How much is your home worth?
Property valuations and appraisals are important and beneficial for people looking to buy or sell a property. They are often required when buying or selling a property because they provide an indication of the value of a property on the current Brisbane market.
When buying a property with lending, the loan provider may request a property valuation. The valuation is typically produced as a report, which includes details on: the condition of the property (including any issues that need to be addressed) rates, measurements of the building and vacant land value, and information on similar properties for sale in the area. It’s worth noting that when an entity requests a property valuation, this is different from a property appraisal.
A Guide To Getting A Brisbane Property Valuation
When you’re in the property market it’s important to understand the differences between property valuations and property appraisals. While the common misconception is that they are the same, they actually differ in a number of ways. The primary distinction between the two is that a property valuation refers to a formal process (the findings of which are often used for legal purposes), while a property appraisal refers to an informal assessment of a property’s value (usually from a qualified real estate agent and is an opinion). Valuations incur a fee, but appraisals are usually free.