Factors to Consider During Property Valuation

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Factors to Consider During Property Valuation

  • August 22, 2016
  • By Admin: Frovenses
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Whether you are looking to move or you are just interested in knowing the current worth of your property, you can always opt for free property valuation. There are numerous estate agencies that offer property valuation tools online while others are willing to provide a no obligation property valuation at no cost.

Free property valuation is important when you are looking to achieve the best price possible for your property. Even then, it is important to keep in mind that buyers and even quick house sale companies will put their interests first thus you will do well to ensure that a comprehensive property valuation is done by experienced professionals and the report is admissible as an official document.

Things to consider during property valuation

There are a number of factors that need to be taken into consideration when conducting property valuation. They include the following:

  • The current state of your property in terms of finishing.
  • The location of the property with regard to the proximity to social amenities and schools as well as presence of transport links.
  • To total area of the property and the grounds on which the property stands.
  • The prices of recently sold properties within the same locality as yours.
  • A comparison of properties that are currently on sale within a quarter of a mile from the location of your property.
  • The prevailing demand and supply forces for this kind of property.
  • General economic conditions
  • The potential of value addition like development, extensions as well as refurbish among others.

Overall, property valuation is complex as it takes into account multiple factors that affect the price of the property either positively or negatively. Thus you must be sure to ask the property valuator questions on how these factors have influenced the final price that they would have arrived at before consenting to a sale.