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Why Real Estate Valuation is Essential for Buying and Selling Property

By Ariel Linford Subscribe to RSS | June 23rd 2012 | Views:
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Real estate valuation is also called property appraisal or land valuation. This valuation process is used to figure out the value of a property or land before buying and selling. Normally almost every person find out the market value of the property. Property appraisal is an essential process because a property doesn’t change hands as often as some commodities, like stocks and bonds, so the market value can change drastically between one sale and the next. Also each property is different from the other one that’s why individual assessment of real estate value is essential to figure out the exact and a perfect for buying and selling of property.

If you are living in Australia and buying a property in Sydney, Brisbane or any other area, property valuation is essential for an accurate and exact figure of your property. There are some areas that do not require appraisal experts to have a license or certification in order to appraise property. While other areas require a certified or licensed appraiser to find the value of properties. These appraisers are also known as land valuers or surveyors. Normally a property is measured on the market value by using a method called highest and best use (HBU). This shows the method used for determining the highest possible value of the property. Today, there are so many real estate agents available in Australia that not only offer you real estate properties but also provide real estate appraiser services.

Normally a report of property valuations is presented on a standardized document, which is then legally recorded. Valuation of a property varies from market to market. The market value of a property is determined by finding the price at which a property would sell in a fair, open market such as an auction setting. This value assumes that both the buyer and seller are relatively educated about market conditions and that there is a fair transaction with no outside influences. It is not necessary that value of your property cannot change after valuation. It may change with no notice as market conditions alter. So, keep it in your mind that the value of your property only belongs to that day on which it is valued.

If you are buying a property in Sydney then It is essential that you should know the basics of property valuations Sydney before you get the value of your property. Make sure that you understand things like square footage, the year it was built, updates, and amenities. If you have basic information about property valuations then it's a lot easier to value your property and to make sure that you are getting the best information to the company that is doing the valuation for your property.

If you are not an expert or looking for someone who can help you in finding an exact value of your property then hiring property valuations in Sydney services is the best option for you. But the only thing you need to make sure that your selected valuation company is highly reputable and authorized. You want to make sure that they are familiar with the area and know the local market otherwise they are not going to be a good decision. There are some property valuation companies that also offer you depreciation schedule Sydney along with property valuation services. So, do some homework to find a perfect valuation company for you in Sydney.

Ariel Linford - About Author:
Lorenzo cliff has been working as a professional writer since 2009.His writing includes many articles for blogs, websites like for quantity surveyor in Sydney and many more. He prioritizes quality over quantity to write about property valuations and make sure that his articles are interesting and error-free.

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