Buying a Property – Points to Consider Before Buying

property buying guide

What Is Property Valuation?

A Property Valuation or Property Valuation Report refers to a carefully conducted assessment of your valuable property/house/building’s market financial value. It takes into account multiple factors so that a genuine property valuation may be reached as close to the real value as possible. The multiple factors to be considered are property’s location, condition, residential or commercial, covered area, price trending parameter, the locality’s reputation and so on.

Normally, such a Property Valuation Report is prepared by a professional called Real Estate Surveyor or Property Valuation Surveyor. You can get these services by visiting any real estate dealing website. Upon contact, the website will refer you to a professional surveyor who will fix an appointment and pay you a visit. During the visit, the surveyor will jot down certain notes or features of the building/property that are necessary for the preparation of the final Property Valuation Report. He might take some photographs as well to limelight the important features of the building/property.

Whenever you deal in the Real Estate business, you fall into one of the three categories, that is, either you are a buyer and you are interested in buying a property or you are a seller and want to sell out your existing property or you are into a real estate agency and working as Real Estate Agent. Whatever the category, the Property Valuation Report is a kinda document that you will have to interact with on and off.

As A Buyer:

In case you are a buyer and are interested in buying a certain property, being a layman, you will never know the actual market worth of the property. So, you will look for a reference to the financial worth of the property. You will visit a website dealing in real estate and ask for the kind of property that you want to buy.

Upon contact, the website will ask for your choice of favorite property with your financial budgetary limit being the most important. They will have a ready-made Property Valuation Report and look for a property that matches your requirements that matches your budgetary limits as well.

AS A Seller:

Similarly, if you are the owner of a property and want to dispose of your property but you don’t know the actual market worth of your property, you will have to visit a website dealing in real estate. Upon contact, they will refer a Property Valuation Surveyor to you.

As said earlier, he will fix an appointment, visit your property, jot down important and relevant notes of your property along with certain photographs that will reflect all the important features that a buyer normally inquires about. Having taken all of this important stuff, the surveyor will prepare a final Property Valuation Report that will update you about the actual market worth of your property.

AS A Real Estate Agent:

And, in case you are a real estate agent and engage with real estate consultancy, the prospective customers both sellers and buyers may ask for Property Valuation Report for the hot properties that are likely to be sold out in a short time. You will never want to miss on the potential buyers of the hot properties.

So, to grab such potential customers, you will need Property Valuation Reports as there is a chance that a potential customer might ask for a property valuation report before making a final decision about the property.

Online Free Property Valuation Tools: 

Besides, you can get your property’s valuation report yourself as well by using free online property valuation tools. Such tools have normally been provided on almost every website dealing in real estate. But, they give you only an estimated property valuation which might be close to the actual property valuation of your property but not the real one.

So, it is a wise move to have your property valuation report generated by a professional surveyor and grab maximum profit from your property’s sale.