You are in the process of selling your property – it might take a long time to sell or you could be selling it for less than what the property is really worth. Take a look at how you should go about ensuring that you get to the right valuation for your home:

GETTING A REAL ESTATE AGENT TO VALUATE THE PROPERTY

Some realtor companies employ expert valuers who can gauge as to how your property can be valued. These valuers work on some fixed criteria to judge the Property pricing accurately:

• The kind of property and its age
• The area of accommodation in the property
• Fixtures, accessories and features that the property holds
• Status of repair and quality of construction
• Facilities available nearby and location of the property
• Liabilities accruing to the property – maintenance and service charges, tenancy amounts etc.
• There are some valuation techniques available that can be used to assess the value of the property:

COMPARABLE SALES METHOD, INCOME METHOD, COST METHOD.

COMPARABLE SALES METHOD is based on the principle of selling the property based on what it is most expected to sell for. The market conditions and the estimations in the relevant location of the property are taken into account for computing this method.

INCOME METHOD pays attention to the inherent value of the property while estimating its value.

COST METHOD looks at the opportunity cost of the property – besides, all the components of the property and the land are taken into consideration here.