Real estate property was generally assumed as a legacy a parent bequeaths to the offspring and the emotional attachment to such a property often times accounts for high value placed on it when situation demand for sale of the property. However, with the recent realization that real estate is a major source of capital appreciation and a good hedge against inflation, the real estate market is coming close in popularity and importance to the money and capital markets, so reliable property valuation is key to setting the right price for that property in an open and competitive market where there are hardly no second chances for not getting it right at the onset.

Most property owners/sellers often wonder about how property valuation works and the need for it when they can put price on their properties going by sales trend of assumed similar properties within the locality of the property.

This in most cases doesn't give accurate market value of a property owing to the fact that several other factors needed to be considered in arriving at the market value. By relying only on the neighborhood sales trend, you as a seller might put far lower price on your property or even high above to the extent it could make it stay longer than necessary in the open market.

Lets take for example two similar properties within same neighborhood, one has valid and verifiable title document while the other doesn't. If the other with no title is sold for X amount would the one with valid title be sold for X amount as well, definitely NO.

In transactions involving sales of houses, the first focal point is knowing your home’s worth so as to ensure you don’t keep going in circles in the course of the transaction. Knowing the accurate value of your property is sacrosanct if you are to have a successful real estate transaction. It is a determinant of what your property is worth in an open and competitive market.

Let us now look at what is property valuation? Property valuation is often produced as a report that includes property information such as rates, size of the land and building, physical details on the construction and condition of the dwelling, details on any immediate issues that may need addressing as well as information on comparative sales in the area.

Knowing the value of your property before it is listed for sale is essential if you are going into that transaction with the hope of getting good returns on your investment. This also means that your property doesn’t stay for donkey years in the real estate market without a potential deal in sight.

Has earlier mentioned, there are several factors that play a huge role in determining the market value of a property. These factors are lord over your property and should never be neglected during the processes leading to the sale of your property. That is why it becomes essential you employ the service of a real estate valuer to give you an independent opinion of market value of your property with a view to achieving maximum profit on sale.

It is a known fact that selling or buying a home is not a child's play, it is in fact a complex venture. More reason you need a real estate personnel to ensure the transactions run smoothly and keep things from spiraling.

Although a local agent may be familiar with the specific variables that will affect your home’s value. These could include the number of comparable homes for sale in your neighbourhood, how long these homes have been on the market and what the latest selling prices have been for comparable properties but those alone could not be relied upon as there are other technicalities involved so that value placed will not be too high to the point where you will only get onlookers and observers of your property and virtually no potential customers.

Years later, when your home becomes a monument, the only people around your property will be sympathisers. You know what happens to properties that have stayed too long in the market? People will begin to price it much lower as it continues to spend more time in the market because it will be assumed that something is wrong with the property in question because of the amount of time it has spent in the market.

Yet, there are also dangers in setting the bar too low; a low price could scare away buyers who may perceive that the property must have flaws or imperfections. A reliable property valuation will be able to prevent both of these scenarios by helping you set the listing price as realistically and accurately as possible.

Regardless when valuing your property, aside comparing the prices of other properties in the market with yours, a good real estate valuer considers the location of your property, facilities therein, proximity to a major road, market, schools, transport service, relaxation centres and other places of note. The age and worthiness of the property also plays a huge role in the property valuation and how much rehabilitation the property has undergone over the years. Not forgetting the size of the lot and the level of aesthetics.

All these factors must be duly correlated with what’s obtainable in the market to determine the worth of the property. Hence, it is advisable you get that your property you intend to sell or already in the market over time valued by our team of certified Estate Surveyors & Valuers to ensure quick sale at optimum profitability.

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