What is a rental appraisal?
Find out what a rental appraisal can do for your investmentREAD MORE
The process of selling your home can be a long one with a great number of things that need to be done. It can be stressing; it will test you but they need to be done to ensure that your property gets sold.
One of the first steps you can take in your property selling journey is to get a market appraisal done.
Usually conducted by a real estate sales consultant, market appraisals are a way for the seller to dip their toes in the market waters and can help set expectations for what price a property can achieve when sold.
There are multiple factors that are considered when a market appraisal is conducted. Some key aspects are:
Most market appraisals will not be for immediate listing though. They will be a prediction of what the property may sell for in a couple of months.
This is because, as the owner, you will need time to make any prospective changes or improvements to the property to ensure that you can get the best possible price at sale.
It is because of this that an appraisal may not reflect the current market but rather what the sales consultant believes the market can achieve in the future when the property is being sold.
Market appraisals can also be used for people who aren’t selling now but may need them for tax or refinancing purposes.
It is important to note that any market appraisal is not a proper valuation. They can’t be used with any prospective lenders to establish the market value of your property.
One of the most appealing reasons to get a market appraisal is that they are free. You can learn what your property is potentially worth and gain a better understanding of the real estate market in general.
A property sales specialist will collect and share information that can shape your financial future. This being no cost to you means that it is something that should definitely be considered at the beginning of the selling process.
Therefore, because it is free, it is common sense to get a market appraisal conducted.
When seeking a market appraisal, selecting someone that is familiar with the suburb of your property is vital.
You should also find someone with a proven track record in residential sales who will strive to achieve the best and most accurate appraisal for you.
Get a market appraisal done with Little Real Estate and take a big step towards selling your property for the best price possible.
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