The hard part of our job, as Auctioneers, is telling homeowners that the price of their property does not match the value they assume.
As owners, we always tend to value our home at a higher value than the price the market is willing to pay.
First we have to know what an appraisal is. Appraisal could be defined as estimating the economic value of an asset in relation to the current market and applying a specific methodology. Basically, this means that the appraisal is valid for a specific moment, since, depending on changes in the market, the price may vary and also that only those who have the technical training to do so can appraise, that is, the Auctioneers or Real Estate Brokers.
What aspects influence an appraisal? Some of the most important aspects to consider are the location of the property, the type of home, its surface area, distribution, orientation, the quality of the materials used, the age, the state of conservation, if the property has been renovated, what are the services in the area, among others.
Although there are different techniques to carry out an appraisal, it is essential to take into account the “comparables” and the “closing prices”. Comparables are published properties that compete with the one we are appraising, and it is important to consider them to analyze what is on offer and at what prices they are published. It is vital to know how long the ads for these units have been online, as there is a lot of overvalued stock posted; This way we can determine a competitive value for the property. On the other hand, it is vital to have closing prices of properties with similar characteristics, sold in the same area in recent months to know what the square meter value is that the market is validating.
But why is the appraisal so important when you want to sell a property? Because without a real and appropriate appraisal for the current moment, it is difficult to complete an operation in the short term. And in a market that is trending downwards, like ours at the moment, letting time pass means losing money.
Logically, the owner who tries to sell his home demands the highest possible quote; In fact, it is often difficult to reach an agreement on the publication price. But, the owner must understand that beyond his desire or need for money and the emotional value of his property, he must give relevance to the number that will emerge from the professional appraisal, since it is the market (supply and demand) that It will indicate the true price of your property.
An appraisal is a market investigation and must be treated with the relevance that said investigation deserves and carried out by professionals who are authorized to carry it out, since the sale or not of the property depends on it and behind that sale, solve the problem. of clients.
Contact information:
Cell: 11-7128-7343
IG: mgm.real.estate
by CEDOC
