Putting a price on your properties and estate is important. If you made a mistake and price your property below its original value, there is a tendency that you will lose an enormous amount of money when you made a sale.
Which is why it is a must that you get a residential property valuation that would provide you with a close estimated value of your property. But before you commence with the valuation process, it is a must for you to prepare your property to get the best possible value for it. Here’s what you need to do:
- Do a major cleaning and home repair
An old and grubby-looking house will definitely sold at a very low rate. Of course, you don’t want that to happen. Before you proceed with the valuation, it would be best to do a major home renovation to fix damages that might hurt that value of your home. Doing home repairs and replacements would help make the property look good as new and increase its value in the market. So start cleaning the space and contact your contractors for repairs.
If you are keen on knowing the real value of your property, you can start with looking around listing and see how much is the pricing for residential housing that is similar to yours in terms of features and look. This will give you a general idea on how much your home is worth based on other properties. This will serve as your reference when you consult with a professional.
- Go to a professional
Some homeowners are quite adamant about hiring a valuation professional to do an assessment. But doing the property valuation yourself is not recommended. There might be instances that you will overprice and undervalue your property. Property valuation professionals can provide proper a Pre Handover Inspection to ensure that the property is evaluated correctly based on different factors and is in good condition before it is turned over to the new owner.
- List down your questions
If you decide to get the services of a valuation firm, you need to list down all the questions you have to ensure that they are addressed properly. Valuation is a science itself and goes through a certain process. The numbers the valuation officer will give might be different from what you expect. Be sure to ask how they came up with such numbers.