At the core of it all lies any seller’s goal of leaving with maximum cash proceeds from a sale. To do this, home sellers need to understand what their net proceeds are from the transaction.
Some fees will be deducted from your net sales price, such as real estate and mortgage transaction costs.
Home Valuation Report
If you’re planning to sell your property, obtaining a valuation report is crucial. These reports help establish the market value of your property and are used for various purposes – mortgage applications and tax deductions come to mind immediately. It should be noted, however, that valuation reports differ significantly from home inspection reports in that they must be conducted by qualified professionals only; there are different kinds of valuation services that each offer their own set of advantages and disadvantages.
Professional property evaluators will provide you with a detailed report that details all aspects of the property in its current and past conditions, its location and features, services that can be reached nearby such as schools and transport as well as information regarding past sales of the site and details on surrounding neighborhoods.
The type of building will have an effect on its value; for instance, brick properties will generally command higher valuation than their weatherboard counterparts. Any structural improvements that have altered its value may also be taken into consideration, and other details that will be covered by a property valuation report include construction standards compliance with residential codes as well as room counts.
Location can also have a substantial effect on a property’s value. An undesirable neighborhood, power lines, garbage dumps and other nuisances will reduce its worth significantly; on the other hand, properties in desirable neighborhoods with convenient shopping and restaurant access will see their values increase accordingly.
Although you cannot change its location, you can take steps to increase its value by improving its appearance and upping its curb appeal. Painting interior rooms or replacing old carpet with new ones is another helpful strategy; all these changes will add an inviting aesthetic that increases value of your property.