Understanding Property Valuations: 3 Things You Can Do Before a Valuation

Property Valuations

Property ValuationsIf you’re thinking of selling off your home, you are most likely interested in knowing how much it’s really worth. Property valuation is normally carried out by an independent valuer who has no stake in the property being valued. A valuer will only charge a fee for his/her services.

Generally, property valuations in Brisbane, can be conducted for all kinds of property and for various reasons. In courts, a valuation certificate can act as a legal document that can be used in cases of litigation and mediation. Lenders also recognise it as a risk management tool. However, valuations are commonly used by people to determine the market value before buying or when they want to sell their property.

Although there are people out there offering free services, it’s essential to hire a professional valuer to ensure that you’re getting the accurate information at an affordable price. Here are some things you need to do to get the most out of valuation.

Do Your Research

It is common to have a certain expectation of what your property is valued at. However, if the valuer gives it a lower price, you may end up disappointed. Talk to sales agents around your area and find out what they sold the property for. The property should be similar to yours in terms of age, renovations, size and bedrooms.

Be cautious of real estate agents who overvalue your property as a way of trying to win you over. Choose an experienced agent with a good track record and one you trust.

Prepare in Advance

Before the valuer comes, it’s important to have a list of questions you may want to ask. If you’ve made a few renovations, inform your valuer of what exactly has been altered or improved. A valuer looks at the price you bought the property for and taking into considerations the improvement the house has gone through will help him come up with the right value.

Clean Up

Tidying up and cleaning can make a huge difference when it comes to valuation. Presenting the best impression of the property gives the valuer a better perspective of what the value of your property really is.

While everyone want to get the highest valuation for their property, it’s critical to be realistic with your expectations. Remember that it’s the valuer’s job to give you the correct price in the market based on prevailing market conditions.

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