Depending on which side of the coin that you are operating from, you could be needing to sell your property or maybe you want to buy one. In both of these cases, you really do need to know the value of the property that you are dealing with and so you need to talk to the right people to make sure that they can give you a realistic valuation based on current market values. What they will do is they will create a report of the value of your property based on where it is located, the condition that it is in and many other factors. You need to remember however that the market fluctuates from time to time and people can buy based on their hearts and on their minds.
To get a proper idea of valuation, you need to contact the people at propertypricer.com.au so that you know what price to offer if you are buying and what price to display if you are selling. There are many reasons why someone want might to have their property properly valued and it could be to make sure that you are competitive in the market if you are selling or that you want to pay only the market rate if you are buying. If you’re still not sold on the benefits of a property valuation for what could be one of your biggest investments, then the following can help to enlighten you.
- If a buyer or seller – It seems common sense that if you are buying a property that you want to know exactly what the market value is because you don’t want to be paying too much money for your first property and getting caught up in a selling scam. If you are the seller, you really don’t want to price yourself out of the market because if there are other properties similar to yours and the seller is looking for less money, then it is logical that your property will be on the market for a longer and it may not even sell at all.
- Maybe you want to rent – You may be buying the property to later fitted out to a young family and so this is why it is incredibly important that you get a proper valuation of what it is worth so that you can work out how much rent has to be paid on it every single month. The others who want to be able to cover your mortgage payments and also to have a little bit left over to make ongoing improvements to the property.
- To get a mortgage – Your mortgage lender will want to know exactly what the market value of the property is before they will even entertain the thought of lending you the money to purchase it. They need to have collateral to back up the money that they are lending you and so they don’t want to give you more than what the property is worth. In the unlikely event that you default on your payments then they will be left with a property that is worth less than the total money that they give to you.
It makes perfect sense then that before you sign on the dotted line to purchase a property or sell it, you need to make sure that you know exactly what the property is worth.