Normally, the first question that comes up when a vendor decides to sell their property is:
What price can I achieve?
When this question arises, most property owners will have an idea on the value of their property or might happen to know what a neighbour´s house has sold for. Knowing prices of properties sold in your area are always good references and professional evaluators will take this into account when estimating the value of your home.
On the other hand, you may easily find out what prices are being asked for similar properties in your area or in other locations that are comparable to yours. All of these considerations are useful in determining the price you may request for your property.
If you decide to use the services of a real estate company, you will want to know what they think of your property and have them assess its value. Most likely the agent will apply the criteria mentioned above.
By using a comparative market analysis, the real estate agent should be able to provide an exact market value of your property. An experienced real estate agent should be able to bring up examples of comparable properties which may be offered for sale or which have been sold lately.
If the difference between the agent´s market value and your market value is great, at Sur Estates, we always recommend obtaining an official valuation from an independent property valuation firm like Tinsa, for instance.
Please bear in mind that when you decide which price you want to achieve for the sale of your property, you should include the lawyer´s fee, the agent´s fee, as well as some room to allow you to consider an offer.
Before you establish your asking price, you should consider any other pending costs attached to the property. For instance, if you have a mortgage on your home, it is always recommended to contact your bank manager to check the outstanding amount and if there are any cancellations penalties attached to it. All of these figures should be taken into account when you decide to establish the asking price and before you place your property on the market.
If you wish to have more information on our procedure to achieve the correct property valuation and how Sur Estates can help you sell your property today, please read more information on our selling section or contact us today.
