ALL you need to know about the Free property appraisal
Getting an accurate property appraisal from a skilled real estate agent is the most crucial decision if thinking of selling your house.
First of all, Know the CV of your home from Council records. Real estate agent can provide you the FREE property appraisal for your home, but you would need to judge the honesty of the appraised market report as well as the agent since the decision whether to sell a house or not is based on the appraised value of your home.
You might be surprised to know that there are over 5,000 real estate agents in New Zealand, and I am confident, finding a local expert is not an easy task. If you are planning to list your property, this article will educate you about your property appraisal as well as the repercussions it can have on your real estate home selling process if you receive inaccurate house appraisal.
What dynamics are used to calculate HOUSE APPRAISAL?
These days property appraisal, free house appraisal, home valuation, and a free market appraisal are the common terms used by registered real estate agent. Your house valuation is based not just on your house price tag, but it also involves few primary considerations such as home size, home type, industry dynamics, recent sales of comparable homes across the same price range, and the location. That’s why i always say, Real estate agent competence is the most important factor so that he or she consider all the factors while preparing your appraisal report.
Refer what’s my house worth if you want to know the value of your home by yourself online.
Who NEED house appraisal?
The answer is straightforward – if you’re selling a house, then the first step is to assess the market value of your house since the market price of your property is the most important driving factor for you to consider whether to hold or sell your house.
Top tips:
Do your homework and get your home ready to list. Refer to my blog Best ways to sell the house just in case you’re dreaming about selling or purchasing the home.
It is not uncommon that you may not have experience in selling a house and mostly dependent on the information provided by the Salesperson.
Agent sales skills, Negotiation skills, real estate experience would help you to achieve the highest sale prices for your property
What is comparative market analysis OR CMA?
Real estate brokers use the term CMA – Comparative market analysis for the widely recognized house appraisal. They not only send you the selling price of your house but also the sales figures for the properties recently sold in your neighborhood.
The Real Estate Agents Act 2008 bound the agent to give you the CMA in writing of your property before you list your asset with them
EASIEST WAY TO REQUEST free property appraisal?
The best way to get an estimate of your property is to send a web query to us. We’ll send you a CMA to your address or send a soft copy to your email address. One thing I like most is that the home valuation is virtual and house appraisal cost is FREE, which means that no land access is needed to plan one for the owner of the house. Another approach is to talk to the nearest realtor.
How is this free market appraisal beneficial for you?
The utmost advantage of the market appraisal is to supply you with the recent trend of the sales figures in your area. If you keep an eye on the property prices for 3-12 months, then I think you’ll make most of your property since you recognize when is the right time to sell your home. Now, the market is hot, its time to sell the property.
WHY APPRAISAL NEED TO BE ACCURATE?
The inaccurate price range can jeopardize the entire home selling process journey. The price expectation of your home determines whether you sell or hold your property.
A high appraisal is the most prominent reason for the listings got withdrawn from the market; the other side is even worse and will make you the dearer mistake of your life to sell your home below the market price.
The overestimated price sets the wrong expectation in one’s mind and leads to unwanted results.
Top Tip:
Before requesting a house appraisal, I suggest you to set some price expectations in your mind. Take some time to read the market reports supplied by your real estate agent. Homes.co.nz and Trademe.co.nz provide plenty of free useful insights for your house. After digesting those, do some homework to sell the property at the premium price.
What is home valuation and how this is different from the home appraisal?
Home valuation is the valuation done by the property valuators that includes the precise physical inspection of your property. In New Zealand, Registered valuators usually charge from $300 – $900 (or more) based on the property area, age of the property, or any other conditions. It is often more accurate than the market appraisal. Now, the question arises why you would like it if you’ll catch on for free of charge by the agents.
For example, your house is the most expensive mansion in your local area. None of the other dwellings can compete with your dream home. You spent more than a million dollars on the renovations. On the other hand, your neighbors did not spend a single penny. In this case, Real estate agent market analysis would not be able to understand these improvements until they can do a physical review on your property and provide you with some rough estimates. The house valuation takes into account all facets of the home, such as the roof size, new bathroom tiles, modern modular kitchen, customized interior, etc. They‘re all going to give you better estimates of your building.
How to GET A FREE house appraisal online ?
I hope this article has clarified your doubts about home appraisal and house valuation. If you have any queries for your house appraisal anywhere in NZ, you can write a comment in the comment section. I will contact you at the earliest.
Blog Written by – Amit Tuteja (Licensed Real Estate Salesperson/ Real Estate Blogger) / West Auckland Property
