Partner Article

5 Property Valuation Do’s And Don’ts

Knowing the estimated value of a property is crucial for various purposes, which includes real estate financing, analysis of investment, taxation, listing real estate for sale and so on and so forth. It is also one of the determining factors, which is used at the time of buying a property.

The value of a property is not just the price to be paid to the vendor but the overall worth. Assessed by a well-qualified valuer, it can help you buy, sell or resell your property without getting duped.

A property valuation is a legally binding document and it is immensely useful to settle disputes.

Let’s take a look at some of the do’s and don’ts of property valuation to get a better perspective.

• Do prep up your property: Before you opt for property valuation, prep it up in the best way possible. The property should look well-presented with signs of regular maintenance. A well-maintained property will definitely make the mark since clean up costs are often taken into account. The extra money you spend in prepping your property will definitely be worth the efforts as your property will be highly valued.

• Don’t mix up valuation with appraisal: Property valuation and appraisal are two very different things even though they both help establish the market value of a property. While valuation is a formal report by an accredited valuer, an appraisal is informal and submitted by an estate agent. Valuation is legally binding document but appraisal isn’t. Therefore, hire a reputed valuer, who can submit a complete valuation report for your property.

• Do oversee the valuation process: At the time of your property valuation, take the initiative to oversee the entire process. This doesn’t mean that you have to interfere with the valuation proceedings. Just help the valuer see the special features in your property, which they might happen to miss.

• Don’t spend too much money and efforts: In the wake of a property evaluation in Lowton, Golborne and Leigh, don’t get way too enthusiastic and spend too much money and efforts. Only do what is necessary for a good evaluation report. For instance, if you might want to add another bathroom or an extra room to make the property look more appealing. Similarly, if you have a sprawling garden, then make it a point to hire a gardener for its upkeep before the valuation takes place.

• Do your own research: It is always a good idea to take a look at recent property sales in your area. Do this for the properties that are similar to your own and get an estimate. You might also want to get the information of accredited valuer as well and this step will help you do the same.

Get the best property valuation in Lowton, Golborne and Leigh by hiring the services of Property Maximise Lettings and Management.

This was posted in Bdaily's Members' News section by stephen smith .