If you are looking to sell or let out your property and have contacted estate agents, chances are the first thing you are offered is a full property valuation. But how do agents determine the price of your property?
The main aspects used to determine the price are the location, the size and comparable local prices. These however, are not the only aspects and there will be other factors considered too.
These include the standard of any fittings, the condition the property is in and any extras that you have added to the property – such as a conservatory, and what standard that was completed too.
Whilst technology comes in handy with valuations, there are also aspects to a valuation that come from having an experienced valuer in your property. The general scope for investment could see your property fetch more than thought and likewise understanding how the market is and how quickly properties are being snapped up can also help your agent to make an accurate valuation.
During a valuation you will also likely be asked how quickly you would like the property sold. Having a unique property that could fetch a good price from a niche market is great, but if you are hoping to move quickly, a lower price to appeal to a more mainstream audience may be in order.
The experience and expertise of a local agent can also give you information on how to increase the saleability of your property and whether doing work before beginning marketing would be worth it or not.
Ultimately there are lots of factors being considered when your property is being valued to ensure you are given an accurate price but an experienced valuer should be able to spot the potential in a home far beyond what an online valuation tool can achieve.
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