Valuing property and real estate
When it comes time to selling your home it only makes sense that you get maximum price possible for your investment. There are a number of professional services and property valuation services at your disposal when it comes to this task but you can still aid the process by providing valuable and accurate information to the service you choose to use.
There are a range of factors that effect the potential valuation of your property, some of these include the demand for the type of property that you own in your area and the available supply as well as the speed at which you wish to sell your property. Never admit to being in a hurry to sell the property as this will often lead to a lower valuation price.
Another thing that it is essential that you do is to get a copy of your municipal and council taxes. These vary greatly from location to location but there will generally be a "Site Value" or "Unimproved Land" value. This reflects the value of the land only. Occasionally this will also include an "Improved Value" which gives a value based on the land and the structure.
You must keep tabs on sales in your area by attending auctions nearby. Whether it's an auction or a private sale, hold on to the sales brochure when you attend the open home so that your valuer will be able to track down the agent to confirm the selling price.
Another good indication of the value of your home is recently sold property in the area that is very similar to the property you wish to sell. It is advisable to have this information for the property valuer.
It is also advisable to get more than one valuation. Ask two or more agent to come and value the property. Then ask for two figure, an estimated sale price of what they think it will actually sell for and an asking price at which the property will be placed on the market at.
Questions and Answers
Placing a value on a property can be tricky; here are a few tips that could help out.
How to get the maximum price for your property
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