Gaining a Home Valuation is a fundamental part of selling or buying. Naturally the buyers will want to receive a low valuation and sellers the exact opposite. As both parties approach the negotiation phase, it is important to have an unbiased valuation of the property to make sure that no party is particularly favoured. This will help both buyer and seller to achieve common ground.Ultimately a property is only worth what someone is willing to pay for it. A valuation however is still important, if only used to gain a ball park figure. A Home Valuation, whether carried out by an estate agent, a surveyor or by using an AVM (automatic valuation model) is only an estimate, it can be never be considered one hundred percent accurate due to the guesswork involved when arriving at a figure.All three, the agent, surveyor and AVM include the same processes when undertaking a Home Valuation. If the task is performed well and effectively an accurate estimate can be made, although once again it is only a rough guide as the willingness of a buyer to pay the price is the determining factor. The process is fundamentally a combination of art and science. A figure will always be arrived at after considering the following elements.Property condition is the primary factor in a valuation, if your property is of poor quality and literally falling apart at the seams, the estimate will most likely reflect this. In addition to the condition, upgrades or extensions will also be taken into account when estimating a price; the quality of the work and usability of extensions will also be considered. After these two finite qualities the art part of valuating comes into play; this is fundamentally factoring the current market conditions and the conditions of the sale. Overall these four primary factors to a valuation must recognise that all properties are unique so using a generic method may in some cases be inaccurate.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment