Property Valuation

Valuation of real estate is a very important step in the process of sale and renting. If your property is overvalued, you will be unlikely to find a client. At the very least, the process will be drawn out over a long time. The potential buyer looks for real estate on average over a few months and visits 10-15 properties. Study listings in the area that are similar to yours. If your price is considerably higher than the prices of similar proposals, it is quite possible that a potential customer will not even bother to visit your property. Moreover, note that potential clients search for properties within a specificprice range, so there is a risk that he simply won't see your advertisement. While an inflated price affects negatively on finding an interested party, undervaluing the price can have a negative impact on your finances. Therefore, monitoring the market, is an important factor in your valuation. If the transaction is urgent, it is recommended to set the price slightly lower than similar offerings in your area.

If necessary, ask for help in valuing your property from an independent expert. It is worth getting a written independent valuation of your property.

If the deal with your property is not a secret from your friends, you can also seek advice from them. Share your Terranesia listing with your social network and ask for advice. Your friends are also market participants and the opinion of the majority reflects its state.

Also analyze the sale or rental process itself. You have placed an ad for your property and you have started to receive interest. Be sensitive to the market and its participants. What counter offers have you received from them? According to statistics, if your property is visited by 10-15 potential customers and not one of them has offered you the price that you want, it means that your expectations are too high and the property is overvalued.

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