Coronavirus: sell or let your property safely with Open House Leicester and learn about how we're carrying out viewings and valuations. FIND OUT MORE
Getting in touch with estate agents in Leicester and property surveyors to value your home, is the first step to getting your home on the property ladder. Without having a clear understanding of how much your property is worth or clear understanding of the local market, you will struggle to make any progress.
When you ask an estate agent to value a property, you are taking a step that is an integral part of the home-buying process.
When the agent carries out an inspection of the property you want to buy, they will look at numerous specific factors related to the state of the building. Following that, more general aspects come into play such as location and current demand. All these factors are then combined to produce a fair valuation.
Be honest with each agent and ask them for three figures: an optimistic top selling price, i.e. the highest price they believe your property could achieve in the prevailing market, their suggested selling price (the price they believe you should market at) and their estimated eventual selling price (the price which, in their opinion, you are likely to achieve).
As a seller, it is easy to accept lavish praise about your property and a higher valuation by a confident agent, but it is more important to receive an accurate valuation based on the current property market. Plus, a high asking price may take months or even years to sell your home.
When an estate agent comes round to value your home, there are lots of features that are taken into consideration, such as:
• How old the property is
• Desirability of the home
• Location and the demand on the area
• Number of bedrooms and living area
• Wear and tear of the property at current
• Structural improvements
• Quality of fittings – i.e. in Bathroom and Kitchen
• Room layout and internal design
• How your home is supplied by utility companies
• Extras fittings such as double glazing
• Storage space in the property
Consequently, when an estate agent puts together a valuation for you, the estate agent takes into account the house prices of recent sales in that area, as well as the general attractiveness of the neighbourhood.
For the valuation to be fair, your house will be compared with similar properties in your area. It should fall in line with general house prices for the area. The desirability of your neighbourhood, demand for your area and location relative to amenities will all help to boost your valuation.
Once you obtain the valuation, you are well on your way to acquiring a mortgage and the property you desire.
At Open House Leicester we offer free rental property valuations, and free sales valuations so if you want to find out how much your home is worth, talk to us today. Call 0116 243 7938 or email email@example.com