Valuation

Important things to do Before a Pre-Sale Property Valuation

3D render of a Graph Depicting Declining Property Prices

Property valuation is the first thing you must do before putting your property up for sale on the property market. This is because you need to establish how much you are likely to sell the property for.

Although estate agents will offer you a free valuation service, they are not mandated by law to do so hence, you will need to get professional estimates from reputable property surveyors. Before then, there are things the you can do to get the most of the valuation. They include the following:

  • Research

Before approaching estate agents to do a valuation of your property, you need to carry out an independent investigation on property portals with your focus being the sale prices of similar properties that have sold recently within your location. This gives you an idea of what you should expect from the valuation as well as how much you can sell your property for once you put it up for sale.

  • Shop for a few Valuations

It is advisable to get a number of valuations before choosing an estate agent that you will work with. Even then, you need to keep in mind that some estate agents may over value your property just to ensure that you get to work with them.

Therefore, you need to ensure that you put them to task to justify the valuation they give. Remember, if you have done your independent research you will be able to tell if the agent is overvaluing your property. Ultimately, go for an estate agent you trust and is active in the local market.

  • Clear the clutter

Giving your property a good spring clean will definitely make a difference in the appeal of your property. Getting rid of clutter and tidying will give the property valuer to see the real value of the property. In addition, it also gives the best first impression of the worth of the property.

  • Fix the exterior of the property

In most cases, attention is paid to the interior of the property while neglecting the exterior. They forget that prospective buyers get the first impression from the first glance at the property. Thus, ensure that the outside areas are kept tidy and clean ahead of best valuation.

  • Prepare, prepare, prepare

You need to come up with a list of questions that you would like the estate agent valuer to respond to before visiting your property. If there are any improvements or alterations that you have made on the property, be sure to inform the valuer. Remember, valuers will also look at the historical prices that you acquired the property for before coming up with the actual value.

  • Get to know what the agent will do

It is not unusual for estate agents to offer you differing amounts. Thus, you need to clarify what the agent will do in terms of marketing your property as well as how the marketing package increases exposure to prospective buyers. If possible, have this in writing while capturing all the costs of selling. This way, you are able to compare with other valuations before picking the best.

  • Showcase your property

Ensure that you let the valuer have an accurate look of your property. This is not to say that you attempt selling the property to the valuer rather, ensure that they have an objective view of the property and how much it can sell for on the property market.

  • Allow adequate time

It is important to allocate adequate time for the valuer to carry out the valuation. Recognize that each agent is different, so ensure that all bases are covered before taking a plunge.

  • Be realistic

Although you may want a high valuation for your property, the valuer is responsible for giving you the most accurate estimate of how much your property is worth in the property market. If you are not in agreement with the valuation, you can have the agent explain the rationale or offer you comparable data to justify.

Generally, you have a responsibility to prepare adequately ahead of the valuation of your property. This way, you will ensure that you get an accurate valuation for your property before putting it on the property market.