Property Valuation & Appraisal
Property is a major investment. For more than 35 years we’ve advised property owners, investors and developers on how to maximise value. At JEC our main objective is to look after our clients’ best interests. Whether you’re buying your first home or planning a large development, we have the knowledge and experience to provide you with independent, accurate and professional advice on across all aspects property.
Our valuation reports are prepared by Chartered Surveyors in accordance with the Royal Institution of Chartered Surveyors (RICS) - Valuation Standards (Red Book). The Red Book includes mandatory reporting and best practice guidance for members, ensuring high standards in valuation delivery worldwide. Our reports comply with International Valuation Standards and are accepted by all lending and insurance institutions.
No matter the size, scope or complexity of your needs, we believe your experience of the valuation process should be simple and straightforward. Our team are ready to add expertise and value every step of the way. Read more about our Valuation and Appraisal services below:
Get in touch and enquire now.
Our valuation reports are prepared by Chartered Surveyors in accordance with the Royal Institution of Chartered Surveyors (RICS) - Valuation Standards (Red Book). The Red Book includes mandatory reporting and best practice guidance for members, ensuring high standards in valuation delivery worldwide. Our reports comply with International Valuation Standards and are accepted by all lending and insurance institutions.
No matter the size, scope or complexity of your needs, we believe your experience of the valuation process should be simple and straightforward. Our team are ready to add expertise and value every step of the way. Read more about our Valuation and Appraisal services below:
Get in touch and enquire now.
Mortgage/Loan Security
JEC provide independent valuation services for private, banking and finance professionals over all property types including commercial, industrial, retail, specialised assets and residential, including prestige properties. Our valuations are accepted by all lending institutions in the Cayman Islands for first mortgage security, mortgage realisation, and progressive payment release.
Acquisitions/Purchase and Sale/Disposal
Buying a property? We can provide a pre-purchase valuation to give you the reassurance about price so you know if you’re paying too much or if you are not sure how much to offer.
Selling a property? Determining your asking price, reserve price or selling price is one of the most critical decisions you will make and so being informed about the true market value of your property will help you achieve the best results. An independent property valuation will help you avoid under-pricing or selling your property for less than it’s worth, or overpricing the property in the current market.
Insurance Services
At JEC our Insurance Services experience stretches back over 35 years. Our Chartered Surveyors have provided Insurance Services in the Cayman Islands through all major catastrophes such as hurricanes Gilbert, Mitch, Michelle, Ivan and Paloma.
JEC’s expert assessors can provide an Insurance Replacement Cost Assessment. This building assessment for insurance purposes is sometimes referred to as a Replacement Cost Assessment or an Insurance Valuation. Whether it is for a residential or commercial property, an Insurance Replacement Assessment is required to determine what the replacement cost will be if there is a total loss to your building/improvements.
An insurance Replacement Cost Assessment is an estimate of the actual cost to rebuild the building at the time of the assessment, assuming a total loss situation and a reinstatement with a new building/buildings of similar size and materials.
Our Insurance Replacement Cost Assessment would typically include the estimated current construction cost, provision for cost escalation during the insured period and rebuilding process, allowances for demolition and clean up, professional fees and other costs depending on the type of property.
The correct amount of insurance cover is considered crucial in the event of a claim; it also ensures you are paying the appropriate premium for your property with your insurance company.
We are associated with a major international Loss Adjusting firm who provides adjusting services throughout the Caribbean. This association enables us to draw on outside expertise and additional resources in the event of more complex claims or a natural disaster.
Expert Witness
Our specialised team are regularly instructed to provide evidence as an expert witness in property dispute claims across all courts and jurisdictions.
At JEC, we have a team of senior property experts that regularly provide valuation advice to some of the Cayman Islands forefront legal practitioners.
JEC’s specialist advisory team provide independent, impartial and unbiased evidence to the court or tribunal. Our valuation team are all RICS Chartered Surveyors and have required training and expertise to be viewed as experts in matters of property valuation in the eyes of the Law.
Expert Witnesses are often engaged to resolve disputes between parties on land and property related matters. JEC provides Expert Witness Valuation reports and advisory services to clients who require this type of service to be used as evidence in court.
Private property owners, property investors, banking and finance professionals, and professional services including accountants, family law and legal practitioners, may at times require expert witness property valuations and advisory services. We also provide these services to Government departments, property developers, small to medium businesses and global corporations.
Family or Estate Settlement
A Family Settlement valuation will provide you with an accurate value of the property which you can then take forward with your separation proceedings. The valuation can be undertaken on behalf of one of the parties, or alternatively, both parties can jointly instruct a Chartered Surveyor to undertake a valuation of the property.
As an executor, administrator or beneficiary of a Will, you may be required to undertake a market valuation of the estate’s property assets.
In preparation for a probate settlement, or if there is any disagreement between beneficiaries, JEC can provide a valuation for Estate or Probate purposes before selling or transferring ownership of the property asset.
Deceased estates and probate property settlements can sometimes cause disputes among beneficiaries, often due to disagreements on the value of the property. An independent valuation for Estate or Probate purposes ensures that the market value of the property can be established which will be used by the executor of the Will to determine the fair and equitable distribution of assets.
Transfer/Stamp Duty
When transferring an asset between parties, an independent market valuation maybe required to determine the stamp duty which could be payable.
Stamp duty payments are a requirement when buying a property. There may however be some exceptions where an assessment may be necessary, expert witness valuations may be required in some circumstances. For example, when family members, friends or business associates transfer an asset between parties, and that asset has not been sold on the open market, a stamp duty assessment may be required.
First time Caymanian buyers, transactions within funds or trusts, and many other scenarios, may also need to provide the Cayman Islands Government with an independent market valuation to determine the duty payable. JEC’s team of Chartered Surveyors provide valuations for stamp duty across all property types.
Taxation
For property owners that are legally resident in other jurisdictions or citizens and corporations of nations required to report on their Cayman Islands property assets for tax purposes. JEC is experienced in providing property valuations for this purpose worldwide.
Dispute Resolution
Our specialised team are regularly instructed to provide evidence as an expert witness in property dispute claims across all courts and jurisdictions.
Our professional services are used by legal professionals and their clients who require an independent valuation and specialist property advice for dispute or litigation purposes. Private property owners, property investors, banking and finance professionals, and professional services including accountants, family law and legal practitioners, may at times require litigation advisory services.
