
A visit to confirm what is actually there, because documents and reality diverge more often than owners expect.
Step 3
Comparables
Recent completed transactions nearby, adjusted for the differences that matter.
Step 4
Written opinion
A signed written report, delivered as a PDF by email within the agreed turnaround, giving the opinion of value, the comparable transactions it rests on, the adjustments made for your property and a note of any title or planning matter that affects the figure.
What is a valuation based on?
Completed transactions, not listings. The gap between the two is wide here and it is not consistent, so a valuation built from asking prices is not a valuation. We look at what genuinely comparable properties sold for, then adjust for the specific condition, position and title status of yours.
What can the valuation be used for?
Our valuation is an independent professional opinion of market value, evidenced against completed transactions and signed by the person who prepared it. It is used for pricing a sale, settling a family division or inheritance by agreement, insurance and internal decisions. Pakistani banks lend against reports from valuers on the Pakistan Banks' Association approved panel, so for a mortgage the bank will usually commission its own panel valuer; our report is useful to check that figure, not to replace it. For court proceedings or tax purposes, the court or the FBR may require a valuer from their own list, and we will say so before you pay for a report that cannot be used.
How is a valuation different from a free estimate?
An estimate given over the phone to win your instruction is a sales pitch. A valuation is inspected, evidenced and written down, and the person who signed it has to stand behind the reasoning.
- How the fee works
- A flat fee agreed in writing before the inspection, scaled to the type and value of the property. If Glosix goes on to sell the property, the valuation fee is credited against the sale commission in full.
- Typical timeline
- Three to five working days from instruction to the written report for a standard house, flat or plot in Lahore. Commercial property and anything with an unclear title take longer because there is more to verify.
What’s included
- Site inspection
- Comparable transaction analysis
- A written report
Who this is for
- Owners considering a sale
- Bank and legal requirements
- Family divisions and inheritance
- Insurance
Questions about valuation
How much does a property valuation cost?
A flat fee, agreed in writing before the inspection and scaled to the type and value of the property; a plot costs less to value than a built house, and a commercial unit more. If Glosix subsequently sells the property, the valuation fee is credited in full against the sale commission, so an owner who goes on to sell with us does not pay twice.
How long does a valuation take?
Three to five working days from instruction to the written report for a standard house, flat or plot in Lahore. It takes longer when the area has few recent completed transactions, when the title needs checking at the society or land records office, or for commercial property where rental evidence has to be gathered as well.
Will a bank accept your valuation?
For lending, Pakistani banks use valuers on the Pakistan Banks' Association approved panel and will usually commission their own, so you should not pay for ours expecting a bank to accept it in place of theirs. Where our report is useful is in checking the bank's figure and in negotiating with the lender, and for every purpose that is not a loan: pricing a sale, a family settlement, insurance or an investment decision. If a specific lender requires its own valuer, we tell you before you instruct us.
What is the difference between a valuation and a market appraisal?
A valuation is inspected, evidenced against completed sales and written down. A market appraisal is an opinion of what a property might achieve, usually given free when an agent is pitching for the instruction. Glosix gives a market appraisal free to any owner thinking of selling or letting. The written valuation, with the inspection and the evidence behind it, is the chargeable service.
Can you value a property for a family division or inheritance?
Yes. Divisions and inheritances are a common reason for a valuation in Lahore, and a written figure from an independent party is usually what lets family members agree without a dispute. We need the title documents, the names of the parties, and a clear statement of what is being valued: the whole property, a share of it, or a portion that is to be physically divided. Where a court has to approve the division, it may require a valuer from its own list, and we will say so at the outset rather than after the report is written.