Valuations and Appraisals

Why have a valuation carried out?

Valuations are also called appraisals and are often required in relation to a mortgage, loan, wills and probate purposes or assessment of your assets in the event of divorce or a dispute.

Valuations are necessary for numerous reasons and it’s important to the Appraiser to understand and identify the purpose of your request. An appraisal determines the estimated Market Value of your home, condominium, commercial property, vacant land or estate. The appraisal is used to assist you in making a decision which you may be considering purchasing, selling, insuring, or lending money. At BV&A, our appraisers are fully qualified to assist with your requirements.


1. Estate Planning

  • Probate Purposes

Probate Purposes – A probate appraisal is necessary for property owned by a person on their death and is based on the value of their property on the date of their death. The deceased’s estate is required to be appraised for tax purposes.

  • Voluntary Conveyance

Voluntary conveyance is transferring the title of your property to another person. The appraisal is essential for tax purposes as stamp duty is payable to the Government of Bermuda. The amount of stamp duty paid is based on the value of the property.


2. Requirements for the Bank

An appraisal is required for the bank for several reasons:–

  • A mortgage to purchase a property
  • Collateral for secured financing
  • Re-financing or varying the terms of an existing loan or mortgage.

3. Matrimonial Purposes

Many important decisions are made during a divorce settlement. A decision has to be made on whether to sell the property or opting to buy the other party out. In either case, a divorce appraisal would be required to be relied upon by lawyers and also in court.


4. Opinion of Value/For Sale

An appraisal determines the property’s worth at the current Market Value. An independent valuation will support your decision on what price to sell your property based on present-day market trends.

Our appraisals for residential and commercial properties are accepted by all financial institutions in Bermuda, the Government of Bermuda, Private Trusts and Attorneys.

For more information please contact us today