Valuing Your Property - The Market Appraisal
Whether you are looking to sell or rent out your home a market appraisal is the first step to putting your property on the market.
Market Appraisal vs Valuation
Sometimes, particularly when selling a property, there is a bit of confusion as to the difference between a market appraisal and a valuation. A valuation is a formal valuation of your home by a professional surveyor. There is usual a charge for this service and the information produced can be used in legal proceedings such as divorce or probate, or as part of the mortgage application process. Whereas a market appraisal is where an estate agents assesses your property and values it for the purposes of creating a guide price for sale or to let.
The Benefits
A market appraisal is a good way to discover what is happening in your local market and understand the true value of your property and your position. When in possession of all the facts relating to your largest asset and the local economic environment you are able to make wiser decisions as to your next step and therefore future financial wellbeing.
How much is my home worth? How much rent could I get?
Estate agents are used to answering these questions and refer to several factors when formulating an answer. Similar properties in the local area which have sold or have been rented out, nearby properties currently on the market, wider market trends, current competition, local demand and the property’s condition are all factors considered during a market appraisal, and which contribute to the agent forming a view of the value of your home.
Free Market Appraisal
Due to the cost and time involved in a full valuation most sellers will opt for an estate agent to carry out a market appraisal when they decide to put their property on the market. Bradshaws offers a free, no obligation, market appraisal service, applying the thorough local knowledge and insight at their disposal to form a realistic and achievable valuation of your property. As part of this process Bradshaws will offer thoughts and advice on how best to market the property and actions which can be taken to attract buyers & renters and achieve the desired price, such as de-cluttering, redecoration or garden tidying.