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The Importance of Property Valuations: How Much is My House Worth?

When it comes to selling your house, getting a property valuation from a reputable estate agent is one of the most important parts of the process. It safeguards you as a seller, and an accurate and realistic valuation can even help your property sell quickly. As experts in selling and buying homes, we know how important it is to have a  realistic property valuation, and we want to give you all the valuable advice you need to ensure you get a secure sale. 

Find out how much your house is worth

Having a property valuation is the best way to find out what your home is worth. Estate agents deal with hundreds of properties every year; this gives them the expertise to know how much houses are worth in your area and the current state of the market. A trained agent will be able to give you an accurate evaluation based on the condition of your house compared to other similar properties that have recently sold. Having a thorough valuation will ensure that you don’t list your property for too much or too little. This way, you’ll be able to avoid underselling or, on the other hand, listing your property for too much and getting no buyer interest. 

Factors that affect a valuation 

How much your house is valued is affected by:

  • Location
  • Size
  • Age 
  • Condition
  • Upgrades and Updates
  • Local Amenities
  • The State of the Housing Market
  • Economic Indicators
  • Safeguard yourself

    This is the biggest reason as to why you should get a property valuation. It will safeguard you from being accused of misleading your buyer, which could lead to legal issues.  As a seller, you are legally required to divulge any information about damage or major issues that you are aware of; you could face prosecution if you fail to do this, which is the last thing you want. 

    Whilst property valuations are not designed to protect sellers, they give an unbiased assessment of your property’s condition and value. When it comes to filling out your TA6 form (your property information form), having the impartial opinions of an expert estate agent will assist you in giving your seller an honest description of your home. 

    Prevent sales from falling through

    Having an exact estimate on your house can actually prevent a sale from falling through. This is because mortgage lenders can sometimes insist on doing their own valuation on your property before they lend money to your buyer. If their estimate is far off of yours, then it may impact how much they are prepared to lend the buyer, which could mean they are unable to afford the offer price or proceed at all.

    Find the Right Estate Agents

    At Open House, we are the specialists when it comes to buying and selling homes throughout Oadby, Wigston, Leicester and Leicestershire. We offer free valuations on your property so you can rest assured that your home will be listed at the most accurate price to give you an easier sales process. Our valuations are thorough; we will send one of our trusted agents to you, unlike many estate agents who carry out valuations online. 

    Book your free valuation today!

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