Understanding Property Valuation


Assessing the value of real estate property is important to a range of undertakings, such as listing homes for sale, property insurance, evaluating an investment, and more. For most people, figuring the asking price of a home is the most useful application of property valuation. Benefiting the seller and buyer, a property valuation can help in determining the current value of a property in an open and competitive real estate market.

What is a property valuation?

A property valuation is a professional opinion of the current market value of a given property. A broker or agent will take into account many factors including the number of bedrooms and bathrooms, square footage, floor plan, amenities, lot size, location, condition and nearby sales.

When do I need to get a property valuation?

The most common time you will hear people discussing house valuations is when selling a house, or before making an offer.

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