One of the first questions in a pending sale is: How much is my property worth?
To get a successful sale, you need to know the current value of any house or property of yours. To get the best value assessment, there are a few steps you can take:
With a property is under appraisal, prices can suffer fluctuations, so it’s key that a price is not settled prematurely. If a price is too low, you can suffer tremendous losses, around thousands of euros. If the price is too high, too unreachable, you may loose potential leads previously interested in acquiring the property.
The value of a property depends on its location, quality and features.
All these factors can contribute to a change in the property evaluation or a potential price negotiation at the time of a sale.
The price can also change, depending on the goal of the potential buyer. A potential owner looking to buy a house with the goal of living in it, will most probably be looking for an empty house. A potential investor might be more interested in a rental property. All in all, a price can increase up to 30% depending on the buyer’s goal.
Renovations take a big role in influencing the definition of a property’s price. To define the price of a property, you must consider all the renovation costs you have had, as well those the buyer will have:
A potential buyer will consider these costs in their price assessment. So, when performing a property appraisal, we should also take those into consideration.
To achieve that goal, we don’t rely on intuition, instead using established software tools to set the price. This type of software tool is only available for commercial use. When it comes to our clients, we use the software as a service included in the context of real estate research.
A professional evaluation of your property includes, in addition to establishing the appropriate price:
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