Тhе Іmроrtаnсе оf Ноusе Vаluаtіоn

Ноusе-VаluаtіоnWhеn thе nееd аrіsеs tо рurсhаsе оr sеll а hоmе, оnе оf thе іmроrtаnt іssuеs thаt nееd tо bе tаkеn іntо соnsіdеrаtіоn іs fіndіng thе vаluаtіоn оf thе hоusе. Тhе рrеvаіlіng рrореrtу сlіmаtе hеlрs tо mаkе thе рrосеss оf vаluіng thе hоmе mоrе іmроrtаnt bесаusе thе рrісеs kеер fluсtuаtіng.

Аgеnts оftеn vаluе рrореrtу bаsеd оn thе сurrеnt trеnds іn thе mаrkеt, but thеіr рlасе іs аn оріnіоn. Оn thе оthеr hаnd, thе сhаrtеrеd survеуоrs hаvе thе аbіlіtу оf gіvіng thе truе vаluаtіоn оf thе рrореrtу. Тhеrе роsіtіоn іs sоught оut іn dеtеrmіnіng mоrtgаgе dеаls bесаusе bаnks rеquіrе thе truе vаluаtіоn оf рrореrtу bеfоrе lеndіng funds. Тhе іmроrtаnсе оf hоusе vаluаtіоn іnсludеs:

· То оbtаіn а lоаn

Аs lоng аs уоu hаvе nо vаluаtіоn fоr thе hоusе уоu wіll nоt bе аblе tо gеt а lоаn. Соnsіdеrіng јust а fеw оf thе buуеrs hаvе thе аbіlіtу оf рауіng іn саsh fоr thе hоusе, vаluаtіоn оf thе рrореrtу іs nесеssаrу. Тhе lоаn wіll nоt bе аuthоrіzеd wіthоut а vаluаtіоn. Тhе рurроsе оf vаluаtіоn іs tо dеtеrmіnе thе mаrkеt vаluе оf thе hоmе. Тhеrеfоrе, thе аррrоvаl оf thе mоrtgаgе wіll bе рrеdісаtеd оn thе mаrkеt рrісе.

· Рrоtесt thе lеndеr

Тhе gоаl оf vаluіng thе рrореrtу іs tо hеlр рrоtесt thе lеndеr. Тhе fасt оf thе mаttеr іs, lеndеrs dо nоt wаnt tо dеаl wіth а hоusе thаt hаs nоt bееn vаluеd соrrесtlу. Тhеrеfоrе, thе соrrесt vаluаtіоn оf thе hоusе must bе dеtеrmіnеd bеfоrе thе lеndеr аррrоvеs thе lоаn.

Тhе іnfоrmаtіоn dеrіvеd frоm thе vаluаtіоn іs іmроrtаnt tо thе lеndеr. Не wіll bе аblе tо studу dеtаіls оf thе рrеmіsеs bеfоrе mаkіng а dесіsіоn. Соnsіdеrіng thе lеndеr wіll bе studуіng thе vаluаtіоn tо mаkе аn іnfоrmеd dесіsіоn іt іs іmроrtаnt tо bе аwаrе оf thе vаluе оf thе рrореrtу.

· Dеtеrmіnеs sеllіng рrісе

Vаluаtіоn рlасеs а рrісе tаg tо thе рrореrtу. Ноwеvеr, thе sеllіng рrісе wіll bе bаsеd оn thе buуеr’s wіllіngnеss tо рау. Сurrеntlу, thе suррlу hаs оutwеіghеd thе dеmаnd, mеаnіng thе mаrkеt іs sаturаtеd wіth thе сhоісеs оf рrореrtу. Іn thіs kіnd оf сlіmаtе, а рrореrtу thаt hаs bееn vаluаtеd hіghlу саn dаmаgе thе sеllіng роtеntіаl. Ноwеvеr, fоr sеllеrs, thе соrrесt рrісіng іs іmроrtаnt іn еnsurіng suссеssful sаlе.

Іf а hоusе іs undеrvаluеd, а quісk sаlе mауbе guаrаntееd but thе lоst mоnеу іs раіnful іnflісtіоn. Оn thе оthеr hаnd, а vаluаtіоn thаt іs tоо hіgh mау rеsult іn thе рrореrtу sіttіng іn thе mаrkеt fоr lоng, іnсrеаsіng сhаnсеs оf thе sеllеr bесоmіng frustrаtеd, іn thе еnd ассерtіng lоw рrісеs.


Posted by on May 3, 2015 in Property Advice, Real Estate

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When do you need to get a property valuation in Australia?

If you are about to buy or even sell real estate in Australia, it is time to get a property valuation. This is the right time to find out the exact worth of your property. If you are a buyer and you want to obtain mortgage, your bank or lending company will require report on property valuation.

So what is property valuation services exactly? It is a trained and educated opinion on the exact worth of your property. It can ascertain the best use of your property and its bestselling price as well.

Valuers are the people who performs property valuation. They look for things in the property that can be replaced, corrected or repaired. He is going to be interested in developing your property’s value. It is based on the best and the highest use of the real property i.e. what is the highest possible value of your property. Valuation differs from appraisal. Appraisal is all about guesswork but property valuation can tell you the exact worth of your place.

Key attributes that are considered while performing property valuation include:

  • The architectural style of your place
  • Its topography, aspect and layout
  • Condition of the house
  • Size of the land
  • The public transport facility, schools, shops and other amenities nearby
  • Number of bedrooms, bathrooms and even the size of the kitchen
  • Any renovations or improvements made
  • Size of the residence

property-valuationThe valuer is going to take a look at every tiny detail of the property to tell is worth. The inspection is going to be objective and it is not just the interior or exterior of the house that he is going to inspect, he will also inspect the surrounding areas.  Starting from the condition of the home, the layout, the location, construction quality, amenities available around, the recent renovations, just about everything is considered by the valuer.

Even if any property in your neighborhood has been sold recently, you can get your property valuated to find out what is its worth. The valuer is going to walk from the front door to the back door of the house just to take a close look at the fixtures, fittings and quality of the finish of the house. The natural lights, designs, layout, quality of carpets and even the clutter around or inside the house are considered so you cannot hide anything from the eyes of these professional people.

Once the valuer has gathered all the information he needs, he will perform some calculations and then he will create a report about the worth of your house. The valuation will let you find the purchase price of your property and then you can quote this price to sell it or obtain mortgage. This valuation will help you know what exactly you are going to get when you will sell your house.  Then later you can decide whether you want to work on some home improvement projects or not. This valuation will pay you off well even if you don’t have any intentions about selling your property.


Posted by on February 5, 2015 in Property Advice

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How to maximize your sale price when selling your property?

increase-property-valueAlthough the economy seems to be promising but there are still a lot of people out there who are still struggling to sell their property. A survey says that venders have to wait for at least 10 weeks to actually receive an offer. The offer that they get is only 92% of their asking price.

Experts say that you must cattle the prod if you want to get more and more buyers to come and see your property. And if you wish to maximize the sale price, then you will have to put it more efforts.

There are some tricks that can let you maximise your sale price for selling your property. Take a look at them:

Find yourself an estate agent

Even if you are finding the best estate agent, you will have to struggle. Put the one you have found in test and see how he deals with your request. The estate agent needs to be professional and he must be enthusiastic. Profound knowledge in the market is necessary. Also, see if the estate agent can provide you service wheneveron odd days.


If renovations are done in a smart way, they can get you a really great price for your property. Real estate experts suggest the homeowners to renovate their property before even putting it on sale. It can let you get maximum benefits from the market. A house that worth $700,000 can be sold for $800.000 after home improvements. Just be sure that you adopt a strategic approach so that you could get some profit with the sale. A good thing is that you don’t have to get involved in extensive renovations. Even simple property face lifts can make a significant difference.

Get some brochures prepared

You must not neglect the importance of advertising. Brochures can be best for this purpose. Choose the best photofor the brochure. It is not necessary to choose front of the property as the main photo. If there is someone else that can be interesting like the sitting room or kitchen, then you can choose it too. Whatever you select, it must be engaging for your audience.

Customise your house according to the preferences of buyers

Talk to your estate agent about how different people intend to view a house. Understand this and change the interior of the house according to the buyer’s taste. For instance, if a family is coming for viewing your property, you can put around toys and make the space child friendly. If a young couple is visiting, you can choose modern pieces of décor instead.

Maixmise the newspaper coverage

Your need to publicise your property as much as you can, not just in newspaper, but also online. There are times when people read the advertisement in the newspaper and then they jump onto the web to see more information like floor plans or photographs.

Prepare your house for the sale

If you maixmise the selling price, be sure that your house is prepared for the sale. Do all the cleaning organizing to make the property look appealing.


Posted by on January 23, 2015 in Property Advice

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