What is a valuation – and do I have to commit?

19 Sep What is a valuation – and do I have to commit?

Want to know what your house is worth? Read on to find out what a valuation is, and how can you get the most out of it.

What is it?

Essentially, a valuation will tell you how much your house is worth in the current market.

How do I get one?

The most informative way of getting a valuation is through an estate agent. Any agent worth their salt offers a free valuation with no strings attached. It’s the best way for them to make their services known to you, and the best way for you to find out what the local market is up to.

How do I choose which one to use?

It’s always advisable to get a minimum of three valuations from different agents. By getting three, you can begin to approximate what your house is worth. Be wary of the ones that offer substantially more than others, though. An unscrupulous trick by some agents, which we’ve talked about here, is to overinflate the price in order to win your business.

However, don’t forget that selling your home is an exercise in negotiation, so pitching the asking price slightly higher than that price you actually want is quite normal. A good agent will give you an honest opinion of the state of the market and your home’s place within it. Plus, they will be viewing your property through the eyes of a buyer. So treat the valuation visit the same, give the place a spring clean, de-clutter, de-weed, mow the lawn etc.

Other ways to get a valuation

While an agent is the expert in your local area, it’s worth arming yourself with some knowledge beforehand. These days, it’s quite easy to get your hands on the sold prices of the properties similar to yours. Big sites like www.Rightmove.co.uk and Zoopla.com will show you what houses have sold for in the area.

Why is having an accurate valuation important?

Quite simply, the buyer will also have done some research on house prices in the area. If they think you’ve overpriced your home, they’re not going to have much faith in you as a seller. On the other hand, you don’t want to lose out on the extra £1,000s you could have got by not having your eye on the current market.

Is having a valuation a commitment to anything?

Absolutely not. In fact, if an agent tries to tie you in to instructing them based on their free valuation, avoid them like the plague!

What else do I need to know?

Today’s price on your home might not be tomorrow’s. As supply and demand change, so do prices. As the saying goes, your house is only worth what a buyer is prepared to pay for it!

Interested in finding out more about valuing your property? Invite us in for a free valuation in Chalfont St Peter, Chalfont St Giles, Gerrards Cross, Rickmansworth and Beaconsfield. Call us on 01494 873663.

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