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Why an accurate property valuation is crucial

Why an accurate property valuation is crucial

Written by: Category: News, Selling March 4, 2018

accurate property valuation

No matter what you are trying to do, accurate information can help you to achieve better results. When parties involved with any process have accurate information, it is most certainly easier to make an informed decision and minimises risks and any potential problems. This is certainly the case within the property market. If you are looking to sell a home, obtaining an ACCURATE PROPERTY VALUATION is vital in concluding a successful stress free sale.

There are actually a number of reasons why having an accurate property valuation is important:

  • You want to insure your property and need to obtain an accurate valuation
  • You are looking to switch mortgages
  • You are considering a refinancing solution
  • You are keen to know the value of your investment

All of the above reasons are important but by far the most common reason to obtain an accurate property valuation is to assist with price your property when looking to sell. If you are taking steps to sell your home, possessing an accurate property valuation provides you with a good starting point in your search for your next property.

An accurate valuation is the ideal starting point

You can’t really focus on buying property until you venture into selling your property and an accurate valuation is the ideal starting point. If you don’t know the value for your property, you run the risk of overpricing or under-pricing the property. Under-pricing the property can help you to sell the property quickly but you will lose out on money and this may hamper your ability to purchase your next home.

If you overprice the property, you will likely find that buyers hold no interest in your home. In fact, if your property is overpriced, you may find that this pushes up the level of demand and interest in other homes in your area if they are accurately priced. There is a need to consider the market when you price your home. This isn’t to say that your home cannot be more expensive than the average home price in the area but if you are asking more for your home, you need be in a position to justify the increased asking price.

Save time and money with an accurate property valuation

There is also the fact that an accurate price can save a lot of time and money. There will be much less negotiating or people reviewing your property in comparison with other properties if you price your home accurately. Selling your home can be a frustrating process so being able to minimise the frustration is a positive step to take, which is why you need an accurate property valuation.

Another factor to consider when valuing your home is that the buyer will have your house surveyed. If the buyer is provided with a valuation that is much lower than the provided valuation, the lender may feel that the stated price doesn’t provide value for money and the mortgage offer may be removed. This could lead to you missing out on a sale, so it is always best to offer an accurate property valuation.

When it comes to selling property, there is a great deal to be said for obtaining advice and guidance from a local estate agent. If you want to sell your home in confidence, rely on us to give you the support and guidance you need.

Are you currently selling or renting your home?

Do you want an honest estate agent who will market your property with enthusiasm and work hard to find a buyer or tenant for you?

You need to talk to VitalSpace Estate Agents

Click the link below for a FREE no obligation appointment and one of our Directors will visit your property to see how we can help get you moving.

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