Have you ever wondered what the role of property valuers was? If the answer is yes, then you are about to find out. If you are in the process of wanting to sell, insure or just get a valuation of your home or business done, then you need to understand how the process works.

Property valuers are brought in to your home or business and will assess how much the value of the property is. This is done in a number of different ways. This is because there are a number of different contributing factors that need to be taken into consideration. Firstly, it is necessary to determine why exactly you want your property to be valued. If you are just wanting to know how much its value is out of interest, then a general approach will be taken during the valuation. However, if you need to know the price because you want to sell, get insurance or even a loan certain factors are taken into equation. This is why there are certain methods and ways of valuing the property that will be used dependent on the circumstances.

If you want to sell your home the property valuer will choose to use the Comparable Method. This method will compare the similar types of properties within the area. This will then give a relative value of your home. This will in turn provide you with an Open Market Value. Basically the idea is that your property may only be worth a certain amount of money, due to the other properties around it. Unfortunately, if you do not live in the best area you may find that the property will not be valued as highly as others. In the same respect if your property is more run down then the others surrounding it you can expect a lower valuation. Similarly, if you have one of the better houses around you can expect a higher value.

What is important to remember when wanting to sell, is that the value, will provide you with how much your property is actually worth. This may not mean that this will be the asking price, but you will be provided with the knowledge you need in order to put the property on the market at a competitive price. Some people would argue that it is better to ask for more than what the true value is, in case you have to negotiate the price. At the end of the day it is your decision as to how to go about it. A handy tip to make sure that you get more money out then what you put in, is to buy in an up and coming area.

By the time you decide to sell, your suburb could be the best place to be and subsequently will provide you with a better Open Market Value.

Choosing the right property valuer for you

At the end of the day a property valuer will provide you with the knowledge on how much your property is valued. For professional service that will provide you with accurate facts, you need to come to us at The Property Partnership. Visit our website www.property-partnership.co.za to get in contact with us today.