Valuation by Sunbelt Realty on Bonaire

Distinctive quality in valuation services

Discover the distinctive quality of our valuation services. We work with certified appraisers. As a market leader, we not only have extensive knowledge of the market, but our appraisers are also professionally trained experts in their field.

We carry out valuation assignments for private clients, banks, the Tax Administration, the Public Entity Bonaire and the Government of the Netherlands. Our appraisers operate exclusively on the BES islands of Bonaire, Sint Eustatius and Saba, where we value both residential and commercial real estate.

Reasons for obtaining a property valuation:

• Purchase or sale
  To determine the market value of a home or other real estate before it is purchased or sold.

• Mortgage application
  Lenders often require a valuation to determine the value of a property before approving a mortgage. We understand that, when applying for financing on Bonaire, the timely completion of the valuation assignment is important.

• Insurance
  To determine the replacement value, also referred to as the reinstatement value, of a property for insurance purposes, ensuring that the property is adequately insured against damage or loss.

• Divorce or estate
  To determine property values when assets are divided as part of a divorce or to establish the value of assets in an estate.

• Tax purposes
  For example, to determine the value of real estate for Real Estate Tax or Land Tax assessments on Bonaire.

• Investment evaluation
  For investors, a valuation can help assess the value of real estate as part of an investment portfolio.

• Legal disputes
  In legal matters, such as expropriation, a valuation may be required to determine the value of the property concerned.

• Renovations or extensions
  To determine the value of a property before significant renovations or extensions are carried out.

Contact us or choose the appraiser you already know from our team.

Valuation fees for a lot, house or apartment

-	Valuation of a house or apartment	:	USD 450,50 incl. ABB * If the market value is below the NHG limit for Bonaire (USD 305.000), the maximum fee is USD 350,00 incl. ABB.
-	Valuation of a house or apartment for a financing application (including reinstatement value)	:	USD 503,50 incl. ABB * If the market value is below the NHG limit for Bonaire (USD 305.000), the maximum fee is USD 390,00 incl. ABB.
-	Valuation of a house or apartment >400 m2 gross floor area and/or property located by the sea	:	USD 662,50 incl. ABB *
-	Valuation of a house or apartment in its current condition + renovation plan	:	USD 662,50 incl. ABB *
-	Valuation of undeveloped lot <2.000 m2	:	USD 318,50 incl. ABB *
-	Valuation of undeveloped lot >2.000 m2	:	see fee under the commercial real estate category
-	Valuation of undeveloped lot & new-build plans	:	USD 450,50 incl. ABB *
-	Statement of reinstatement value of a house for insurance purposes (report provided in letter format)	:	USD 159,00 incl. ABB *

*Costs for required cadastral information and/or cadastral maps will be charged by the appraiser to the client and are not included in the fee.

1. For a revaluation within one year, 50% of the applicable fee will be charged, subject to a minimum fee of USD 225,- incl. ABB.

2. If the assignment extends beyond a valuation assignment, an additional fee for these further services will be agreed between the parties based on the applicable hourly rate of USD 206,70,- incl. ABB.
   An assignment is considered to extend beyond a standard valuation assignment if, among other things, the property must be described or measured in detail, market data must be presented and analyzed, the valuation opinion requires further explanation, the determined value must be substantiated using one or more valuation methods or in relation to a renovation, or considerations must be provided regarding various potential uses or future expectations.

Commercial real estate valuation fees

Valuation of the market value, forced sale value and/or reinstatement value:

-	up to USD 450.000,-	:	0,2% with a minimum of USD 609,50, incl. ABB *
-	from USD 450.000,- to USD 2.250.000,-	:	USD 964,60 + 0.175% on the amount exceeding USD 450.000,-, incl. ABB *
-	from USD 2.250.000,- to USD 4.550.000,-	:	USD 4.324,80 + 0,15% on the amount exceeding USD 2.250.000,-, incl. ABB *
-	USD 4.550.000,- and above	:	USD 7.939,40 + 0,125% on the amount exceeding USD 4.550.000.-, incl. ABB *

For the valuation of rental value, the fee is calculated based on the appraised annual rental value:

-	up to USD 45.000,-	:	2% with a minimum of USD 575,-, excl. ABB *
-	from USD 45.000,- to USD 225.000,-	:	USD 964,60 + 1,75% on the amount exceeding USD 45.000,-, incl. ABB *
-	from USD 225.000,- to USD 455.000,-	:	USD 4.324,80 + 1,5% on the amount exceeding USD 225.000,-, incl. ABB *
-	USD 455.000,- and above	:	USD 7.939,40 + 1,25% on the amount exceeding USD 455.000.-, incl. ABB *

*Costs for required cadastral information and/or cadastral maps will be charged by the appraiser to the client and are not included in the fee.

1. For a revaluation within one year, 50% of the applicable fee will be charged, subject to a minimum fee of USD 609,50,- incl. ABB.

2. When valuing an ownership interest in a property, the fee is calculated based on the appraised value of the property as a whole.

3. The fee is charged per lot. However, if multiple lots form a single complex, or can be regarded as such due to their location in relation to one another, they will be treated as a single lot for the purpose of calculating the fee.

4. If the assignment concerns more than one type of value, or if determining the requested valuation requires other types of value to be assessed and these assessments are included in the report, the fee will be calculated according to the highest outcome of the fee calculations for the different types of value. The reinstatement value is excluded from this calculation.

5. If an assignment is withdrawn before it has been completed, a fee of USD 450,50 incl. ABB is payable for work already carried out.

6. If the assignment extends beyond a valuation assignment, an additional fee for these further services will be agreed between the parties based on the applicable hourly rate of USD 206,70,- incl. ABB.
   An assignment is considered to extend beyond a standard valuation assignment if, among other things, the property must be described or measured in detail, market data must be presented and analyzed, the valuation opinion requires further explanation, the determined value must be substantiated using one or more valuation methods or in relation to a renovation, or considerations must be provided regarding various potential uses or future expectations.

Contact us or choose the appraiser you already know from our team.

info@sunbeltbonaire.com | +599 717 6560