What is the difference between market appraisal and a valuation ? When you’re deciding the selling a home, is commonly described as booking in a valuation. But in some cases, you’ll see it called a market appraisal. Let’s look at the differecence between these two approach.
If i want to sell a property, do i book a market appraisal or valuation ?
What is a market appraisal?
Most people book a valuation through an estate agency, so that a professional will come to their home and recommend a marketing price. However, techically, they’re booking a market appraisal.
Because people who are selling a property typically refer to this process as a valuation, and that’s what they are looking for when they book us in, we use the valuation as a shorthand for the market appraisal service. We want our sellers to be able to achieve the best price for their sale.
So, whether you call it a market appraisal or a valuation, if you book with Property Azerbaijan, a Valuer with a practiced eye will gauge your property’s condition, location, unique features etc. They have done research beforehand, so they can draw on cutting-edge data and their robust knowledge of the current market to give you a reliable recommended price at which to list your property. Then you’ll sit down together and they’ll talk you through their custom strategy for selling your property.
What is a Valuation?
Valuation happens when, for example, a bank looks at a property someone’s buying to lend on a mortgage, or the assets are separated in a divorce, or when settling an estate. It’s carried out by a qualified property surveyor.
For legal purposes like these, a market appraisal from an estate agent wouldn’t be suitable. In a full, paid valuation, the surveyor will provide a much more in-depth look at the condition of the property. They will not, however, account for how a property’s unique features could be marketed towards the right buyer. They are not tasked with coming up with a strategy around selling the property that would affect the number they produce. That’s why, if you’re planning to sell, a market appraisal is best.
Does it cost?
A Property Azerbaijan market appraisal is completely free. You will have access to market and property insight from a local expert. You can ask all your questions about the sales journey and get reliable answers, and you’ll have a path forward if you choose to sell – all without paying a penny.
Valuations, such as a mortgage valuation or survey by a qualified property surveyor, cost money to produce – which is different depending on the surveyor and survey type.
