Understanding The Difference Between Market Value And Appraised Value

How To Prepare For A Property Valuation

The valuation of property helps homeowners determine the fair price for their property which is essential for successful negotiations with potential buyers or lenders. However, preparing for a property valuation can be a daunting task especially if you’re not familiar with the process. In this article, we’ll provide you with a comprehensive guide on how to prepare for a property valuation and ensure that you get the best possible offer from property valuers.

Clean and Declutter Your Property

The first step in preparing for a property valuation is to clean and declutter your property. This will help you create a good first impression and showcase your property’s best features. Make sure your property is well-maintained and all repairs are completed before the valuation. Remove any clutter or unnecessary items that could distract the valuer from the property’s main features.

Know Your Property’s Unique Selling Points

Every property has unique selling points that make it stand out from other properties. Knowing your property’s unique selling points can help you highlight them during the valuation. For instance, if your property has a spacious backyard or a stunning view make sure you mention it to the valuer. This will help them understand why your property is worth more than others in the area.

Research Comparable Properties in the Area

One of the most important factors that valuers consider when valuing a property is comparable sales in the area. Comparable properties are properties that are similar in size, age and location to yours. Researching comparable properties in the area will give you an idea of how much your property is worth.

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Provide Documentation and Information

During the valuation, the valuer will ask you for documentation and information about your property. This may include property titles, building plans, and council rates notices. Make sure you have all the necessary documents and information ready beforehand as this will help speed up the valuation process and ensure that the property valuers have all the information they need to make an accurate valuation.

Make Necessary Repairs and Upgrades

Before the valuation, it’s essential to make any necessary repairs and upgrades to your property, this will help increase the value of your property and make it more attractive to potential buyers or lenders. Consider fixing any broken, fixtures repainting walls, and upgrading appliances if necessary.

Be Honest About Your Property’s Condition

During the valuation, it’s important to be honest about your property’s condition. If your property has any defects or issues make sure you disclose them to the valuer. Trying to hide any issues can lead to an inaccurate valuation and cause problems down the line. Honesty is always the best policy when it comes to property valuations.

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