The first thing is clarifying the purpose for identifying the value of your property.
Perhaps it is only a general appreciation of 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?
Are you thinking of putting it on the market soon and want an estimate of the sale price you can expect?
You may want to sell the property yourself. So the pricing of the property and the strategy throughout the selling program is a very important to achieve the best price possible?
If it is an investment property, of course any of the can apply. The Return on Investment (ROI) to aim for and and the rental and leasing fees and charges?
Market Value – Traditional
In fact, a property’s value (traditional) is only 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. We provide additional services and expertise around many other values and socio-economic factors at play.
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.
You are welcome to have a free consultation to discuss your plans for your property and its value.
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