When does it make sense to have a property valued?

There are many reasons for wanting to have a property valued by professionals:

• You might be interested in buying it and want to be sure that the asking price is reasonable.
• Or you could be thinking about selling it and want to know what sort of price you can expect. 
• Perhaps you want to know how much money is tied up in your real estate or how the value of the property has changed in recent years.
• If you are getting divorced, you could need to know the current market value in order to divide up your marital assets.
• You might be in a community of heirs and need the current value to use as the basis for fairly dividing up the inheritance.
• You could be about to renegotiate the terms of your mortgage with your bank.
• If you are planning a major investment, you might want to know how much the property will be worth before and after renovations are carried out.
• You could want to know how much rental income you would receive if you decided to rent out your property.