How to find out the value of your property

A valuation of your property is required by a financial institution before they can advance funds. This written valuation is prepared by a professional third party independent valuer. The most common report is a short form valuation. As its name suggests it is a short valuation that gives you the value of your property. This valuation is based on the history of property sales similar to yours in the local area. There is also a long form valuation, which is more extensive in detail on the description of the property, however it is more expensive.

If you decide that a valuation is not within your budget, it is worthwhile to purchase a report from www.homepriceguide.com.au for your area. You should attend other open homes and look for other properties in your area and see what price they are selling for. It is important to gauge whether your property has similar or additional features.

The most important thing to remember is that your property is only worth what another person is willing to pay. There are three main reasons that houses don't sell, they are:

:: 1 Bad floor plan

:: 2 Structural default

:: 3 Price

Therefore it is important to make sure that the pricing of your property is within the market's expectations. Be sure not to appoint an agent who simply names the highest price. Good agents will spend the time on developing a current market analysis, where they gain information on properties that have recently sold in the area, which will give you a logical approach to deciding on the marketing price for your property.

If you would like Wesellrealestate.com.au to give you an indication on the pricing of your home please Email us.

PrintEmail Page