The first thing is clarifying the purpose for identifying the value of your property.
Perhaps it is only a general appreciation of what the value might be in the current market?
Is it a change of ownership where one party is buying out one or more owners, off or on the market?
Perhaps it is for a taxation assessment, or longer term to understand the capital gains tax implications?
Or, are you thinking of putting it on the market soon and want to start identifying how much you can achieve as a sale price?
You may want to sell the property yourself, and so the pricing of the property and the strategy throughout the selling program, is a very important aspect matching with what you think the property is worth.
If it is an investment property, of course any of this can apply, but also what sort of Return on Investment (ROI) to aim for and the returns possible through rental or leasing?
In fact, the value of a property is established when a contract at a specific price is signed between a willing seller and a willing buyer. This gives the actual monetary value at a moment in time.
All other valuations are subjective, with various levels of data available to assist in the decision making process.
In our work we use all the tools of traditional real estate and property valuations to assist our clients and provide the services they need.
The Eco Real Estate Network is licensed to use ecoproperty® for property valuing and pricing. Its EcoPremium system frequently achieves great outcomes for property owners. The benefits once a property is identified as ecoproperty® can be very significant financially, as well in the whole transfer to new owners.
Our expertise and experience of over 25 years informs our ‘subjective’ view with the industry data, and this combination provides our clients with an assessment of what a property is worth.
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