You’ve lived in your single family home for years. But recently, your family’s grown. You need more space and decide to sell your house.
But between the agents, the banks, and ever-changing market trends you may find yourself asking “where do I begin?”
The answer is with a property valuation report.
A property valuation report estimates the worth of your home both in the current market and over the long haul.
Read on to see why you should always get one.
It Helps You Know Where You Stand
As the house’s previous owner, you’re naturally going to be biased toward its worth, not just in terms of price, but also emotional value.
A property valuation eliminates this bias. It provides you with an objective analysis based on a series of factors, some of which include:
- House Size
- Number of Rooms
- Structural Conditions
- Building Presentation
- Other Sales in the Area
By taking these parameters into account, a property valuation will show you how your home ranks in the current market.
With this information, you can then make improvements to your home, possibly increasing its value.
It Helps You Set the Price
Finding the right asking price is trickier than the devil in a poker game.
Set it too high, no one will buy. Set it too low, you could lose money. So how do you find that happy medium?
Simple, a property valuation report.
It will give you a numeric value for your home. You can then adjust that number higher or lower to determine your price.
It Helps You Find the Right Buyer
Once you know where you stand in the market and what your price is, it’s time to look for a buyer.
Buyers look at valuation reports too. If your property has a high value, you can expect a high volume of potential customers.
With that volume comes competition, one that you’ll win every time regardless of who buys your house.
Buyers want to get the most for their money.
If they read in the valuation report that your house has high value at a reasonable price, they will trip over themselves trying to get it, often offering above your original number.
How Can I Get a Property Valuation Report?
Typically, a licensed professional will have to visit your home.
He or she will take photos of the house and note its physical characteristics, such as land size, vehicle access, and zoning.
After that, the valuer will type up their findings and give you a number based on the data.
A property valuation isn’t the same as a real estate appraisal.
Most real estate appraisals serve the agency and act to gain your listing. Often, they base their numbers on sales in the area and the individual agent’s experience.
Professional property valuers, however, are legally obligated to report the facts. Though they usually work for lenders, a professional valuer’s information is objective.
Ready to get started selling your home? We here at Clockwork Property Management would love to help.
Contact us today and check out our blog for more great property tips.