Category: Real Estate

Sydney Property Valuer deals with property’s price finding for making it more worth

March 15, 2003 Bill Erpenbeck’s home and furnishings are sold at auction. Covington City Commissioner Alex Edmondson buys a leather chair and finds a tape recorder and tape of Erpenbeck and Finnan’s conversation. Sydney Property Valuer controls separating full house to see that it’s seen as expense in the current zone field. Whether you are driving your property or not it is always a fulfilling undertaking for you to figure your property’s cost. Starting now and into the not all that removed it will make you unfilled up with your current property’s expense.

These are excerpts from the taped conversation between homebuilder Bill Erpenbeck and Peoples Bank President John Finnan recorded on April 11, 2002. Catching Up: Assessing liability Erpenbeck: I don’t know anything really. How’s it been with you? What’s happening? Finnan: Well, you name it. We’ve got, we’ve got everybody all over us. Erpenbeck: Are they all coming after you guys? 

Yeah. They are. Erpenbeck: What are your attorneys telling you from a liability standpoint? Finnan: Oh, you know, it’s all out there. We’re the front of the line. Erpenbeck: I mean, they think that they can get it from you? Finnan: I don’t know. Who knows? You know, it’s we’ll basically fight all of it, and it’s probably a potential multi-year problem, but I mean we’re certainly in the line of liability. No question about it. 

Sydney Property Valuer

Title Companies could take the fall Erpenbeck: Does he (your attorney) feel like you can play up some sort of defense? Finnan: Yeah. I mean the only defense is that the title company shouldn’t have given them the checks. That’s our only defense. Erpenbeck: Is that a fact, legally? Finnan: Yeah. Erpenbeck: It is? Property valuation structure is always to an unfathomable degree productive for everybody and to make everything the all the more sensible in a clearing way get a fathomed and experienced Sydney Property Valuer to manage your entire system for concerning property.

Yeah, I mean they should have made sure that they (the titles) got somewhere else — Erpenbeck: I thought the biggest thing is, is there a law that they have to do a supplemental title check? Finnan: It’s not a law, but they should have. Erpenbeck: Yeah, because they are insuring that it’s a, you know, they’re doing title insurance, they’re insuring it’s a clean title. 

Yeah and that (title check aspect) will be part of our arguments, I’m sure, as to why they (the title companies) should have the liability. But you know, at some point, it probably gets split some percentage to them, some percentage to us. And they all, every bank knows that they’ve got us. On the off chance that you need knowing your home estimation then considering all things you will settle on pressing choice about your property utilizing property valuation contemptibility and a while later if you need to make your home more worth then you ought to lead update structure to make you house similarly overpowering.

Property valuation : How much my house is worth?

Do you want to sell your house, but do not know how much it is worth? On this page we help you to make online reviews and compare the results until you find an appropriate sale price.

Step by step to assess your home

The best way to know how much our apartment is worth is to make several Property valuations with different tools. Once we have all the results, we can analyze the differences and get an average of prices that includes: the minimum value at which we can sell and the maximum value. If we average them, we will get another average price that will be, in general, the most appropriate selling price. To do this, we can follow the following steps:

  1. Ask three real estate agents
  2. Make several reviews online for free
  3. Ask an iBuyer for an offer
  4. Look at the prices of the ads in the portals
  5. If we still have doubts, go to an appraiser

1. Ask at least three real estate agencies

Our advice is to ask three real estate agencies to value our apartment. This will help us to set a sale price more appropriate to the market values. Although it should not represent any cost or commitment, we must bear in mind that agencies will value our house with the expectation of capturing us as a client.

Some may even make the mistake of giving us a high appraisal to get the sale. For this reason, we must always ask that they justify the price. In other words, we must consult: what aspects of the apartment add value, which ones remain, how many properties have recently been sold in our area and at what price.

2. Make at least three free online reviews

Online Property valuations use another data source different from traditional real estate. In general, they rely on big data and have specific information regarding the floors of similar characteristics that are for sale at the moment and those that were sold in recent months. Therefore, it is interesting to also ask for three reviews on the Internet.

3. Ask an iBuyer for an offer

The iBuyers are companies willing to buy our apartment in less than a week,but that offer us for it a lower price than the market. Consulting with several of them will allow us to know what is the minimum price that we could ask for the house if we urgently need to sell.

4. Look at prices on real estate portals

It is advisable to consult the prices in the real estate portals and compare the amounts in different websites to have a broader view of the market prices. However, we must bear in mind that these values reflect the supply, but not the final purchase prices and, therefore, are usually a little inflated.

5. Go to an approved appraiser, if there are doubts

If even after all this we want one more reference on the market value of the house, we can go to an appraiser to have an expert inspect the floor and prepare a Property valuation report. This procedure is not free, its cost ranges between 100 and 350 euros. In addition, if our buyer needs a mortgage, the appraisal will be at your expense or that of your bank.

What determines the value of a home?

  • Location
  • Condition and surface of the house
  • Characteristics of the house and the farm
  • Extras of the house

Further up this page we tell you how to get a Property valuation of your home. However, when comparing prices and, fundamentally, evaluating other properties that are for sale on real estate portals, it is very important to take into account what characteristics of the house influence the sale price. First of all, there is the market itself and the dynamics of the supply and demand of our locality, but there are also other factors related to the characteristics of the apartment itself:

1. The location

  • Neighborhood and street: housing located in the center of cities is usually more expensive. Houses located on main streets, on the other hand, are better valued than those located on secondary streets.
  • Services of the area: mobility and proximity to public transport is very important for buyers. Access to basic services, such as pharmacies and supermarkets, and proximity to green areas is highly valued.

2. The characteristics of the floor

  • Living area: meters that are not useful can penalize the Property valuation. For example, if it is a floor of 120 square meters of which a quarter is distributed in areas of passage or attics that can not be used, it will not cost the same as one that has the same meters, but better used.
  • Distribution and state of conservation: the quality of the finishes can influence 5% or 10% of the value of the house. A renovated house with good materials is better valued by appraisers.
  • Plant in which it is and orientation: according to Tinsa, in a new construction, the price of the floor rises per floor between about 3,000 euros and about 6,000 euros. In addition, exterior floors are usually more expensive than interiors.
  • Number of rooms and their condition
  • Do you have a terrace or balcony? Indoor or outdoor patio? The terraces, balconies and gardens are very well valued.

3. The building

  • Antiquity and condition: in principle, the older the lower the value, but this may vary if, for example, a considerable reform was made on the farm.
  • Elevator: the existence of an elevator can revalue a home, even more so if it is located on a high floor.
  • Common areas: a common pool can increase the value of a home between 5% and 15%, according to Tinsa

4. Extras: do you have a storage room, garage, etc?

In cities where parking is difficult, the garage is a factor that revalues housing. The same goes for storage rooms, mainly if the floor is small and has little storage space.

What is the difference between a Property valuation and appraisal?

Both a Property valuation and an appraisal are estimates of the value a home has on the market. However, we must bear in mind that there is a slight difference between the two:

The appraisal of a home is a document that has legal value and costs, in general, between 100 and 350 euros. Therefore, if our buyer needs to request a mortgage, he will have to present to the bank an appraisal made by an approved company.

The Property valuation, on the other hand, has no legal validity and is used only as a guideline to set the sale price of the house. Overall, it’s free.

In this sense, if what we want is to have an estimate to set the price of our apartment, it may be enough to make several Property valuations to compare between them, but if we want a more exhaustive report, we can request a face-to-face appraisal (approved). Keep in mind that this, likewise, will be requested by the buyer when he goes to do the mortgage procedure.

How much does it cost to value or appraize a home?

  • Free: traditional and online real estate agencies can estimate the price of our house for free.
  • Between 7 and 250 euros: some online Property valuation companies, in addition to offering us free appraisals, give us estimates that are paid and that, in theory, are a little more accurate. For this we can be charged between 7 and 250 euros, depending on the level of precision (Euroval, Tinsa, etc).
  • Between 100 euros and 350 euros: approved appraisers have very variable fees, since these depend on the size of the apartment and the location, but in general they range between 100 and 350 euros. Their assessment is much more accurate.

What do I need to appray or value my apartment?

To rate the apartment for free online

For the appraisal of the free online home we do not need any document. By entering the address and characteristics of our property on the chosen platform, and sometimes the cadastral reference, we can obtain an estimate of the value.

To assess the apartment with an approved appraiser

If we choose to go to an appraiser to help us set the price of our home, at the time of Property valuation we will need the following documents:

  • Copy of the deed of ownership
  • The updated simple note. This is not mandatory to carry out a real estate appraisal, but may be required in some cases for data verification.

With these documents the expert will be able to verify the ownership of the home and the possible charges or mortgages that weigh on it. In addition, you can also verify if the location and physical reality of the property correspond to the data of the Cadastre.

The mortgage appraisal, always approved

If the future buyer needs to request a mortgage, he must carry out a mortgage appraisal of the house through an approved appraiser. Although it is not something that should take away our sleep, we must bear in mind that it is very possible that we ask an appraiser to approach the house to value it.

3 free online Property valuation tools!

  • Housfy
  • Housell
  • Idealist

Housfy Titration Tool

The Housfy simulator offers us, at the beginning, an experience similar to that of Idealista. We must enter their website and enter some basic data of the property. Immediately, its Property valuation tool gives us a price range that oscillates between a minimum and a maximum. In addition, we can expand the information right there and visualize: other properties of similar characteristics that are for sale on their website and the list of schools that are near the property.

In turn, if we leave our data, an agent will contact us by phone and will not only expand the Property valuation information but will suggest an estimated sale price. The information they usually provide us in this phone call is:

  • Price of the square meter in our area.
  • Suggested retail price for our apartment.
  • Number of flats sold by Housfy in the area in the last six months.
  • Type of client who might be interested in our property.
  • Factors that determine the price of housing: location, distribution, characteristics of the farm, etc.
  • Price estimation method: they use their database, where they record the prices of other flats that were recently sold in the same area, and add the current publications in the real estate portals. Thus, they analyze both the starting price (that is, that of the publication), and the final sale price.

Housell Titration Tool

As in all Property valuation tools, in Housell we will have to enter the property data and our email. We will automatically get three prices (one minimum, one medium and one maximum), but in addition, we will receive a detailed report in our email. This includes:

  • List of services, green areas and transport in the area.
  • Prices of other houses that were sold in the area, located less than 700 meters from our property.
  • Characteristics of the house that influence the price (number of rooms, if it has a terrace, on what floor it is located, etc.).
  • Supply and demand situation in the area.
  • In addition, at all times they offer us the visit of a real estate agent to our home to be able to determine a more specific price.

Housell’s Property valuation report adds interesting information about the supply and demand situation. In this way, they tell us what percentage they are in with respect to the maximum expected for the area. For example, they can inform us that the demand is at 40% compared to the periods where there were more interested in buying flats.

Idealista Appraisal Simulator

The Idealista appraisal simulator allows us to know the estimated sale price of our apartment. Using it is very simple: the first thing we must do is enter the exact address of the house we want to sell. Subsequently, they will ask us for some additional data such as type of property, built area (this information can be consulted in the Cadastre) and the reason why we are making the Property valuation. In addition, we must inform our email.

Immediately, the Idealista appraisal simulator will throw us three prices: one minimum, one maximum and another medium, which is the suggested sale price. However, they clarify that it is an estimated value and propose us to contact some real estate agencies to obtain a more accurate result. But it doesn’t end here! We must be attentive to our email because they will send us a detailed report that justifies the suggested price. It includes:

  • The data of the property.
  • The suggested asking price and the minimum and maximum value at which we could sell.
  • The evolution of the estimated price of other similar properties over time.
  • A detail of other similar properties, which are located in the same area, and which are currently published in Idealista.
  • An analysis of the environment, including:
    • List of nearby schools.
    • List of restaurants that are located in the area.
    • List of green areas that are in the neighborhood.
    • List of main shops and banks that are close to the house.
    • Detailed report of the train and metro lines that can be accessed.

Important! According to the different Property valuations that we have made from HelpMyCash, the estimated price of Idealista is usually higher than that of other tools. It is important to note that they consider, among other things, the sale price published on the real estate portal. This is not, in short, the real price of the sale, but the starting price. During the process, this value is usually negotiated with the buyer and tends to be lowered.

Are online appraisal tools reliable?

Yes, online appraisal tools are reliable if we know how to use them. In that sense, it is best to make many assessments and evaluate in each tool:

  1. The data source. Where does the data on recently sold flats come from? If they come from real estate portals, we must bear in mind that they usually reflect the starting price, but not the final price of the sale. This is negotiated in most cases and ends up being inferior.
  2. Volume of data. If you take into account the flats sold in the last six months, how many flats are we talking about exactly? Do they represent a significant amount to use as a reference?
  3. Intention of the company that sets the price. This point is also important in determining whether free online appraisal tools are reliable. In general, the intention of companies that value flats for free is to attract us as customers. Therefore, sometimes, the price they suggest is higher than what buyers are really willing to pay.

This practice is common and can be part of the sales strategy determined by real estate companies. But we must always dialogue with the company to understand if the value they give us for our home will approach the sale or if, on the contrary, it will be used as the starting price to evaluate how buyers respond with that price.

3 appraisers approved in Sydney

It could be that, to have a more exhaustive opinion on the market value of our home,we want to go to anappraiser endorsed by the Bank of Spain. As we have mentioned, some of these companies can offer us both a face-to-face appraisal and an online one:

  1. Tinsa: is perhaps the largest benchmark of the approved appraisal in Spain. We can hire this service through its website from 170 euros. Although prices may vary depending on the location and surface of the house.
  2. Property valuation Company:it is an independent company and, in addition to its official Property valuation, they offer us an online valuation for about 9.90 euros and a face-to-face appraisal whose prices range between 200 euros and 500 euros (depending on the surface of the house).
  3. Gesvalt: is a company specialized in real estate consulting and Property valuation. We can ask for a quote for the official appraisal of our house through its website. The average price of an appraisal approved with this company is around 300 euros.

FAQ- Frequently asked questions about housing appraisal

Who pays the appraisal of a home?

The approved appraisal is paid by the buyer of the apartment, since he will need it to be approved for the mortgage. Although, if it is the seller who commissions the appraisal in order to set the sale price of the house, it is up to him to assume the cost of the Property valuation.

Does the cadastral value indicate the sale price of my apartment?

The cadastral value and the sale price are not the same. The first is an administrative indicator that is well below the market price of housing.

Even so, it is important to know this value before setting our sale price. Especially if we urgently need to sell the apartment and we are willing to do it at a discount. This is so because if we sell it well below the cadastral value, when paying taxes, the Treasury can carry out checks to verify that there have been no hidden or unclared payments. It can even require a complementary settlement.

Is it a good idea to start selling the apartment with a high price and then lower it?

If we are not in any hurry to close the business we can set a price a little upwards to see the reaction of the buyers and, according to the interest that awakens our floor, go modifying the price.

But if we have urgency to sell the house it is advisable to establish a price adjusted to the market from the beginning to be able to sell quickly. In addition, we must bear in mind that, according to some experts, if buyers see that the price of the floor is falling, they will want to tighten more in the negotiation to get more discount.

What can increase the price of my apartment?

The location of the home is one of the most determining factors in the value of a home. However, the state of conservation of the floor can also influence the Property valuation we obtain from the house. In this sense, the reforms and even some repairs that we can carry out in the property so that the facilities and the presentation of the house improve can contribute to increase the appraisal price.

Do I need the cadastral reference to appray my home online for free?

Not necessarily. Most appraisal simulators ask us for the address of our apartment and, with it, they obtain the cadastre data. However, some tools in particular may ask us for the cadastral reference of the house to perform a more accurate search.