Tuesday, September 27, 2016

Importance Of Getting Your House Valued When Selling A House "As Is"

While deciding to sell your house, there are certain aspects to consider for a good sale. Apart from maintaining the cleanliness quotient and ensuring all the electrical and plumbing phases are in working condition, the value of the house has to be estimated before you quote a price for it. The reasons why you want to sell your house, is the foremost consideration that is taken into account when determining the house value.

The elements that need scrutiny before the valuation of the house can be made are:
The location of your house, whether it is far from the city area or in the prime locations, would affect the assessment of the house.

The age of the house and its current condition.

The average per-square rate of the area in which your house is located.
The facilities provided with the dwelling play a vital role in valuation. Whether the house is fully, partially or not at all furnished, whether it has a swimming pool, clubhouse or garden or no such facilities are available.


The significance of getting your house valuated is that buyers tend to certain price ranges to fit their budgets and formulating a price close to the fair market value will better your chances of striking a good deal. All house sellers are advised that they avoid being caught up in the high price deals promised by their agents and brokers. This is because many times sellers get charmed by the high price quoted by agents thinking it is the best deal and often overlook the fact that the price quoted is way above the market value and hence will not be taken up by anyone. This in turn increases the time period of the sale, which might hamper the house's market value even further and the sellers may find themselves selling their house for much lesser amounts than was possible earlier. Getting a professional with a good track record to value your house will not only ensure the correct price but will also save your house from being held due to a poor estimation.
You need to know the market and other house deals that have taken place in and around your area. This will help you self-analyze whether the rate estimated for your house is reasonable, even without the help of a broker.

The next thing you need to decide on is a minimum price for your house. If the buyers cannot afford the stated price, they you can negotiate from that minimum price so that you still end up making a profit on the sale.

You should enquire about the average selling time for a house in your area. If your home sale is taking much longer than the average time, then the problem could be the price, which would undoubtedly be higher than the market value.

In order to increase the value of your house, compare it to other properties in the vicinity and alter the price if necessary.

Sellers need to track market movements and make regular checks on the stock of unsold local inventory and price changes.

The house tax, property tax, maintenance charges and other costs need to be considered during the evaluation.

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