Property Valuations & Appraisals

When applying for a mortgage the current bank policy is to request that property valuations be undertaken by a chartered valuation surveyor, or other appropriately qualified valuation professional.

In the Cayman Islands it is usually the purchaser, not the seller, who has to undertake the step of getting a property valued or appraised. A property valuation acceptable to local banks should be prepared to the internationally recognised standards of the Royal Institution of Chartered Surveyors (RICS Valuation Standards). The valuation report will give a general description of the property, describe any improvements to the house or the garden, pool, fencing, etc. (and work out their value to the property). It will take into account the location, give formal title details, include maps and photographs and provide invaluable background checks on the recent property sales in the area. It should also make particular reference to any encumbrances or leasehold interests on the property and should set out the valuation methodology used by the valuer.

In addition to providing the bank with the information that the lender requires for financing purposes, a professionally prepared valuation report should also provide the purchaser with the reassurance that they are paying the fair market value for the property and that there are also no obvious defects to the property.

Below is a list of the top valuation companies operating in the Cayman Islands. They all use RICS valuation standards:

JEC Property Consultants Ltd

Established over 30 years ago, JEC is one of Cayman's leading property consultancy firms providing a wide range of property related services

Tel: +1 345 945 5930 Email: contact@jec.ky www.jec.ky

BCQS International – Property & Development Consultants

BCQS is a firm regulated by RICS. They offer a range of services, including project management, cost management and more.

Tel: +1 345 949 8644 Email: info@bcqs.com www.bcqs.com

Blue Point Consultants Ltd.

RICS registered valuer offering property valuations, development appraisals, feasibility studies, employee relocation programmes and more.

Tel: +1 345 925 2727 Email: info@bluepointproperty.com www.bluepointproperty.com

Bould Consulting

With over 40 years working in the Caribbean, Bould Consulting Limited is part of the global practice of Rider Levett Bucknall.

Tel: +1 345 946 6073 Email: info@bcl.ky www.bcl.ky

Charterland

Services include: Commercial, residential and strata property management, valuations and appraisals, feasibility studies, quantity surveying

Tel: +1 345 623 2772 Email: info@charterland.ky www.charterland.ky

DDL Studio Ltd.

DDL Studio Ltd. is a well-established multi-disciplinary construction consultancy providing valuation and appraisal and more.

Tel: +1 345 943 3622 Email: info@ddlstudio.com www.ddlstudio.com

Quayside Surveyors Ltd.

Chartered Surveyors - RICS Registered Valuers. Services include: Freehold and leasehold valuations, reinstatement valuations and more.

Tel: +1 345 946 0662 Email: alex@quaysidesurveyors.ky www.quaysidesurveyors.ky