Valuation of real estate properties’ is an effective tool to market your property to potential purchasers in Melbourne. A real estate’s fair market value is the price the property ought to anticipate to sell for on an open market, and governments recruit professional property valuers to determine fair market values.
If we look from the perspective of a buyer of property, they consider the property value report and the chartered surveyors report both as a base to reach to a fair conclusion regarding the pay figure. The property value report in itself when calculated by a seasoned registered valuer has the potential to make the property bankable. If at all the first buyer doesn’t somehow be able to afford to pay what a vendor offers as a price of a property in the open fair market, the property valuation report can easily be marketed as a lucrative tool to attract the attention of other potential buyers.
According to the International Valuation Standards Council the property valuation is defined as, “The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.”
This valuation foundation represents the present exchange value of the property if it is placed on an identical market as exists today but was placed on that market long enough ago to be correctly marketed and the best price gained as at the valuation date.
A fair valuation of a property by a legitimate and registered valuer makes the property transaction more lucrative for the purchaser who can without a doubt and hesitation buy the property in good faith at an offered price. The price so quoted to the purchaser also assists them in anticipating the worth of their proposed wealth. It also becomes feasible for the lenders, banks or financiers to be able to provide a concrete and safe mortgage or credit against a marketed property on the basis of its property value report.
Placing the property as collateral to avail loan against the same also becomes possible on the basis of the property valuation report. Since a property value Melbourne report takes into consideration not only the physical property structure while valuing but also the entire allied elements as well i.e. furniture’s, fixtures, landscaping, swimming pools etc.
In today’s dynamically altering market conditions, professional advice and good marketing strategy is the key to fast property sale. Therefore the services of a property valuer become of paramount importance to facilitate a fair and appealing property sale.