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How to Find Out the True Value of Your Home
There are many
reasons why you may want to find out just how
much your home is worth. With all of this
speculation about house price falls, you may
want to find out how much your property is worth
simply to keep an eye on any decline in value.
You may be thinking of selling up, and therefore
want to find out how much you can put your house
on the market for. Or maybe you are thinking of
taking out a loan secured against your home and
need to know what your equity levels are.
Whatever your reasons for wanting to find out
the value of your property there are some easy
steps that you can take to do this.
Of course, you can get a professional valuation
on your home, and whilst this will provide you
with a more indepth report and an accurate
valuation it may also cost you a pretty penny.
If you do not want to fork out on a professional
valuation you may want to consider using the
services of an estate agent in order to find out
how much your property is worth. If you do
decide to use an estate agent to get a valuation
on your home you should make sure that you get a
valuation from at least three estate agents in
order to get a more accurate idea of how much
your property is worth.
If you only get a valuation from one estate
agent you run the risk of under-valuation or
over-valuation depending on whether the estate
agent wants to try and get a quick sale on your
home or wants to make more commission in the
event that you do sell your home. By getting a
second opinion from another estate agent you can
get a better idea of whether the first figure
was accurate – however, you may find that the
second valuation provides you with a figure that
is significantly higher or lower than the first.
Using a third estate agent to value your
property can help to solve this issue, and can
give you a firmer idea of the value of your
home.
You should make sure that you do not tell the
estate agencies that you have already had a
valuation from another estate agent, otherwise
they may base their valuation on the figure that
the previous estate agent gave to you – by not
disclosing this information you can increase the
chances of getting an unbiased valuation that is
not based on another agent's opinion.
In addition to getting valuations from a number
of estate agents, you can also check on the
prices of similar properties in the same area
yourself by checking out the property pages in
newspapers and the prices from estate agents.
This will further help you to get a better idea
of how much your property is really worth.
by David Lynes
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