A Property Valuation should always be the first place you start before deciding whether or not selling right now is your best option.
In this blog article we’ll list the big 5 reasons why should get a professional real estate agent to value your home’s current market value.
The property valuation is the property or real estate agents’ best educated guess on the value of your property in today’s market, if you were to sell it.
A property report can also help you figure out whether or not selling now is your best option. If you want to sell but are wondering why it isn’t selling fast enough, there are generally only 2 reasons why this is happening: the first being it’s over-priced for the current market and the second is the market appeal is simply not high enough.
Remember that a market-based valuation is not the same as a valuation a professional valuator performs on behalf of insurance companies and banks – these are used in property insurance to determine replacement values should your home be completely destroyed and need to be rebuilt as current market costs.
A real estate agent’s valuation is based on market demand determined by previous sales of similar properties in your area and current properties on the market.
Buyers purchase by comparing apples with apples, which is why the price you list at needs to be spot on from the very beginning if you want to sell in the shortest amount of time.
After all, a property valuation gives you a benchmark for all of your property value and marketability questions and puts an end to the guessing.
Without a property valuation, you risk getting a low-ball offer on your property or being unprepared to put it up for sale at all. You could also list too high and have no offers.
These property value estimates are property specific as every property has unique features that contribute toward its overall value, as well as marketability factors such as unique features, upgrades and general aesthetic attractions.
Why you need a property valuation
- A property valuation is a snapshot of your home’s current market value
- A property valuation can help you determine the best time to sell your home
- It will help you make sure that your asking price is fair and competitive with similar homes for sale in the area
- You’ll be able to see how much equity you have in your house, which could come in handy when it comes to refinancing or paying off a bond
- A property valuation will make the selling process smoother from beginning to end by giving you a competitive price to list at.
It’s not an offer, but rather a statement of fact, which can provide you with information to make better property transactions or decisions. With access to this detailed information and data, you’ll be able to prepare yourself and your property for sale, as well as get a clearer picture of what equity you’ll have available should you need to purchase a new property.
To find out what’s involved in obtaining your no obligation valuation, use our contact form here to claim yours today. Remember, the value of a home is determined by what a willing buyer is prepared to pay for your property – even though it does consider your home’s unique features.
With the insights of our neighbourhood experts, and leveraging off their years of experience, we can give you an accurate picture of your property’s value. We can then assist you with the entire selling process from listing and marketing, to deal negotiation and transfer.