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Online property valuation services?

Online property valuation services?

Determining the value of your house is often a difficult task. Not only do you have to deal with multiple estate agents giving different values, determining which of these valuations are true; now you must also try to figure out if online property valuation services are actually of any real use and should they be taken seriously? We are undecided, but let’s first examine the facts about property valuations.


Fact: Estate agents lie.

Estate agents really don’t have your best interests at heart when it comes to valuing your home. What they really want to do is get you to sign up to using their services. They will tell you what you want to hear in order to sign you up, and they will even counter offer against competitor estate agents to win you over.

In our opinion estate agent valuations should be taken very lightly. Remember, they are all businesses looking to make a profit, and will try whatever they can to get a commission on your house sale.

Fact: Online tools don’t work.

If you have shopped around on the internet trying to get a free valuation of your property, you will probably have quickly realised that a lot of them are fake! What they often do is ask you to submit your personal details first, and then say they will be in touch with an offer. If this is the case, the likelihood is they are just another estate agent, or they are a cash buying company of some sort. If a cash sale interests you, try this online property valuation service for an ‘indicative offer’ of what you may expect from a cash house buying company.

Other online tools like Zoopla and Nethouseprices do actually give you a figure for your property valuation based on information that you provide – however the accuracy of the valuation they make is questionable.

What they tend to rely on is previous sale information that is available via the land registry. They use this information to build a database, and generate averages for UK house prices. This information is very basic, and they don’t know the exact specifications of your home, so the likelihood of getting an accurate valuation from these types of tools is slim.

RICS Matters.

RICS (Royal Institute of Chartered Surveyors) are the only valuations that really matter. RICS are used by the mortgage companies to evaluate the value of property for lending and are taken serious for lending purposes.

If you genuinely want to get a true market valuation of your property, we suggest that you get in touch with a surveyor. This will cost you, however, it will be accurate and you will know exactly what your home is worth.

Getting A Valuation For Your Home

If you’re thinking of moving the first step to take will be to find out what your property is worth. Knowing how much you could sell it for would help you plan ahead and to see how much you could potentially spend on your next property.

Before you get a valuation, it is a good idea to make sure your home looks its best. Many people lose out here by not spending a little time ensuring their property looks fresh and clean and tidy. Simple tasks such as repainting the exterior, mowing the lawn, tidying the garden beds and redecorating where needed inside can all make a big difference.

When you get a valuation, make sure you ask more than one estate agent to provide one for you. They will all give slightly different prices so by getting more than one you can get a more accurate idea of what your home is really worth.

Next you need to decide how you want to sell your home. It is a good idea to remember different ways of selling will likely result in different prices. For example you may be lucky and get the asking price if you sell it on the open market. However, depending on the property and its location it might be up for sale for many months before being sold. You don’t have to agree to a lower offer but you should think about whether or not you could realistically get more before you sell.

If you decide to opt for the fast sale route, the price you are offered will be based on a number of factors, including a proper valuation. The speed at which you want to sell will help you decide how much you are willing to accept for a faster sale. Your circumstances will very likely come into play too, so it is worth thinking about all these aspects before you decide where to go with your valuation.

The other option is to sell your home via an auction. Many people tend to do this with properties that are difficult to sell on the open market, or that have already been up for sale for a long time with no luck. A valuation is still a good idea here so you have an idea of what it should sell for, and with a reserve price in place you know you are guaranteed that minimum amount