Real Estate Valuation: Is It Necessary? - The Jamil Brothers
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Real Estate Valuation: Is It Necessary?

March 4, 2016

Evaluating the price of a property is an essential task for virtually every buyer or seller in the real estate market. Sellers construct their asking price with respect to the valuation, while property purchasers need to choose whether a particular piece of real estate property is worth its price and,  if not, the amount to offer for it. Evaluating the estimation of a property is an intricate issue where numerous elements must be considered – it is a mix of workmanship and science.

Deciding a value for real estate is necessary because the housing market is not perfect. There is regularly an absence of solid information, and now and again, market prices are just not legitimate pointers of worth. In this manner, when key inquiries concerning a property are basic to choice making, an assessment for property valuation gets to be important. Here are some common instances of where real estate appraisal is critical:

  1. A real estate investor may like to ascertain a possible fee for an investment property.
  2. A seller may wish to set a fitting asking price, or maybe is considering other alternatives, such as, maintaining the property, refinancing, or exchanging it and needs to determine an appraisal of his or her accessible capital or net value in the present property.
  3. A mortgage lender would want this information when it comes to deciding whether or not to sign a loan for a property.
  4. The tax advisors also want this information to establish an appraised value of the property.
  5. When the courts have to decide on the division of property, awarding damages or in cases of eminent domain, they will request for an appraisal of the home.

A valuation is an “informed and educated conclusion” on the price of a property. It likewise, in a few circumstances, may help determine the best use of the property, so as to get the best selling price. For instance, a long-term private property may be in a region that has been rezoned for commercial activity, which could potentially bring in a higher sales price than marketing the property to residential buyers.

A real estate appraiser differs from an inspector, who is searching for things that should be redressed, repaired or supplanted. Despite the fact that an appraiser will also take a look at these same things, he/she is just interested in generating the property’s value.

A valuation is based totally on the highest and best use of real estate property — what use of the property will produce the best viable value? The final appraisal must be both plausible and profitable.

Curious on how much your home maybe worth?

Contact The Jamil Brothers and we will send you a FREE Market Analysis on your home.

About the Author

jamil brothers
Saad Jamil

As a web developer, former chief marketing officer, and former CEO of SJ Solutions, Saad is experienced in project management, marketing and branding, SEO, and strategic consulting. He is confident that his keen consulting skills and entrepreneurial spirit will get you the best price possible when buying or selling your home. While a chief marketing officer for a start-up fuel/technology company, Saad negotiated large fuel sale contracts with due diligence. This translates into his ability to fight for your best interests. He works with speed and vigor. You can be sure that Saad will work around the clock until the job is complete. Saad owes his knowledge of the real estate industry to a great mentor- his father. His passion for real estate is infectious, and he is always excited to put the lessons he has learned from his father into practice. One of the most valuable lessons his father taught him was how to get the best value for your dollar, even in a seller’s market. Not a single opportunity will be missed while you have Saad in your corner. Your happiness and well-being are what drive Saad to have your needs met. Customer service is a top priority. You can be sure that while working with Saad, you will receive honest and open communication throughout the entire process. Honesty, integrity and efficiency, are what you can expect when you choose Saad as your real estate agent. So whatever your real estate needs, please do not hesitate to contact Saad Jamil.