{"id":4776,"date":"2017-05-31T00:00:49","date_gmt":"2017-05-31T00:00:49","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/how-to-get-an-accurate-valuation-of-your-house\/"},"modified":"2020-08-06T16:09:42","modified_gmt":"2020-08-06T16:09:42","slug":"how-to-get-an-accurate-valuation-of-your-house","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/how-to-get-an-accurate-valuation-of-your-house\/","title":{"rendered":"How to get an accurate valuation of your house"},"content":{"rendered":"

When the time comes to sell your house, the logical first step is to figure out what it\u2019s worth.<\/strong><\/p>\n

\n

The market will determine the eventual sale price, of course, but you need an accurate and realistic price expectation in order to take the property to those buyers.<\/p>\n

When getting an accurate valuation of your house<\/strong>, there are some important things worth considering.<\/p>\n

How much is my house worth?<\/h2>\n

Property prices are all based on opinion \u2013 people will pay what they think a property is worth in the current market.<\/p>\n

So don\u2019t limit your potential sale price to the opinion of just one agent, who may or may not have the best insight into your home\u2019s true value.<\/p>\n

Ian Reid Vendor Advocates director Ben Reid says agents often have wildly varying ideas about a property\u2019s value, so it\u2019s important to seek multiple estimates.<\/p>\n

\n
\"valuation
valuation of your house<\/figcaption><\/figure>\n

It\u2019s important to seek a number of opinions from different agents when valuing your home. Picture: Kate Griffin<\/p>\n<\/div>\n

\u201cIt\u2019s amazing the differences when we call in three different agents,\u201d Reid says.<\/p>\n

\u201cEven on a property that you\u2019d think would be quite simple to give a value estimate on \u2013 a $600,000 property in Dandenong, for example \u2013 we can have opinions as low as $520,000 and as high as $670,000. There can legitimately be $150,000 between what are meant to be the three top real estate<\/a> professionals (in the area).\u201d<\/p>\n

\u201cWe would get two or three of the best local agents to have a look at the property and we\u2019d ask them to give us an opinion of what they think it\u2019s worth and justify it, based on comparable sales.\u201d the valuation of your house is very important here to get the current price in the market.<\/p>\n

You could also research recent sales of similar properties in your area on realestate.com.au\/invest.<\/p>\n

How much does a property valuation cost?<\/h2>\n

Really valuation of your house,\u00a0 having a licensed, independent valuer assess your property\u2019s value will cost you around $300, and it might be some of the best money you spend.<\/p>\n

Reid says agents may inflate their estimates in order to secure your business, so having the property assessed by a licensed valuer is the best way to determine who\u2019s on the money.<\/p>\n

\u201cThe agent who tells you the lowest price is often the one that misses out on the business, so it\u2019s a really fine line for real estate agents<\/a> when they\u2019re putting forward their comparable sales and they\u2019re telling the vendor what they think the property\u2019s worth,\u201d he says.<\/p>\n

\u201cA valuer\u2019s job is to come through and, based on comparable sales and where the market\u2019s at, give an accurate estimate.\u201d<\/p>\n

\u201cThey don\u2019t care whether the property\u2019s worth $500,000, $550,000, $600,000 \u2013 they\u2019re just there to give us an unbiased, accurate view on what it\u2019s worth,\u201d he says.<\/p>\n

\n

\"Auction\"<\/p>\n

Make sure you educate yourself on recent sold prices. Picture: Kate Griffin<\/p>\n<\/div>\n

Educate yourself<\/h2>\n

Don\u2019t blindly enter into the process. \u00a0Knowing and researching your own local property market will go a long way to ensuring you are able to make informed decisions throughout the entire campaign.<\/p>\n

\u201cInformation is key to making sure you\u2019re not going into it ill-informed and not relying on the opinion of just one person,\u201d Reid says.<\/p>\n

\u201cEven within the best agents, there can be a varying of opinions.\u201d<\/p>\n

Hire a vendor advocate<\/h2>\n

A vendor advocate will do much of the heavy lifting for you \u2013 it\u2019s their job to represent your interests when dealing with agents, and help steer you through the valuation of your house .<\/p>\n

Reid says they\u2019ll approach two or three of the best local agents, as well as an independent valuer, to determine a likely price range for your home, and then present that information to you to help you make your decisions.<\/p>\n

Realestate au<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

When the time comes to sell your house, the logical first step is to figure out … How to get an accurate valuation of your house<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4777,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[695,4751,1403,516,205,561,12908,543,617,1157,1160,41,1152,1153,1159,1163,1161,140,1162,1158,1156,1155,1154,818,84,385,513,116,1164,17],"class_list":["post-4776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-agent","tag-amazing","tag-buy","tag-estate-agen","tag-estate-agent","tag-estate-agents","tag-home","tag-home-buying-guide","tag-house","tag-how-much-property-tax","tag-how-property-taxes","tag-property","tag-property-investment","tag-property-ireland","tag-property-kinsale","tag-property-law-property-insurance","tag-property-lawyer","tag-property-market","tag-property-near-me-for-rent","tag-property-near-me-for-sale","tag-property-uk","tag-property-valuation","tag-property-valuer","tag-real","tag-real-estate","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-investment","tag-valuation-of-your-house","tag-vendor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/auction-body2-1024x768.jpg?fit=1024%2C768&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=4776"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/4777"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=4776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=4776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=4776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}