Learning Your Property’s Value Before You List
It is important to know your property’s worth before listing it. In order to make a profit from all your hard work and time put into your property, you must understand the market value versus what you want to sell it for.
GET A PROFESSIONAL APPRAISAL
This is an important step to knowing your property’s value. This should be done by your real estate agent. The agent will look at the price of various properties in the area that were sold within the last couple years, and will compare. This is usually done with properties that are similar in size, features, and condition. The other properties are called “comparables”. The agent then will subtract or add value to your home depending on features or liabilities that your property might have that the others don’t.
GET A PROPERTY ASSESSMENT
Property assessment is the process of placing a dollar value to your property. This is done for tax purposes. The amount of taxes paid on your property depends on its value