Getting your property valued is the process of getting an estimate of what your house is worth at the time of the valuation. It’s an equally important process to go through for both buyers and sellers. For example, if you’re looking to sell your house, then a valuation will give you an idea of a fair asking price before it’s listed on the property market.
On the flip side of that, if you’re looking to enter the buy-to-let market for the first time, then getting a property valued by an estate agent will help you determine what rent to charge and therefore what profit you can expect to make.
Some people find the process a little bit stressful, which is why online home valuations are becoming more popular. But, still, the vast majority of people prefer estate agents to come to their homes. So, let’s now through what you should expect during the valuation process.
What Happens During The Process
Not all estate agents value properties in the same way. But, there are a few different factors that will always be considered. When carrying out a property valuation, an estate agent will pretty much behave like a prospective buyer.
They’ll assess the land that your house stands on based on location, size and topography as well any potential for future development. After all, the value of your property is not only determined by what’s on the land, because there could be many opportunities for further development.
The estate agent will also provide you with some details concerning recent sales and the average property prices in your area. This can give you and your estate agent an idea of what your property may be valued at.
The structure and condition of your property is also a significant factor that needs assessing during the valuation process. Certain things like rising damp can hugely influence the valuation of your property negatively and often be a reason why a prospective buyer might want to negotiate on the asking price.
Externally, there’s also a few factors that’ll need assessing such as any outbuildings such as a garage and how many vehicles the driveway can accommodate. The estate agent will also take lots of photos to highlight your property’s most important features.
When an estate agent comes to your property to evaluate it, this can take some time. So, patience is the real key to allow them to conduct a full valuation but make sure you ask them any questions you may have.
Things to Prepare Before An Estate Agent Arrives
There’s some basic things you can do before an estate agent arrives at your property. This will help you get the very most out of the appointment and to make it as easy and straightforward as possible.
One of the first things you can do is give your house a clean and make it look the part. This doesn’t mean that you need to scrub your sofas or steam the carpets, but a little bit of decluttering can help your house look bigger and help to highlight some of its key features.
Another thing you can do to help save time on the day of your appointment is to prepare any relevant paperwork that’s related to your house. For example, this could include building and development documents.
This can help the estate agent speed up the process and assist with getting a more accurate valuation on the day of the appointment. Also, like we previously mentioned, remember to ask any questions you may have so write them down as you prepare for the appointment.
When it comes to getting your house valued, the more you know and understand the process, the better. This way, you’ll be able to make a more informed decision once the valuation has been completed, and it will help you to develop a good professional relationship with your estate agent. This in turn will help the process go a lot smoother when it comes to selling your property to someone else and moving into your new home.
